Ally Financial Inc. (NYSE:ALLY) Announces Quarterly Dividend of $0.30

Ally Financial Inc. (NYSE:ALLY) declared a quarterly dividend on Tuesday, April 16th, Wall Street Journal reports. Shareholders of record on Wednesday, May 1st will be given a dividend of 0.30 per share by the financial services provider on Wednesday, May 15th. This represents a $1.20 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date is Tuesday, April 30th.

Ally Financial has raised its dividend payment by an average of 16.5% per year over the last three years. Ally Financial has a dividend payout ratio of 22.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Ally Financial to earn $5.26 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 22.8%.

Ally Financial Trading Up 0.9 %

Shares of Ally Financial stock traded up $0.31 on Wednesday, reaching $36.27. The company had a trading volume of 4,402,482 shares, compared to its average volume of 3,910,163. The firm’s 50 day moving average price is $37.58 and its two-hundred day moving average price is $32.76. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.90 and a current ratio of 0.90. Ally Financial has a 52-week low of $22.54 and a 52-week high of $41.56. The firm has a market cap of $11.02 billion, a PE ratio of 12.02, a PEG ratio of 0.54 and a beta of 1.40.

Ally Financial (NYSE:ALLY) last announced its earnings results on Friday, January 19th. The financial services provider reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.99 billion. Ally Financial had a return on equity of 9.41% and a net margin of 12.42%. During the same period last year, the business posted $1.08 EPS. Sell-side analysts predict that Ally Financial will post 2.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Bank of America upgraded Ally Financial from a “neutral” rating to a “buy” rating and upped their price target for the stock from $42.00 to $46.00 in a report on Tuesday, April 9th. The Goldman Sachs Group reiterated a “buy” rating on shares of Ally Financial in a research note on Thursday, February 1st. TheStreet raised shares of Ally Financial from a “c+” rating to a “b-” rating in a research report on Thursday, January 11th. JPMorgan Chase & Co. lowered shares of Ally Financial from a “neutral” rating to an “underweight” rating and raised their price objective for the company from $37.00 to $39.00 in a report on Wednesday, April 3rd. Finally, BMO Capital Markets boosted their target price on shares of Ally Financial from $36.00 to $37.00 and gave the stock a “market perform” rating in a research note on Tuesday, January 23rd. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $37.59.

Institutional Investors Weigh In On Ally Financial

Institutional investors have recently made changes to their positions in the stock. Roundview Capital LLC acquired a new stake in shares of Ally Financial in the 1st quarter worth approximately $242,000. Cetera Advisor Networks LLC acquired a new stake in Ally Financial in the 1st quarter valued at about $214,000. D.A. Davidson & CO. purchased a new position in Ally Financial during the 1st quarter valued at about $261,000. MetLife Investment Management LLC purchased a new position in Ally Financial during the 1st quarter valued at about $294,000. Finally, Rhumbline Advisers lifted its holdings in shares of Ally Financial by 1.4% in the first quarter. Rhumbline Advisers now owns 291,312 shares of the financial services provider’s stock valued at $12,666,000 after purchasing an additional 4,099 shares in the last quarter. 88.76% of the stock is currently owned by hedge funds and other institutional investors.

Ally Financial Company Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.