Ally Financial (NYSE:ALLY) Issues FY 2024 Earnings Guidance

Ally Financial (NYSE:ALLYGet Rating) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of $6.00-$6.00 for the period. The company issued revenue guidance of -. Ally Financial also updated its FY 2023 guidance to $4.00-$4.00 EPS.

Ally Financial Price Performance

Shares of ALLY opened at $31.43 on Friday. Ally Financial has a 1-year low of $22.34 and a 1-year high of $51.05. The stock has a market cap of $9.39 billion, a PE ratio of 5.30 and a beta of 1.27. The firm has a 50-day simple moving average of $25.73 and a two-hundred day simple moving average of $29.46. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.88 and a quick ratio of 0.87.

Ally Financial (NYSE:ALLYGet Rating) last announced its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.61). The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.17 billion. Ally Financial had a net margin of 24.78% and a return on equity of 19.51%. Ally Financial’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.16 earnings per share. As a group, analysts forecast that Ally Financial will post 5.99 EPS for the current year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 15th. Investors of record on Wednesday, February 1st will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Tuesday, January 31st. Ally Financial’s dividend payout ratio (DPR) is currently 20.24%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALLY. JPMorgan Chase & Co. dropped their price objective on shares of Ally Financial from $30.00 to $27.00 in a report on Tuesday, January 10th. Royal Bank of Canada decreased their price target on shares of Ally Financial from $37.00 to $32.00 and set an outperform rating for the company in a research note on Thursday, October 20th. Wells Fargo & Company decreased their price target on shares of Ally Financial from $22.00 to $20.00 and set an underweight rating for the company in a research note on Tuesday, January 3rd. Compass Point downgraded shares of Ally Financial from a buy rating to a neutral rating in a research note on Wednesday, October 26th. Finally, Bank of America downgraded shares of Ally Financial from a buy rating to an underperform rating and decreased their price target for the stock from $35.00 to $26.00 in a research note on Thursday, January 5th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Ally Financial has a consensus rating of Hold and an average price target of $33.97.

Insider Activity at Ally Financial

In other Ally Financial news, Director Marjorie Magner purchased 2,000 shares of Ally Financial stock in a transaction that occurred on Tuesday, October 25th. The stock was purchased at an average price of $27.43 per share, for a total transaction of $54,860.00. Following the transaction, the director now directly owns 55,603 shares in the company, valued at $1,525,190.29. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is owned by insiders.

Hedge Funds Weigh In On Ally Financial

Several institutional investors have recently bought and sold shares of ALLY. Macquarie Group Ltd. increased its stake in Ally Financial by 362.0% in the 2nd quarter. Macquarie Group Ltd. now owns 571,015 shares of the financial services provider’s stock valued at $19,135,000 after buying an additional 447,424 shares during the period. Royal Bank of Canada grew its stake in shares of Ally Financial by 5.6% during the 1st quarter. Royal Bank of Canada now owns 6,035,703 shares of the financial services provider’s stock worth $262,433,000 after purchasing an additional 320,049 shares during the period. State Street Corp grew its stake in shares of Ally Financial by 3.3% during the 1st quarter. State Street Corp now owns 8,749,404 shares of the financial services provider’s stock worth $380,424,000 after purchasing an additional 281,795 shares during the period. Thompson Siegel & Walmsley LLC grew its stake in shares of Ally Financial by 17.0% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 1,535,818 shares of the financial services provider’s stock worth $42,742,000 after purchasing an additional 223,075 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Ally Financial by 72.2% during the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 332,390 shares of the financial services provider’s stock worth $14,452,000 after purchasing an additional 139,400 shares during the period. 90.35% of the stock is owned by institutional investors and hedge funds.

Ally Financial Company Profile

(Get Rating)

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.

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Earnings History and Estimates for Ally Financial (NYSE:ALLY)

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