Ally Financial Inc (NYSE:ALLY) Plans Dividend Increase – $0.19 Per Share
Ally Financial Inc (NYSE:ALLY) announced a quarterly dividend on Wednesday, January 15th, Wall Street Journal reports. Stockholders of record on Friday, January 31st will be given a dividend of 0.19 per share by the financial services provider on Friday, February 14th. This represents a $0.76 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Thursday, January 30th. This is a positive change from Ally Financial’s previous quarterly dividend of $0.17.
Ally Financial has increased its dividend payment by an average of 0.6% per year over the last three years and has increased its dividend every year for the last 2 years. Ally Financial has a payout ratio of 18.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ally Financial to earn $4.22 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 16.1%.
Shares of ALLY traded up $0.08 during trading hours on Wednesday, hitting $30.33. The stock had a trading volume of 2,696,289 shares, compared to its average volume of 3,426,209. The company’s fifty day moving average is $30.98 and its two-hundred day moving average is $31.68. The company has a debt-to-equity ratio of 2.47, a current ratio of 1.05 and a quick ratio of 1.04. Ally Financial has a 52 week low of $25.21 and a 52 week high of $35.42. The stock has a market capitalization of $11.38 billion, a price-to-earnings ratio of 9.08, a P/E/G ratio of 0.57 and a beta of 1.27.
In other Ally Financial news, CAO David J. Debrunner sold 2,222 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $31.70, for a total transaction of $70,437.40. Following the sale, the chief accounting officer now directly owns 94,647 shares in the company, valued at approximately $3,000,309.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.35% of the company’s stock.
A number of research analysts have issued reports on the stock. ValuEngine downgraded shares of Ally Financial from a “sell” rating to a “strong sell” rating in a research report on Monday, November 11th. Citigroup cut their price target on shares of Ally Financial from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. JPMorgan Chase & Co. downgraded shares of Ally Financial from an “overweight” rating to a “neutral” rating and cut their price target for the company from $35.00 to $33.00 in a research report on Tuesday, October 8th. Finally, Barclays reiterated a “buy” rating and issued a $45.00 price target on shares of Ally Financial in a research report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $37.00.
About Ally Financial
Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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