Chart - you can draw at the chart
Starting Amount
$
After
years
Dividend yield
%
Dividends reinvested
$
Ally Financial Inc.
Type
Public company
Traded as NYSE: ALLY
Industry Financial services
Founded 1919; 98 years ago (1919) (as GMAC Inc.)
Headquarters Detroit, Michigan (Corporate)
Midvale, Utah (Ally Bank)
Key people
Franklin W. Hobbs, Chairman
Jeffrey J. Brown, CEO
Christopher A. Halmy, CFO
Services Car finance
Vehicle service contracts
Online banking
Mortgages
Credit cards
Brokerage firm
Revenue Increase $5.437 billion (2016)
Operating income
Increase $1.111 billion (2016)
Net income
Decrease $1.067 billion (2016)
Total assets Increase $163.728 billion (2016)
Total equity Decrease $13.317 billion (2016)
Owner Harris Associates (8.60%)
The Vanguard Group (8.50%)
BlackRock (5.10%)
Franklin Resources (4.30%)
JPMorgan Chase (3.85%)
Number of employees
7,600 (2016)
Website www.ally.com

Ally Financial Inc., formerly known as GMAC Inc. (an acronym for General Motors Acceptance Corporation) until 2009, is a bank holding company headquartered in Detroit, Michigan. The company provides financial services including auto financing, corporate financing, insurance, mortgages, stock brokerage, and online banking. Ally is one of the top auto lenders in the U.S. by volume and is on the list of largest banks in the United States.

The company was founded in 1919 by General Motors Corporation as the General Motors Acceptance Corporation (GMAC) to be a provider of financing to automotive customers. Original offices were located in Detroit, New York City, Chicago, San Francisco, and Toronto. Over the following decades the business expanded to include insurance, online banking, mortgage operations, and commercial finance.

In 1985, GMAC formed GMAC Mortgage and acquired Colonial Mortgage as well as the servicing arm of Norwest Mortgage. In 1999, GMAC Mortgage purchased Ditech Funding In 2005, the company formed Residential Capital (ResCap) as a holding company for its mortgage operations.

In 2006, General Motors Corporation sold a 51% interest in GMAC to Cerberus Capital Management, a private equity firm. Also that year, GMAC divested a controlling interest of GMAC Commercial Holdings, its real estate division, and Capmark Financial Group to Goldman Sachs, KKR and Five Mile Capital Partners. In 2009, Capmark filed for bankruptcy and its North American loan origination and servicing business was acquired by Berkadia, a joint venture of Leucadia and Berkshire Hathaway.

On December 24, 2008, the Federal Reserve accepted the company's application to become a bank holding company. As a result of losses in the company's former ResCap subsidiary, the United States Treasury invested $17.2 billion in the company in 2008-2009. The Treasury sold its last stake in the company in 2014, recovering $19.6 billion from its $17.2 billion investment.

On May 15, 2009, GMAC's banking unit changed its name to Ally Bank. In May 2010, GMAC re-branded itself as Ally Financial. In 2012, the company sold its Canadian banking operations to Royal Bank of Canada. The company became a public company via an initial public offering in April 2014. In 2015, it moved its headquarters to One Detroit Center, Michigan.

In June 2016, Ally acquired TradeKing, an online brokerage, which was rebranded as Ally Invest.

Along with Wells Fargo, Bank of America, Capital One, and JP Morgan Chase, Ally is one of the top bank auto lenders in the U.S. by volume. The company offers financial services, such as retail auto financing and leasing, dealer lines of credit, insurance coverage, and vehicle auction services. Customers included over 18,000 automotive dealerships and 4.4 million retail consumers.

The company owns SmartAuction, a platform for live auto auctions via a website and mobile app. More than 5 million vehicles have been sold since it launched in 2000 and 364,000 vehicles were sold in 2016.

Ally Auto sponsors the South Florida Auto Show. and the Time Magazine Quality Dealer Award.

Ally Bank is a direct bank with $66.6 billion in retail customer deposits. Ally Bank offers savings products, including certificates of deposit (CDs), online savings accounts, interest checking accounts, money market accounts, mortgages, and credit cards.

Ally Invest is an online discount brokerage firm. Investors can buy and sell such securities as stocks, exchange-traded funds, mutual funds, bonds, options, futures contracts, and currency trading on the foreign exchange market via its electronic trading platform. It also provides margin lending and managed portfolios.

The company's corporate finance division provides capital to businesses in various industries.

In December 2013, the Consumer Financial Protection Bureau (CFPB) announced a settlement with Ally Financial to resolve alleged discrimination in its indirect auto lending program. According to the consent order, Ally charged African American borrowers an average of 29 basis points more than similarly situated White borrowers, Hispanic borrowers 20 basis points more than White borrowers, and Asian/Pacific Islanders 22 basis points more than White borrowers. The CFPB concluded that these disparities were statistically significant, based on race, and not based on creditworthiness or objective criteria related to borrower risk. The CFPB also alleged that the higher markups resulted from Ally’s specific policy and practice of allowing dealers to mark up a consumer’s interest rate above Ally’s established buy rate and then compensating dealers based on the markup. Under the terms of the consent order, Ally was required to establish a compliance committee, submit a compliance plan to the CFPB and United States Department of Justice for review, and pay $80 million in consumer monetary damages and $18 million in civil penalties.

Investment goal date:
Dividends reinvested
Ally Financial Inc. ALLY report Q3 2017
Period
Date
Adjusted Actuals EPS
GAAP EPS
Q1 2018
2018-04-27
--
--
Q4 2017
2018-01-29
--
--
Q3 2017
2017-10-25
0.0000
0.6300
Q2 2017
2017-07-27
0.5800
0.5500
Q1 2017
2017-04-27
0.4800
0.4600
Q4 2016
2017-01-31
0.5400
0.5200
Q3 2016
2016-10-26
0.5600
0.5400
Q2 2016
2016-07-26
0.5400
0.7000
Q1 2016
2016-04-26
0.5200
0.4800
Q4 2015
2016-02-02
0.5200
-1.9400
There is presents forecasts or rating agencies and recommendation for investors about this ticker
Funds
Fund Name
Ticker shares
BANK OF AMERICA CORP /DE/
12327440
BlackRock Inc.
23195719
BlackRock Institutional Trust Company, N.A.
11707946
CANYON CAPITAL ADVISORS LLC
8935906
CYRUS CAPITAL PARTNERS, LP
9774431
First Pacific Advisors, LLC
10844420
FRANKLIN RESOURCES INC
19215588
HARRIS ASSOCIATES L P
40594446
Invesco Ltd.
13344085
JPMORGAN CHASE & CO
18379467
OAKTREE CAPITAL MANAGEMENT LP
10246462
PRICE T ROWE ASSOCIATES INC /MD/
7970309
Slate Path Capital LP
10420000
STATE STREET CORP
10724748
Vanguard Group, Inc
38532959
Major Shareholders
Name Relationship
Total Shares
Holding stocks
HOBBS FRANKLIN W IV
0.0100% (54639)
ALLY / TAP /
DEBRUNNER DAVID J
0.0200% (119031)
ALLY /
BACON KENNETH J
0.0100% (24397)
ALLY / CMCSA / HCN /
BLAKELY ROBERT T
0.0100% (26172)
ALLY / GHL / NRP / WLK /
MAGNER MARJORIE
0.0100% (28872)
ACN / ALLY / GCI /
Fennebresque Kim S
0.0100% (26172)
ALLY / BXC /
Breakiron-Evans Maureen
0.0100% (34064)
ALLY / CTSH / CUB / HPY /
Stengel Scott A
0.0100% (55876)
ALLY / UMBF /
Brown Jeffrey Jonathan
0.1000% (487707)
ALLY /
Gunn Brian M
0.0200% (78147)
ALLY /
Halmy Christopher A
0.0400% (199944)
ALLY /
Clark Mayree C
0.0100% (36172)
ALLY /
Solomon William B Jr
0.0200% (76643)
ALLY /
Stack John J
0.0100% (30439)
ALLY /
Morais Diane E.
0.0400% (191095)
ALLY /
Russi Timothy M.
0.0400% (191761)
ALLY /
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