Russell Hutchinson Purchases 11,566 Shares of Ally Financial (NYSE:ALLY) Stock

Ally Financial Inc. (NYSE:ALLY) CFO Russell Hutchinson acquired 11,566 shares of the business’s stock in a transaction on Tuesday, January 27th. The stock was acquired at an average cost of $43.17 per share, for a total transaction of $499,304.22. Following the transaction, the chief financial officer directly owned 225,336 shares in the company, valued at $9,727,755.12. The trade was a 5.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Ally Financial Stock Up 1.4%

Shares of ALLY opened at $42.91 on Friday. The firm has a fifty day moving average price of $43.78 and a 200-day moving average price of $41.18. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $13.22 billion, a P/E ratio of 18.26, a P/E/G ratio of 0.21 and a beta of 1.17. Ally Financial Inc. has a 12-month low of $29.52 and a 12-month high of $47.27.

Ally Financial (NYSE:ALLY) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.01 by $0.08. The company had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.15 billion. Ally Financial had a net margin of 10.77% and a return on equity of 10.40%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.78 EPS. Equities research analysts expect that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, February 2nd will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, February 2nd. This represents a $1.20 annualized dividend and a yield of 2.8%. Ally Financial’s dividend payout ratio is 51.06%.

Ally Financial declared that its board has approved a stock repurchase program on Wednesday, December 10th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 15.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have recently commented on ALLY shares. Deutsche Bank Aktiengesellschaft raised their price target on Ally Financial from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. JPMorgan Chase & Co. increased their target price on shares of Ally Financial from $43.00 to $48.00 and gave the stock an “overweight” rating in a report on Monday, January 12th. UBS Group set a $48.00 price target on shares of Ally Financial in a report on Monday, January 12th. TD Cowen reaffirmed a “buy” rating on shares of Ally Financial in a research report on Thursday, January 8th. Finally, Truist Financial cut their price objective on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating on the stock in a report on Monday. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.44.

Institutional Investors Weigh In On Ally Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of ALLY. Allworth Financial LP increased its position in shares of Ally Financial by 385.2% during the second quarter. Allworth Financial LP now owns 752 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 597 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Ally Financial during the 4th quarter worth $29,000. Mather Group LLC. acquired a new position in Ally Financial during the 3rd quarter valued at about $31,000. Hantz Financial Services Inc. increased its position in Ally Financial by 662.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 823 shares of the financial services provider’s stock valued at $32,000 after buying an additional 715 shares in the last quarter. Finally, Westside Investment Management Inc. raised its stake in Ally Financial by 116.8% in the second quarter. Westside Investment Management Inc. now owns 837 shares of the financial services provider’s stock valued at $34,000 after buying an additional 451 shares during the last quarter. Hedge funds and other institutional investors own 88.76% of the company’s stock.

Ally Financial Company Profile

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.