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

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

Ally Financial Stock Down 1.4%

Shares of NYSE:ALLY opened at $42.28 on Thursday. The company’s fifty day moving average is $43.68 and its two-hundred day moving average is $41.17. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.92 and a current ratio of 0.92. Ally Financial Inc. has a 1-year low of $29.52 and a 1-year high of $47.27. The stock has a market capitalization of $13.02 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 0.22 and a beta of 1.17.

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. Ally Financial had a net margin of 10.77% and a return on equity of 10.40%. The business had revenue of $2.17 billion during the quarter, compared to the consensus estimate of $2.15 billion. During the same quarter in the prior year, the firm earned $0.78 EPS. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. Equities analysts anticipate that Ally Financial Inc. will post 3.57 EPS for the current year.

Ally Financial announced that its Board of Directors has initiated a stock repurchase program on Wednesday, December 10th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 15.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Ally Financial Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Ally Financial in the second quarter worth approximately $95,897,000. Wellington Management Group LLP raised its stake in shares of Ally Financial by 19.6% in the 3rd quarter. Wellington Management Group LLP now owns 11,938,680 shares of the financial services provider’s stock worth $467,996,000 after buying an additional 1,958,201 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Ally Financial by 39.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 5,400,560 shares of the financial services provider’s stock valued at $210,352,000 after buying an additional 1,523,425 shares during the period. Marshall Wace LLP bought a new position in Ally Financial during the second quarter valued at about $51,661,000. Finally, Qube Research & Technologies Ltd grew its holdings in Ally Financial by 8,255.7% during the third quarter. Qube Research & Technologies Ltd now owns 1,230,384 shares of the financial services provider’s stock worth $48,231,000 after acquiring an additional 1,215,659 shares during the period. Institutional investors and hedge funds own 88.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ALLY shares. TD Cowen reaffirmed a “buy” rating on shares of Ally Financial in a research report on Thursday, January 8th. BTIG Research reaffirmed a “neutral” rating on shares of Ally Financial in a report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Ally Financial from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. Truist Financial decreased their target price on shares of Ally Financial from $51.00 to $50.00 and set a “buy” rating for the company in a research report on Monday. Finally, Morgan Stanley set a $53.00 price target on Ally Financial and gave the company an “overweight” rating in a report on Tuesday, December 16th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $50.44.

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.