Insider Selling: Ally Financial Inc (NYSE:ALLY) CAO Sells 2,222 Shares of Stock

Ally Financial Inc (NYSE:ALLY) CAO David J. Debrunner sold 2,222 shares of Ally Financial stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $28.80, for a total transaction of $63,993.60. Following the completion of the transaction, the chief accounting officer now directly owns 107,979 shares in the company, valued at $3,109,795.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

NYSE:ALLY traded up $0.65 during mid-day trading on Friday, hitting $30.99. The company’s stock had a trading volume of 5,674,544 shares, compared to its average volume of 3,359,266. Ally Financial Inc has a 1 year low of $20.60 and a 1 year high of $31.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.03. The company has a market capitalization of $12.21 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 0.59 and a beta of 1.32. The business’s fifty day moving average price is $29.57.

Ally Financial (NYSE:ALLY) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.53 billion. Ally Financial had a net margin of 23.12% and a return on equity of 10.90%. The company’s revenue was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 earnings per share. On average, equities research analysts predict that Ally Financial Inc will post 3.62 EPS for the current fiscal year.

Ally Financial declared that its Board of Directors has authorized a share repurchase program on Monday, April 1st that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the financial services provider to buy up to 10.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Several institutional investors have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. grew its stake in Ally Financial by 157.2% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 834,084 shares of the financial services provider’s stock valued at $22,929,000 after acquiring an additional 509,767 shares in the last quarter. FMR LLC grew its stake in Ally Financial by 129.3% during the 1st quarter. FMR LLC now owns 1,801,409 shares of the financial services provider’s stock valued at $49,521,000 after acquiring an additional 1,015,634 shares in the last quarter. Advisory Services Network LLC grew its stake in Ally Financial by 25.0% during the 1st quarter. Advisory Services Network LLC now owns 16,894 shares of the financial services provider’s stock valued at $464,000 after acquiring an additional 3,377 shares in the last quarter. Cerebellum GP LLC purchased a new stake in Ally Financial during the 1st quarter valued at about $337,000. Finally, Marshall Wace North America L.P. purchased a new stake in Ally Financial during the 1st quarter valued at about $1,253,000. Institutional investors and hedge funds own 97.02% of the company’s stock.

Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Ally Financial from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Thursday, April 11th. Morgan Stanley boosted their price objective on shares of Ally Financial from $30.00 to $32.00 and gave the company an “equal weight” rating in a report on Monday, April 22nd. Oppenheimer set a $33.00 price objective on shares of Ally Financial and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, BMO Capital Markets boosted their price objective on shares of Ally Financial to $39.00 and gave the company a “market perform” rating in a report on Monday, April 22nd. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Ally Financial has a consensus rating of “Buy” and a consensus target price of $33.33.

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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