Kathleen Patterson Sells 29,000 Shares of Ally Financial (NYSE:ALLY) Stock

Key Points

• Kathleen Patterson, an insider at Ally Financial, sold 29,000 shares of stock for a total of $1.18 million, resulting in a significant decrease of 22.45% in her position.
• Ally Financial's stock has seen a recent increase of 1.0%, with shares trading at $41.01, and the company has a market cap of $12.62 billion.
• The firm declared a $0.30 per share dividend to be paid on November 14th, representing an annual yield of 2.9%.

Ally Financial Inc. (NYSE:ALLY - Get Free Report) insider Kathleen Patterson sold 29,000 shares of the stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $40.86, for a total value of $1,184,940.00. Following the sale, the insider directly owned 100,203 shares in the company, valued at $4,094,294.58. This trade represents a 22.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Ally Financial Stock Up 1.0%

Shares of NYSE ALLY traded up $0.41 during mid-day trading on Thursday, reaching $41.01. 2,255,654 shares of the company were exchanged, compared to its average volume of 3,839,523. Ally Financial Inc. has a 1 year low of $29.52 and a 1 year high of $44.83. The firm has a 50-day moving average of $40.59 and a 200 day moving average of $37.68. The stock has a market cap of $12.62 billion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 0.31 and a beta of 1.18. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.31.

Ally Financial (NYSE:ALLY - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The financial services provider reported $0.99 earnings per share for the quarter. Ally Financial had a return on equity of 9.96% and a net margin of 8.10%.The company had revenue of $2.06 billion for the quarter. On average, research analysts expect that Ally Financial Inc. will post 3.57 earnings per share for the current year.

Ally Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Friday, October 31st will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, October 31st. This represents a $1.20 dividend on an annualized basis and a yield of 2.9%. Ally Financial's dividend payout ratio (DPR) is presently 72.29%.

Institutional Trading of Ally Financial

Institutional investors and hedge funds have recently bought and sold shares of the business. Fulton Bank N.A. grew its holdings in shares of Ally Financial by 1.3% during the 2nd quarter. Fulton Bank N.A. now owns 19,888 shares of the financial services provider's stock worth $775,000 after purchasing an additional 260 shares during the period. Integrated Wealth Concepts LLC grew its holdings in shares of Ally Financial by 0.7% during the 1st quarter. Integrated Wealth Concepts LLC now owns 40,363 shares of the financial services provider's stock worth $1,472,000 after purchasing an additional 300 shares during the period. MAI Capital Management grew its holdings in shares of Ally Financial by 45.1% during the 2nd quarter. MAI Capital Management now owns 975 shares of the financial services provider's stock worth $38,000 after purchasing an additional 303 shares during the period. Econ Financial Services Corp raised its holdings in shares of Ally Financial by 0.5% in the 2nd quarter. Econ Financial Services Corp now owns 59,993 shares of the financial services provider's stock valued at $2,337,000 after buying an additional 311 shares during the period. Finally, Amalgamated Bank grew its stake in shares of Ally Financial by 0.3% in the second quarter. Amalgamated Bank now owns 126,980 shares of the financial services provider's stock worth $4,946,000 after acquiring an additional 344 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALLY has been the topic of a number of recent research reports. BTIG Research raised Ally Financial from a "sell" rating to a "neutral" rating in a research report on Monday, July 14th. Citigroup increased their price target on Ally Financial from $59.00 to $70.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Cowen upgraded Ally Financial from a "hold" rating to a "buy" rating in a research note on Monday. Evercore ISI lowered their target price on shares of Ally Financial from $45.00 to $44.00 and set an "in-line" rating for the company in a research note on Tuesday, September 30th. Finally, TD Cowen upgraded shares of Ally Financial from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $43.00 to $50.00 in a research note on Monday. Eleven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, Ally Financial currently has a consensus rating of "Moderate Buy" and an average price target of $45.67.

Ally Financial Company Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.