Ally Financial (ALLY) was Smart Insider's stock pick of the week after the company's Chief Financial Officer Russell Hutchinson bought $753,000 worth of Ally Financial's shares at $39.45 apiece on Jan. 24, increasing his ownership by 10%.
Hutchinson already met the ownership requirement and it is "encouraging to see him buying in good size," Smart Insider said in a note Tuesday.
The CFO's purchase was his first since joining the firm and it follows "reasonable" stock price performance and is in a "good absolute size," the note said.
Smart Insider ranked the stock +1, or strong positive signal, on Jan. 28.
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