Meeder Asset Management Inc. Trims Position in Ally Financial Inc. (NYSE:ALLY)

Meeder Asset Management Inc. trimmed its stake in Ally Financial Inc. (NYSE:ALLYGet Rating) by 96.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,080 shares of the financial services provider’s stock after selling 27,464 shares during the period. Meeder Asset Management Inc.’s holdings in Ally Financial were worth $36,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in ALLY. Verdence Capital Advisors LLC purchased a new stake in Ally Financial in the first quarter worth about $212,000. Eagle Asset Management Inc. lifted its position in shares of Ally Financial by 3.1% in the 1st quarter. Eagle Asset Management Inc. now owns 187,937 shares of the financial services provider’s stock worth $8,171,000 after purchasing an additional 5,713 shares during the period. MBL Wealth LLC bought a new position in shares of Ally Financial during the first quarter valued at approximately $290,000. Dorsey & Whitney Trust CO LLC bought a new position in shares of Ally Financial during the first quarter valued at approximately $237,000. Finally, APG Asset Management N.V. increased its holdings in Ally Financial by 25.4% during the first quarter. APG Asset Management N.V. now owns 130,208 shares of the financial services provider’s stock valued at $5,088,000 after buying an additional 26,400 shares during the period. 91.57% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ALLY shares. Morgan Stanley cut Ally Financial from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $40.00 to $28.00 in a research report on Thursday, October 20th. Royal Bank of Canada reduced their target price on shares of Ally Financial from $37.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday, October 20th. StockNews.com cut shares of Ally Financial from a “hold” rating to a “sell” rating in a report on Thursday, November 10th. Barclays reduced their price objective on shares of Ally Financial from $49.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, October 20th. Finally, Stephens decreased their target price on shares of Ally Financial from $39.00 to $26.00 and set an “equal weight” rating for the company in a research report on Thursday, October 20th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $37.42.

Insider Activity

In other Ally Financial news, Director Marjorie Magner bought 2,000 shares of Ally Financial stock in a transaction that occurred on Tuesday, October 25th. The stock was purchased at an average price of $27.43 per share, with a total value of $54,860.00. Following the completion of the acquisition, the director now directly owns 55,603 shares in the company, valued at approximately $1,525,190.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.57% of the company’s stock.

Ally Financial Stock Performance

Shares of ALLY stock opened at $28.02 on Tuesday. The business has a fifty day moving average of $29.21 and a 200 day moving average of $33.80. Ally Financial Inc. has a 1 year low of $24.83 and a 1 year high of $53.83. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 4.73, a price-to-earnings-growth ratio of 0.15 and a beta of 1.29.

Ally Financial (NYSE:ALLYGet Rating) last announced its quarterly earnings data on Wednesday, October 19th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($0.61). The firm had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Ally Financial had a return on equity of 19.51% and a net margin of 24.78%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.16 earnings per share. As a group, research analysts expect that Ally Financial Inc. will post 6.05 earnings per share for the current year.

Ally Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Tuesday, November 1st will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 4.28%. The ex-dividend date of this dividend is Monday, October 31st. Ally Financial’s payout ratio is 20.24%.

About Ally Financial

(Get Rating)

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services to consumer, commercial, and corporate customers primarily in the United States and Canada. It operates through four segments: Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations.

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Institutional Ownership by Quarter for Ally Financial (NYSE:ALLY)

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