Meeder Asset Management Inc. Sells 74,226 Shares of Ally Financial Inc. (NYSE:ALLY)

Meeder Asset Management Inc. cut its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 46.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,164 shares of the financial services provider’s stock after selling 74,226 shares during the period. Meeder Asset Management Inc.’s holdings in Ally Financial were worth $3,067,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALLY. Janney Montgomery Scott LLC increased its holdings in Ally Financial by 68.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 68,986 shares of the financial services provider’s stock worth $2,455,000 after acquiring an additional 28,114 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Ally Financial by 245.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 608,179 shares of the financial services provider’s stock valued at $24,687,000 after buying an additional 432,350 shares during the period. OLD National Bancorp IN grew its stake in shares of Ally Financial by 3.8% during the second quarter. OLD National Bancorp IN now owns 880,601 shares of the financial services provider’s stock valued at $34,933,000 after buying an additional 32,478 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Ally Financial by 15.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 369,491 shares of the financial services provider’s stock worth $14,988,000 after buying an additional 49,539 shares during the period. Finally, Fulton Bank N.A. bought a new stake in shares of Ally Financial in the 2nd quarter valued at about $689,000. 88.76% of the stock is owned by hedge funds and other institutional investors.

Ally Financial Trading Down 1.4 %

Shares of ALLY stock opened at $35.70 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36. Ally Financial Inc. has a 12-month low of $26.50 and a 12-month high of $45.46. The stock has a market capitalization of $10.88 billion, a P/E ratio of 14.28, a P/E/G ratio of 0.43 and a beta of 1.40. The firm’s 50 day moving average is $35.14 and its 200 day moving average is $38.75.

Ally Financial (NYSE:ALLY) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.38. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a return on equity of 8.39% and a net margin of 10.84%. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the business posted $0.83 EPS. Research analysts expect that Ally Financial Inc. will post 3 earnings per share for the current year.

Ally Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 3.36%. The ex-dividend date was Friday, November 1st. Ally Financial’s payout ratio is currently 48.00%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on ALLY shares. BTIG Research lowered Ally Financial from a “buy” rating to a “neutral” rating in a research note on Monday, September 16th. TD Cowen reduced their price target on Ally Financial from $45.00 to $37.00 and set a “hold” rating on the stock in a research note on Monday, September 23rd. Bank of America lowered their price target on shares of Ally Financial from $46.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Keefe, Bruyette & Woods lowered their target price on shares of Ally Financial from $50.00 to $44.00 and set an “outperform” rating for the company in a report on Monday, September 16th. Finally, Raymond James raised Ally Financial from an “underperform” rating to a “market perform” rating in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $40.69.

Ally Financial 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.