Meeder Asset Management Inc. Makes New $10.28 Million Investment in Ally Financial Inc. $ALLY

Meeder Asset Management Inc. acquired a new position in shares of Ally Financial Inc. (NYSE:ALLY) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 223,625 shares of the financial services provider’s stock, valued at approximately $10,276,000.

Other hedge funds also recently modified their holdings of the company. State of Wyoming bought a new position in shares of Ally Financial during the 2nd quarter worth about $3,195,000. Intech Investment Management LLC acquired a new stake in shares of Ally Financial in the 4th quarter valued at about $3,926,000. Evergreen Capital Management LLC increased its position in Ally Financial by 781.9% in the 4th quarter. Evergreen Capital Management LLC now owns 45,939 shares of the financial services provider’s stock valued at $2,081,000 after buying an additional 40,730 shares in the last quarter. Geode Capital Management LLC increased its position in Ally Financial by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider’s stock valued at $243,795,000 after buying an additional 241,000 shares in the last quarter. Finally, Qsemble Capital Management LP raised its position in shares of Ally Financial by 136.0% during the fourth quarter. Qsemble Capital Management LP now owns 159,744 shares of the financial services provider’s stock worth $7,235,000 after purchasing an additional 92,043 shares during the period. Institutional investors own 88.76% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ALLY shares. Wall Street Zen lowered shares of Ally Financial from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Weiss Ratings upgraded Ally Financial from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 23rd. Bank of America upped their price objective on Ally Financial from $52.00 to $53.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Evercore reaffirmed an “outperform” rating and set a $54.00 price objective on shares of Ally Financial in a report on Tuesday, April 21st. Finally, Wells Fargo & Company raised their price target on Ally Financial from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Fourteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.64.

Ally Financial Trading Down 2.9%

Shares of ALLY stock opened at $43.62 on Tuesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92. Ally Financial Inc. has a 52-week low of $35.92 and a 52-week high of $47.29. The company has a market capitalization of $13.27 billion, a PE ratio of 10.29, a price-to-earnings-growth ratio of 0.28 and a beta of 1.10. The business’s fifty day moving average is $44.85 and its 200 day moving average is $42.61.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings data on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.01). Ally Financial had a net margin of 16.75% and a return on equity of 11.75%. The business had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the business posted $0.99 EPS. Ally Financial’s quarterly revenue was up 9.8% on a year-over-year basis. On average, equities research analysts anticipate that Ally Financial Inc. will post 5.19 EPS for the current fiscal year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Friday, July 31st were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, July 31st. This represents a $1.20 annualized dividend and a dividend yield of 2.8%. Ally Financial’s dividend payout ratio (DPR) is presently 28.30%.

Insider Activity

In other news, insider Stephanie N. Richard sold 5,000 shares of Ally Financial stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $44.23, for a total transaction of $221,150.00. Following the completion of the sale, the insider owned 88,927 shares in the company, valued at approximately $3,933,241.21. This trade represents a 5.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.46% of the company’s stock.

Ally Financial Company Profile

Ally Financial Inc is a leading digital financial services company headquartered in Detroit, Michigan. The company offers a comprehensive suite of banking, lending, and insurance products designed for retail and commercial customers. Through its online-only platform, Ally Bank provides checking and savings accounts, certificates of deposit, money market accounts, and home mortgages, emphasizing competitive rates and user-friendly mobile and web experiences.

In addition to its banking operations, Ally Financial is a major player in automotive financing and leasing.