Meeder Asset Management Inc. boosted its holdings in shares of Ally Financial Inc (NYSE:ALLY) by 79,552.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,025 shares of the financial services provider’s stock after acquiring an additional 85,917 shares during the period. Meeder Asset Management Inc.’s holdings in Ally Financial were worth $2,365,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Raymond James Trust N.A. purchased a new position in Ally Financial in the first quarter worth about $210,000. First Manhattan Co. raised its holdings in Ally Financial by 0.4% in the first quarter. First Manhattan Co. now owns 3,404,402 shares of the financial services provider’s stock worth $93,587,000 after buying an additional 12,389 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Ally Financial in the first quarter worth about $1,068,000. Truvestments Capital LLC purchased a new position in Ally Financial in the first quarter worth about $74,000. Finally, DNB Asset Management AS raised its holdings in Ally Financial by 37.2% in the first quarter. DNB Asset Management AS now owns 139,673 shares of the financial services provider’s stock worth $3,840,000 after buying an additional 37,873 shares during the last quarter.
Shares of ALLY stock opened at $29.27 on Wednesday. Ally Financial Inc has a 52 week low of $20.60 and a 52 week high of $29.66. The company has a market capitalization of $11.82 billion, a PE ratio of 8.76, a P/E/G ratio of 0.50 and a beta of 1.36. The company has a debt-to-equity ratio of 3.33, a current ratio of 1.15 and a quick ratio of 1.15.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Wednesday, May 1st will be paid a $0.17 dividend. The ex-dividend date is Tuesday, April 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.32%. Ally Financial’s dividend payout ratio is presently 20.36%.
Several brokerages have issued reports on ALLY. Zacks Investment Research raised shares of Ally Financial from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Thursday, April 11th. Sandler O’Neill raised shares of Ally Financial from a “hold” rating to a “buy” rating and lifted their target price for the stock from $29.00 to $33.00 in a report on Tuesday, February 26th. They noted that the move was a valuation call. ValuEngine raised shares of Ally Financial from a “sell” rating to a “hold” rating in a report on Tuesday, January 15th. BTIG Research lifted their target price on shares of Ally Financial to $32.00 and gave the stock a “buy” rating in a report on Wednesday, January 23rd. Finally, Barclays reduced their price target on shares of Ally Financial from $35.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, January 2nd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Ally Financial presently has a consensus rating of “Buy” and a consensus target price of $32.25.
In related news, CAO David J. Debrunner sold 2,222 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $27.73, for a total transaction of $61,616.06. Following the completion of the sale, the chief accounting officer now directly owns 112,423 shares in the company, valued at $3,117,489.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey Jonathan Brown sold 97,311 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $27.01, for a total transaction of $2,628,370.11. Following the sale, the chief executive officer now owns 632,569 shares of the company’s stock, valued at $17,085,688.69. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.
About Ally Financial
Ally Financial Inc provides various financial products and services to consumers, businesses, automotive dealers, and corporate customers primarily in the United States and Canada. It operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.
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