Meeder Asset Management Inc. Invests $10.28 Million in Ally Financial Inc. $ALLY

Meeder Asset Management Inc. purchased a new stake in Ally Financial Inc. (NYSE:ALLY) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 223,625 shares of the financial services provider’s stock, valued at approximately $10,276,000. Meeder Asset Management Inc. owned about 0.07% of Ally Financial as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. SJS Investment Consulting Inc. increased its holdings in Ally Financial by 30.8% in the 1st quarter. SJS Investment Consulting Inc. now owns 1,019 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 240 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in Ally Financial by 3.1% in the first quarter. Fifth Third Wealth Advisors LLC now owns 8,010 shares of the financial services provider’s stock valued at $314,000 after purchasing an additional 243 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of Ally Financial by 31.5% during the fourth quarter. Brown Brothers Harriman & Co. now owns 1,052 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 252 shares in the last quarter. Triumph Capital Management boosted its stake in shares of Ally Financial by 9.2% during the fourth quarter. Triumph Capital Management now owns 3,133 shares of the financial services provider’s stock valued at $142,000 after purchasing an additional 265 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in shares of Ally Financial by 25.0% during the fourth quarter. Larson Financial Group LLC now owns 1,340 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 268 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Insiders Place Their Bets

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 value of $221,150.00. Following the completion of the transaction, the insider directly owned 88,927 shares of the company’s stock, valued at approximately $3,933,241.21. This trade represents a 5.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.46% of the company’s stock.

Ally Financial Trading Down 2.9%

NYSE:ALLY opened at $43.62 on Tuesday. Ally Financial Inc. has a 52 week low of $35.92 and a 52 week high of $47.29. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.92 and a current ratio of 0.92. The firm’s fifty day moving average is $44.85 and its 200-day moving average is $42.61. The firm has a market cap of $13.27 billion, a P/E ratio of 10.29, a P/E/G ratio of 0.28 and a beta of 1.10.

Ally Financial (NYSE:ALLY) last announced its earnings results on Tuesday, July 21st. The financial services provider reported $1.21 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.01). The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.22 billion. Ally Financial had a return on equity of 11.75% and a net margin of 16.75%.Ally Financial’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.99 EPS. Equities analysts expect that Ally Financial Inc. will post 5.19 earnings per share for the current 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 dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, July 31st. Ally Financial’s dividend payout ratio (DPR) is presently 28.30%.

Analysts Set New Price Targets

ALLY has been the subject of several recent research reports. 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. Morgan Stanley lifted their target price on shares of Ally Financial from $53.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, April 20th. Wall Street Zen lowered shares of Ally Financial from a “buy” rating to a “hold” rating in a report on Monday, June 8th. Truist Financial reduced their target price on shares of Ally Financial from $54.00 to $51.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Finally, Royal Bank Of Canada upped their price target on shares of Ally Financial from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Fourteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.64.

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.