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

Meeder Asset Management Inc. lessened its stake in Ally Financial Inc. (NYSE:ALLY - Free Report) by 46.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 have also recently made changes to their positions in the stock. Janney Montgomery Scott LLC raised its holdings in shares of 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 valued at $2,455,000 after buying an additional 28,114 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Ally Financial by 245.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 608,179 shares of the financial services provider's stock worth $24,687,000 after acquiring an additional 432,350 shares during the last quarter. OLD National Bancorp IN boosted its stake in shares of Ally Financial by 3.8% in the 2nd quarter. OLD National Bancorp IN now owns 880,601 shares of the financial services provider's stock valued at $34,933,000 after purchasing an additional 32,478 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Ally Financial by 15.5% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 369,491 shares of the financial services provider's stock valued at $14,988,000 after purchasing an additional 49,539 shares during the last quarter. Finally, Fulton Bank N.A. purchased a new position in Ally Financial in the 2nd quarter worth $689,000. Institutional investors own 88.76% of the company's stock.

Ally Financial Stock Down 0.4 %

Ally Financial stock traded down $0.14 on Tuesday, hitting $35.57. 2,600,318 shares of the stock traded hands, compared to its average volume of 3,478,344. Ally Financial Inc. has a 1 year low of $26.50 and a 1 year high of $45.46. The firm has a market cap of $10.84 billion, a P/E ratio of 14.28, a price-to-earnings-growth ratio of 0.43 and a beta of 1.40. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.36. The business's fifty day simple moving average is $35.06 and its 200 day simple moving average is $38.73.

Ally Financial (NYSE:ALLY - Get Free Report) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.38. The company had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.03 billion. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. Ally Financial's revenue was up 6.9% on a year-over-year basis. During the same period last year, the company posted $0.83 EPS. As a group, sell-side analysts forecast that Ally Financial Inc. will post 3 earnings per share for the current year.

Ally Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 1st were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Friday, November 1st. Ally Financial's dividend payout ratio (DPR) is presently 48.00%.

Analysts Set New Price Targets

ALLY has been the subject of several analyst reports. BTIG Research lowered shares of Ally Financial from a "buy" rating to a "neutral" rating in a research report on Monday, September 16th. JPMorgan Chase & Co. upgraded Ally Financial from a "neutral" rating to an "overweight" rating and reduced their price target for the stock from $46.00 to $40.00 in a research report on Monday, October 7th. Royal Bank of Canada restated an "outperform" rating and issued a $40.00 target price on shares of Ally Financial in a report on Monday, October 21st. Citigroup upped their price target on shares of Ally Financial from $50.00 to $55.00 and gave the company a "buy" rating in a report on Friday. Finally, Evercore ISI cut their price target on shares of Ally Financial from $47.00 to $38.00 and set an "in-line" rating on the stock in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Ally Financial currently has a consensus rating of "Hold" and an average price target of $40.69.

About Ally Financial

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.