Meeder Asset Management Inc. Has $6.57 Million Position in Ally Financial Inc. $ALLY

Key Points

• Meeder Asset Management increased its Ally Financial stake by 41% in the first quarter, buying 48,673 more shares and bringing its position to 167,468 shares worth about $6.57 million.
• Ally Financial’s latest earnings beat expectations, reporting $1.11 EPS versus $0.93 expected and revenue of $2.18 billion, up 36.4% year over year.
• Wall Street remains generally bullish on Ally Financial, with 14 Buy ratings and 2 Hold ratings, giving the stock a consensus Moderate Buy and a target price of $53.79.

Meeder Asset Management Inc. raised its holdings in Ally Financial Inc. (NYSE:ALLY - Free Report) by 41.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 167,468 shares of the financial services provider's stock after buying an additional 48,673 shares during the quarter. Meeder Asset Management Inc. owned 0.05% of Ally Financial worth $6,570,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP boosted its position in shares of Ally Financial by 19.5% during the 4th quarter. Wellington Management Group LLP now owns 14,271,290 shares of the financial services provider's stock valued at $646,347,000 after acquiring an additional 2,332,610 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Ally Financial by 3.6% in the first quarter. Dimensional Fund Advisors LP now owns 9,018,580 shares of the financial services provider's stock worth $353,776,000 after purchasing an additional 309,638 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Ally Financial by 7.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,071,504 shares of the financial services provider's stock worth $274,978,000 after purchasing an additional 444,756 shares during the period. Geode Capital Management LLC lifted its stake in Ally Financial by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 5,381,838 shares of the financial services provider's stock worth $243,795,000 after purchasing an additional 241,000 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in Ally Financial by 0.5% during the fourth quarter. Thrivent Financial for Lutherans now owns 3,867,023 shares of the financial services provider's stock valued at $175,137,000 after purchasing an additional 20,198 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company's stock.

Ally Financial Price Performance

Shares of Ally Financial stock opened at $45.61 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $13.98 billion, a price-to-earnings ratio of 11.12, a P/E/G ratio of 0.26 and a beta of 1.09. Ally Financial Inc. has a 1-year low of $35.92 and a 1-year high of $47.29. The firm's 50-day moving average price is $44.10 and its two-hundred day moving average price is $42.64.

Ally Financial (NYSE:ALLY - Get Free Report) last posted its quarterly earnings data on Friday, April 17th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.18. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.14 billion. Ally Financial had a net margin of 16.47% and a return on equity of 11.41%. The company's revenue was up 36.4% on a year-over-year basis. During the same quarter last year, the business posted $0.58 earnings per share. On average, equities analysts predict that Ally Financial Inc. will post 5.31 earnings per share for the current fiscal year.

Insider Transactions at Ally Financial

In other Ally Financial news, insider Stephanie N. Richard sold 5,000 shares of the business's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $42.14, for a total value of $210,700.00. Following the transaction, the insider owned 93,927 shares of the company's stock, valued at approximately $3,958,083.78. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.46% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ALLY shares. Weiss Ratings upgraded Ally Financial from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, June 23rd. Barclays raised their target price on Ally Financial from $54.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Monday, April 20th. Royal Bank Of Canada upped their price target on Ally Financial from $52.00 to $55.00 and gave the company an "outperform" rating in a research report on Friday, July 10th. Morgan Stanley increased their price objective on Ally Financial from $53.00 to $55.00 and gave the stock an "overweight" rating in a research note on Monday, April 20th. Finally, Wall Street Zen cut Ally Financial from a "buy" rating to a "hold" rating in a report on Monday, June 8th. Fourteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $53.79.

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.

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