Ally Financial Inc. (NYSE:ALLY) Shares Sold by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. trimmed its stake in shares of Ally Financial Inc. (NYSE:ALLY) by 9.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,200 shares of the financial services provider’s stock after selling 2,425 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Ally Financial were worth $826,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised its stake in shares of Ally Financial by 510.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the financial services provider’s stock worth $25,000 after buying an additional 526 shares in the last quarter. Transcendent Capital Group LLC acquired a new stake in shares of Ally Financial in the first quarter worth $28,000. Venturi Wealth Management LLC grew its position in Ally Financial by 153.9% during the third quarter. Venturi Wealth Management LLC now owns 952 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 577 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Ally Financial during the second quarter worth $41,000. Finally, Allworth Financial LP lifted its holdings in shares of Ally Financial by 41.9% during the 3rd quarter. Allworth Financial LP now owns 1,426 shares of the financial services provider’s stock valued at $51,000 after buying an additional 421 shares during the last quarter. 88.76% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on ALLY. Wells Fargo & Company decreased their price target on Ally Financial from $37.00 to $32.00 and set an “underweight” rating for the company in a research note on Thursday, September 26th. Morgan Stanley lowered their price target on Ally Financial from $45.00 to $41.00 and set an “overweight” rating on the stock in a report on Monday, October 21st. TD Cowen dropped their price target on shares of Ally Financial from $45.00 to $37.00 and set a “hold” rating on the stock in a research report on Monday, September 23rd. JPMorgan Chase & Co. raised Ally Financial from a “neutral” rating to an “overweight” rating and lowered their price target for the company from $46.00 to $40.00 in a research report on Monday, October 7th. Finally, Evercore ISI cut their price objective on shares of Ally Financial from $47.00 to $38.00 and set an “in-line” rating for the company in a research report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $40.69.

Ally Financial Price Performance

NYSE ALLY opened at $36.22 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $11.04 billion, a P/E ratio of 14.49, a PEG ratio of 0.43 and a beta of 1.40. The company has a 50-day moving average price of $35.14 and a 200-day moving average price of $38.75. Ally Financial Inc. has a 52 week low of $26.50 and a 52 week high of $45.46.

Ally Financial (NYSE:ALLY) last released its earnings results on Friday, October 18th. The financial services provider reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.38. Ally Financial had a net margin of 10.84% and a return on equity of 8.39%. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter last year, the business earned $0.83 EPS. The firm’s revenue was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that Ally Financial Inc. will post 3 earnings per share for the current year.

Ally Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Friday, November 1st. Ally Financial’s payout ratio is presently 48.00%.

Ally Financial Company Profile

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.