Institutional Move: Perry Corp Holding in Ally Finl INC (ALLY) Cut as Share Price Rose

Institutional Move: Perry Corp Holding in Ally Finl INC (ALLY) Cut as Share Price Rose

Richard Perry decreased its stake in Ally Finl Inc (ALLY) by 66.85% based on its latest 2016Q3 regulatory filing with the SEC. Perry Corp sold 10.54 million shares as the company’s stock rose 16.59% with the market. The hedge fund run by Richard Perry held 5.22M shares of the consumer services company at the end of 2016Q3, valued at $101.71 million, down from 15.76M at the end of the previous reported quarter. Perry Corp who had been investing in Ally Finl Inc for a number of months, seems to be less bullish one the $9.60B market cap company. The stock is up 0.07% or $0.01 hitting $20.06, despite the negative news. About 603,062 shares traded hands. Ally Financial Inc (NYSE:ALLY) has risen 9.75% since June 7, 2016 and is uptrending. It has outperformed by 2.33% the S&P500.

A graduate from the Stern School of Business of New York University, Richard Perry began his career employed at Goldman Sachs Risk Arbitrage department. At Stern School of Business he had also taken the position of associate professor, and gave lectures in the department of finance. In 1998, he carried-on to create Perry Capital. Perry Corp is a New York-based hedge fund that was founded by Richard Perry. It had more than $11.64 billion assets under management in April, 2014. This fund invests only a small percentage of its assets in equities and options. Taken from Perry latest Adv, the fund reported to have 103 full and part-time employees. Among which 37 performing investment advisory and research functions. The hedge fund had between 1-10 clients.

Analysts await Ally Financial Inc (NYSE:ALLY) to report earnings on February, 7. They expect $0.56 EPS, up 7.69% or $0.04 from last year’s $0.52 per share. ALLY’s profit will be $268.00 million for 8.96 P/E if the $0.56 EPS becomes a reality. After $0.56 actual EPS reported by Ally Financial Inc for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

More recent Ally Financial Inc (NYSE:ALLY) news were published by: Finance.Yahoo.com which released: “Lawsuit for Investors Who Purchased Shares of Ally Financial Inc (NYSE: ALLY …” on January 10, 2017. Also Prnewswire.com published the news titled: “Ally to Finance up to $600 Million of Retail Contracts for Carvana” on January 04, 2017. Gurufocus.com‘s news article titled: “Bill Nygren Comments on Ally Financial” with publication date: January 10, 2017 was also an interesting one.

According to Zacks Investment Research, “Ally Financial Inc. is an automotive financial services company. Its automotive services business offers a full suite of financing products and services, including new and used vehicle inventory and consumer financing, leasing, inventory insurance, commercial loans and vehicle remarketing services. The company, through its subsidiary, Ally Bank, offers savings and money market accounts, certificates of deposit, interest-bearing checking accounts, and individual retirement accounts; and online and mobile banking, electronic bill pay, remote deposits, electronic funds transfer, and ATM fee reimbursement services. Ally Financial Inc. is based in Detroit, Michigan.”

Ally Financial Inc (NYSE:ALLY) Ratings Coverage

Out of 12 analysts covering Ally Financial (NYSE:ALLY), 8 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 67% are positive. Ally Financial has been the topic of 17 analyst reports since July 29, 2015 according to StockzIntelligence Inc. On Monday, November 2 the stock rating was maintained by Barclays Capital with “Overweight”. Compass Point maintained Ally Financial Inc (NYSE:ALLY) on Wednesday, February 3 with “Buy” rating. As per Tuesday, January 3, the company rating was maintained by Barclays Capital. The firm earned “Buy” rating on Wednesday, September 2 by Zacks. The firm has “Outperform” rating given on Wednesday, July 29 by Credit Suisse. The stock of Ally Financial Inc (NYSE:ALLY) earned “Market Perform” rating by Wells Fargo on Wednesday, April 27. The stock of Ally Financial Inc (NYSE:ALLY) has “Outperform” rating given on Wednesday, September 16 by BMO Capital Markets. The stock has “Buy” rating given by Deutsche Bank on Wednesday, May 4. The firm has “Neutral” rating by Macquarie Research given on Wednesday, May 11. Bank of America downgraded the shares of ALLY in a report on Friday, April 8 to “Neutral” rating.

ALLY Company Profile

Ally Financial Inc., incorporated on February 21, 1997, is a financial holding firm and a bank holding company. The Company’s banking subsidiary, Ally Bank, is a franchise in the Internet, telephone, mobile and mail banking market. The Firm operates through three divisions: Automotive Finance operations, Insurance activities and Mortgage operations. The Company’s Automotive Finance activities segment provides automotive financing services to clients and automotive dealers. The Company’s Insurance activities segment offers both consumer financial and insurance products sold through the automotive dealer channel, and commercial insurance products sold to dealers. The Company’s Mortgage activities segment includes the management of its held-for-investment mortgage loan portfolio. The Company’s Corporate and Other segment consists of Corporate Finance, centralized corporate treasury activities, such as management of the cash and corporate investment securities portfolios, short- and long-term debt, retail and brokered deposit liabilities, derivative instruments, the amortization of the discount associated with debt issuances and bond exchanges, and the residual impacts of its corporate funds-transfer pricing (FTP) and treasury asset liability management (ALM) activities.

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