Ally Financial Inc

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  • uploads///rel val
    Company & Industry Overviews

    How Visa’s Valuation Compares

    While Visa’s (V) NTM (next-12-month) price-to-book ratio is 7.4x, competitors’ average is 8.0x.

    By Raymond Anderson
  • uploads///ent value
    Company & Industry Overviews

    Why Visa Sees the US Market as Profitable

    At the J.P. Morgan Global Technology, Media and Communications Conference, Visa (V) stated it would be targeting the US market’s significant untapped opportunities, which could boost growth.

    By Raymond Anderson
  • uploads///analysts
    Company & Industry Overviews

    Discover Financial Services: Assessing Analysts’ Ratings

    Five analysts suggested a “hold,” one recommended a “strong sell,” and nine recommended a “strong buy” on DFS stock.

    By Raymond Anderson
  • uploads///EV rev
    Company & Industry Overviews

    Discover Financial’s Cashback Checking Program

    Discover’s enterprise-value-to-revenue ratio is ~4.0.

    By Raymond Anderson
  • uploads///operating margin
    Company & Industry Overviews

    What Does Discover Financial Have in Mind for 2018?

    Discover’s 4Q17 operating margin stood at ~49.6% on a TTM (trailing-12-months) basis.

    By Raymond Anderson
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    Company & Industry Overviews

    What’s Expected from Discover Financial in 1Q18?

    Wall Street analysts gave a high estimate of $2.02 and a low estimate of $1.65 on Discover’s earnings per share for 1Q18.

    By Raymond Anderson
  • uploads///rel val
    Company & Industry Overviews

    Mastercard Has Higher Valuations—Here’s Why

    Mastercard’s (MA) PBV (price-to-book value ratio) is 18.08x on a next-12-month basis. The company has a premium valuation, as its competitors’ average is 4.2x.

    By Raymond Anderson
  • uploads///EBITDA margin
    Company & Industry Overviews

    Mastercard Increases Speed during Checkouts

    On April 5, 2018, Mastercard (MA) made an announcement that from April 13 onward, all merchants in Canada and the United States would be able to eliminate the process of requiring signatures from cardholders.

    By Raymond Anderson
  • uploads///profit margin
    Company & Industry Overviews

    What Could Drive Mastercard’s Performance?

    After the announcement of the imposition of tariffs by President Donald Trump, fears regarding a trade war gripped investors.

    By Raymond Anderson
  • uploads///analysts
    Company & Industry Overviews

    How Are Analysts Viewing American Express Stock?

    American Express (AXP) is covered by 31 analysts in March 2018. Two of them have given it a “strong sell” rating, and one is recommending “sell.”

    By Raymond Anderson
  • uploads///analysts
    Earnings Report

    Discover Financial Services: What Analysts Are Saying

    Twenty-six analysts are tracking Discover Financial Services (DFS) in January 2018. Six of them have given it a “hold” rating, and one is recommending a “strong sell.”

    By Raymond Anderson
  • uploads///Rel val
    Earnings Report

    Behind Discover Financial Services’ Discounted Valuations

    Discover Financial Services (DFS) has a PE (price-to-earnings) ratio on an NTM (next 12-month) basis of 10.26x, while the average for its peers is 13.97x.

    By Raymond Anderson
  • uploads///market cap
    Earnings Report

    Discover Financial Services’ Direct Banking Segment in 4Q17

    The Direct Banking segment of Discover Financial Services (DFS) generated pre-tax income of $870 million in 4Q17 compared to $868 million in 4Q16, which was a marginal rise.

    By Raymond Anderson
  • uploads///FCF
    Earnings Report

    Why Discover Financial’s Operating Expenses Rose Year-over-Year

    In 4Q17, Discover Financial incurred total operating expenses of $1 billion compared to $897 million in 4Q16, which is a rise of 15%.

    By Raymond Anderson
  • uploads///operating lev
    Company & Industry Overviews

    Factors That Led to a Decline in Discover’s Net Income in 1H17

    Discover Financial’s employee compensation expenses rose 7% in 1H17 compared to 1H16.

    By Raymond Anderson
  • uploads///eff
    Company & Industry Overviews

    Discover Misses Earnings Estimates but Beats Revenue Estimates

    Discover Financial Services (DFS) posted earnings per share of $1.40 in 2Q17, which missed the analysts’ estimate of $1.45. DFS reported revenues of $2.42 billion in 2Q17, beating the analysts’ estimate of $2.40 billion.

    By Raymond Anderson
  • uploads///Change in the Federal Funds Rate
    Macroeconomic Analysis

    Why the September FOMC Meeting Was a Close Call

    The September FOMC (Federal Open Market Committee) meeting had surprised market participants with three dissenting votes.

    By David Ashworth
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    Fund Managers

    A Detailed Portfolio Analysis of PLVBX

    The PIMCO RAE Low Volatility Plus International Fund – Class A (PLVBX) portfolio consists of securities that are issued all over the world.

    By Ivan Kading
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    Fund Managers

    PLVBX Offers Investors a Different Approach

    The PIMCO RAE Low Volatility Plus International Fund – Class A (PLVBX) uses a long or short hedge fund strategy to achieve its investment objective.

    By Ivan Kading
  • uploads///chart
    Macroeconomic Analysis

    A Detailed Holdings Analysis of PLVVX

    PLVVX holds fixed income securities in both long and short positions. The fund also holds derivative forward, future, and swap agreements on government securities, indexes, and currencies.

    By Ivan Kading
  • uploads///chart
    Macroeconomic Analysis

    PLVVX: Weak Emerging Economies Lead to Poor Performance

    The PIMCO RAE Low Volatility Plus Emerging Fund Class A (PLVVX) is an alternative mutual fund that mimics the long/short strategy to construct a portfolio with low volatility and high-income securities.

    By Ivan Kading
  • uploads///US High Yield Bond Fund Flows
    Company & Industry Overviews

    Outflows in High-Yield Funds Fell, Yield on High-Yield Bonds Rose

    Investor flows in high-yield bond funds were negative last week. According to Lipper, the net outflows from high-yield bond funds totaled $0.5 billion.

    By Lynn Noah
  • uploads///Chart
    Company & Industry Overviews

    What Is Bankruptcy Investing?

    Informed investors can profit from businesses that have filed for bankruptcy. A chapter 11 bankruptcy gives a company a second chance to revive its business.

    By Ivan Kading
  • uploads///Chart
    Company & Industry Overviews

    Why Distressed Debt Investment Is Key in Bankruptcy Investing

    During the period of bankruptcy, investors can buy distressed debt at a far cheaper rate from the secondary market.

    By Ivan Kading
  • uploads///Junk Bond Yields in  and
    Company & Industry Overviews

    Ally Financial Issues $1.4 Billion in Junk Bonds Last Week

    The number of high-yield bond issuances kept the primary market very busy in the week ended May 15. Investors had a strong appetite for junk bonds.

    By David Ashworth
  • uploads///santander
    Fund Managers

    Maverick Capital Bumps Up Santander by $70 Million in Q4

    Maverick Capital increased its position in Santander Consumer USA Holdings (SC) by more than $70 million in stock. Santander accounts for 4.44% of the fund’s portfolio in 4Q14.

    By Patricia Garner
  • uploads///FOMC composition
    Macroeconomic Analysis

    Why the Federal Reserve’s Meeting Minutes Affect Your Investments

    You don’t have to be an institutional investor or money manager for the FOMC’s meeting minutes to have an impact on your investments.

    By David Ashworth
  • uploads///Ally Financial_Key Facts
    Fund Managers

    Oaktree Capital Boosts Holdings in Ally Financial

    Ally Financial joined TARP in 2008 as part of an effort to stabilize the US auto industry. The firm went on to become a major provider of auto finance.

    By Stuart McKenzie
  • uploads///Non Investment Grade Bonds Yields Spreads
    Company & Industry Overviews

    High Yield Bond Funds Finally See Inflows after 2 Weeks

    Ally Financial, Whiting Petroleum, and Cliffs Natural Resources were among the most prolific issuers of high yield bonds in the primary market.

    By David Ashworth
  • uploads///Junk Bond Yields in  and
    Company & Industry Overviews

    Ally Financial and Whiting Petroleum: The Biggest Debt Issuers

    Ally Financial (ALLY) provided financial services and products to auto dealers in the US. It issued $1.25 billion in BB+ rated senior notes in two tranches.

    By David Ashworth
  • uploads///US High Yield Bond Market Issuance
    Company & Industry Overviews

    High Yield Debt Issuance Gains Momentum

    Following the Fed’s monetary policy announcement, issuers of junk bonds, or high yield debt, returned to the market in the week leading up to March 27.

    By David Ashworth
  • uploads///Portfolio segmentation
    Company & Industry Overviews

    Eased Lending Standards Boost BB&T’s Auto Lending

    Easing underwriting standards across auto lenders is leading to an increase in subprime lending. Dealer Financial Services grew average loans by 10.5% compared to 2013.

    By Rekha Khandelwal, CFA
  • uploads///Junk Bond Yields in  and
    Macroeconomic Analysis

    Why did companies aggressively raise debt?

    Pricing was competitive for BB-rated borrowers, and higher rated issuers could issue debt at lower rates. Companies began to aggressively raise debt.

    By David Ashworth
  • uploads/// Loan Segments Q
    Financials

    Credit card loan growth strong for Wells Fargo in 4Q14

    Total credit card loans outstanding at Wells Fargo stood at $31.12 billion at the end of 4Q14. This was a growth of 16% compared to 4Q14.

    By Saul Perez
  • uploads///Loan by type
    Financials

    How did loan types fare in 2014?

    The individual auto loan was the fastest growing segment in 2014, driven primarily by strong demand, low rates, and banks relaxing lending criteria.

    By Saul Perez
  • Consumer

    Auto loans work hard for Wells Fargo

    Wells Fargo has an expansive reach in this segment, offering loans through nearly 15,000 dealers across the U.S. It even has direct agreements with a few manufacturers, including GM.

    By Saul Perez
  • Financials

    Why Davidson Kempner eliminates position in JPMorgan Chase

    Davidson Kempner exited a position in JPMorgan Chase & Co. (JPM) that accounted for 1.29% of the fund’s 1Q14 portfolio. This position was initiated in 1Q14. JPMorgan Chase is a leading global financial services firm. It has $2.5 trillion assets. It has operations worldwide.

    By Samantha Nielson
  • uploads///OMC
    Financials

    Must-know: Davidson Kempner sells stake in Omnicom

    Davidson Kempner exited a position in Omnicom (OMC) that accounted for 1.93% of the fund’s 1Q14 portfolio. The position was initiated in 1Q14. Omnicom is a leading global advertising, marketing, and corporate communications company. It offers its services to over 5,000 clients in more than 100 countries.

    By Samantha Nielson
  • uploads///NWL
    Consumer

    Why Davidson Kempner initiates new position in Newell Rubbermaid

    Davidson Kempner initiated a new position in Newell Rubbermaid (NWL) that accounted for 1.22% of the fund’s 2Q14 portfolio. Newell Rubbermaid is a global marketer of consumer and commercial products. The products include writing instruments, consumer products for home, tools like hand tools, and power tool accessories.

    By Samantha Nielson
  • uploads///WLRH
    Consumer

    Why Davidson Kempner adds new position in WL Ross Holding

    Davidson Kempner initiated a new position in WL Ross Holding (WLRH) that accounted for 1.85% of the fund’s 2Q14 portfolio. WL Ross is a newly organized blank check company. It was formed by billionaire Wilbur Ross. It was formed to affect a merger, capital stock exchange, asset acquisition, stock repurchase, stock purchase, reorganization, or similar business combination with one or more businesses.

    By Samantha Nielson
  • Financials

    Why Davidson Kempner adds new position in Ally Financial

    Davidson Kempner initiated a new position in Ally Financial Inc. (ALLY) that accounted for 5.5% of the fund’s 2Q14 portfolio. Ally Financial is currently the second largest position in the fund’s portfolio. Ally Financial is an automotive financial services company. It has ~95 years of experience.

    By Samantha Nielson
  • uploads///DavidsonQ
    Consumer

    Overview: Davidson Kempner Capital Management’s 2Q14 positions

    Davidson Kempner Capital Management LLC is a hedge fund manager. It manages ~$22 billion in assets. In 2Q14, Davidson Kempner Capital added new positions in Ally Financial Inc. (ALLY), WL Ross Holding (or WLRH), Newell Rubbermaid (NWL), and B/E Aerospace (BEAV).

    By Samantha Nielson
  • Financials

    D. E. Shaw initiates a new position in Ally Financial

    D. E. Shaw initiated a new position in Ally Financial that accounts for 0.13% of the company’s U.S. long portfolio. Ally Financial is an automotive financial services company with ~95 years of experience.

    By Samantha Nielson
  • uploads///NAVI
    Financials

    D. E. Shaw adds a new position in Navient

    D. E. Shaw initiated a new position in Navient that accounts for 0.28% of the company’s U.S. long portfolio. Navient holds the largest portfolio of education loans insured or guaranteed under the Federal Family Education Loan Program (referred to as FFELP loans).

    By Samantha Nielson
  • Financials

    Bear strategy: Profit from rising rates with fixed income ETFs

    Investors could consider hedging their short-term duration risk (HYG: 3.98 years, JNK: 4.20 years) with a short position in longer-dated bonds.

    By Marc Wiersum, MBA
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