Richard Perry (Trades, Portfolio) co-founded private investment management firm Perry Capital LLC in 1988. During the third quarter the guru’s largest sells were the following:
His stake in American International Group Inc. (AIG) was closed with an impact of -13.65% on the portfolio.
It is a holding company and through its subsidiaries provides insurance and related services in the U.S. and abroad. Third-quarter net income was $462 million, or 42 cents per diluted share compared to a net loss of $231 million, or 18 cents per diluted share, in the same quarter of a year before.
GuruFocus gives the stock a profitability and growth rating of 4 out of 10 with ROE of 0.39% and ROA of 0.07% that are underperforming 80% of the companies in the Global Insurance – Diversified industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.08.
The largest shareholder among the gurus is Carl Icahn (Trades, Portfolio) with 4.44% of outstanding shares followed by HOTCHKIS & WILEY with 1.65%, First Pacific Advisors (Trades, Portfolio) with 1.21%, John Paulson (Trades, Portfolio) with 0.88%, Steven Romick (Trades, Portfolio) with 0.84%, First Eagle Investment (Trades, Portfolio) with 0.81%, Barrow, Hanley, Mewhinney & Strauss with 0.74% and Bill Nygren (Trades, Portfolio) with 0.69%.
The investor exited Ball Corp. (BLL) with an impact of -13.57% on the portfolio.
The company is a supplier of metal and plastic packaging to the beverage, food and household products industries. Third quarter comparable earnings per diluted share and year to date were 96 cents and $2.61 versus third quarter and year-to-date comparable earnings per diluted share of $1.10 and $2.67 in 2015.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of 14.40% and ROA of 2.23% that are underperforming 70% of the companies in the Global Packaging & Containers industry. Financial strength has a rating of 4 out of 10 with cash to debt of 0.08 that is below the industry median of 0.49.
Steven Cohen (Trades, Portfolio) is the largest shareholder with 0.38% of outstanding shares followed by Leon Cooperman (Trades, Portfolio) with 0.37%, Jim Simons (Trades, Portfolio) with 0.36%, RS Investment Management (Trades, Portfolio) with 0.25%, Caxton Associates (Trades, Portfolio) with 0.2% and Pioneer Investments (Trades, Portfolio) with 0.1%.
The guru reduced his stake in Ally Financial Inc. (ALLY) by 66.85% with an impact of -12.55% on the portfolio.
The company offers financial products and services to automotive dealers and their customers. It is engaged in Dealer Financial Services and Mortgage, Corporate and Other business. Third quarter net income was $209 million, compared to net income of $268 million in the same quarter of a year before.
GuruFocus gives the stock a profitability and growth rating of 4 out of 10 with ROE of -1.18% and ROA of 0.69% that are underperforming 90% of the companies in the Global Specialty Finance industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.07 that is below the industry median of 2.06%.
The largest shareholder among the gurus is Nygren with 3.32% of outstanding shares followed by First Pacific Advisors with 2.28%, Howard Marks (Trades, Portfolio) with 2.21%, Romick with 2.11%, Perry with 1.11%, Jeremy Grantham (Trades, Portfolio) with 0.56%, Richard Snow (Trades, Portfolio) with 0.48%, HOTCHKIS & WILEY with 0.15%, Cohen with 0.15% and Simons with 0.14%.
The investor reduced his shares in AerCap Holdings NVĂ‚ (AER) by 69.98% with an impact of -9.71% on the portfolio.
The company provides aircraft leasing and aviation finance services. Its activities also include aircraft asset management, corporate services, remarketing of aircraft, collecting rental, maintenance payments and monitoring aircraft maintenance. Third quarter net income was $225.6 million, compared with $293.9 million for the same period of 2015 and adjusted net income was $310.6 million, compared with $327.0 million in the third quarter of a year before.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10 with ROE of 11.39% and ROA of 2.20% that are underperforming 56% of the companies in the Global Airports & Air Services industry. Financial strength has a rating of 3 out of 10 with cash to debt of 0.08 that is below the industry median of 0.34.
The largest shareholder among the gurus is David Einhorn (Trades, Portfolio) with 6.27% of outstanding shares followed by Donald Smith (Trades, Portfolio) with 0.5%, Cooperman with 2.54%, Perry with 0.98%, Grantham with 0.53%, Louis Moore Bacon (Trades, Portfolio) with 0.42% and Mohnish Pabrai (Trades, Portfolio) with 0.34%.
The guru exited Time Warner Inc. (TWX) with an impact of -4.56% on the portfolio.
It is a media and entertainment company. It operates its business in four segments which includes Turner, Home Box Office, Warner Bros. and Time Inc. During the last quarter revenues grew 9% and operating income increased 10%. The company reported a 48% increase in earnings per share and 46% increase in adjusted earnings per share.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 18.82% and ROA of 7.02% that are outperforming 74% of the companies in the Global Media – Diversified industry. Financial strength has a rating of 4 out of 10 with cash to debt of 0.09 that is below the industry median of 1.46.
Dodge & Cox is the largest shareholder among the gurus with 4.86% of outstanding shares followed by Manning & Napier Advisors Inc. with 0.73%, Einhorn with 0.61%, Pioneer Investments with 0.55%, Spiros Segalas (Trades, Portfolio) with 0.49%, Mario Gabelli (Trades, Portfolio) with 0.36% and NWQ Managers (Trades, Portfolio) with 0.11%.
The guru exited Johnson & Johnson (JNJ) with an impact of -2.48% on the portfolio.
It is a holding company that is engaged in the research and development, manufacture and sale of products in the health care field within its Consumer, Pharmaceutical and Medical Devices and Diagnostics business segments. Third quarter sales grew 4.2% year over year and operational sales increased 4.3% from the same quarter of a year before.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10 with ROE of 21.88% and ROA of 11.55% that are outperforming 84% of the companies in the Global Drug Manufacturers - Major industry. Financial strength has a rating of 7 out of 10 with cash to debt of 1.50 that is below the industry median of 2.93.
The largest shareholder among the gurus is Barrow, Hanley, Mewhinney & Strauss with 0.45% of outstanding shares followed by Ken Fisher (Trades, Portfolio) with 0.4%, Grantham with 0.27%, Donald Yacktman (Trades, Portfolio) with 0.23%, T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.12%, Yacktman Fund (Trades, Portfolio) with 0.12%, Tweedy Browne (Trades, Portfolio) with 0.12% and Pioneer Investments with 0.12%.
The guru closed his stake in St. Jude Medical Inc. (STJ) with an impact of -1.44% on the portfolio.
The company develops, manufactures and distributes cardiovascular medical devices for global cardiac rhythm management, cardiovascular, atrial fibrillation therapy areas and neurostimulation medical devices for the management of chronic pain.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 15.74% and ROA of 5.33% that are outperforming 68% of the companies in the Global Medical Devices industry. Financial strength has a rating of 5 out of 10, with cash to debt of 0.07 that is below industry median of 2.34.
Vanguard Health Care Fund (Trades, Portfolio) is the largest shareholder among the gurus with 2.14% of outstanding shares followed by Mairs and Power (Trades, Portfolio) with 1.02%, Daniel Loeb (Trades, Portfolio) with 0.91%, Grantham with 0.44%, John Rogers (Trades, Portfolio) with 0.34% and First Eagle Investment with 0.19%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
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