Nordea Investment Management AB Has $2.38 Million Stake in PennyMac Financial Services, Inc. (PFSI)
Nordea Investment Management AB lowered its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 4.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 142,700 shares of the real estate investment trust’s stock after selling 6,228 shares during the quarter. Nordea Investment Management AB owned about 0.61% of PennyMac Financial Services worth $2,383,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. purchased a new stake in shares of PennyMac Financial Services during the 1st quarter valued at about $101,000. Citigroup Inc. lifted its position in PennyMac Financial Services by 1,652.1% during the 2nd quarter. Citigroup Inc. now owns 6,150 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 5,799 shares in the last quarter. American International Group Inc. lifted its position in PennyMac Financial Services by 7.2% during the 1st quarter. American International Group Inc. now owns 8,384 shares of the real estate investment trust’s stock worth $143,000 after acquiring an additional 562 shares in the last quarter. Menta Capital LLC acquired a new position in PennyMac Financial Services during the 1st quarter worth approximately $202,000. Finally, Goldman Sachs Group Inc. lifted its position in PennyMac Financial Services by 18.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 13,390 shares of the real estate investment trust’s stock worth $228,000 after acquiring an additional 2,094 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.
PennyMac Financial Services, Inc. (NYSE:PFSI) opened at 17.80 on Monday. The firm has a market cap of $418.48 million, a PE ratio of 6.02 and a beta of 0.61. The company has a 50 day moving average price of $17.11 and a 200 day moving average price of $16.88. PennyMac Financial Services, Inc. has a 1-year low of $15.65 and a 1-year high of $19.35.
PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.22). PennyMac Financial Services had a return on equity of 4.79% and a net margin of 6.87%. The firm had revenue of $201.72 million for the quarter, compared to the consensus estimate of $181.89 million. On average, equities research analysts forecast that PennyMac Financial Services, Inc. will post $2.64 earnings per share for the current year.
PennyMac Financial Services announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 21st that allows the company to buyback $50.00 million in shares. This buyback authorization allows the real estate investment trust to reacquire up to 137% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
A number of equities analysts have weighed in on PFSI shares. Zacks Investment Research cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. ValuEngine lowered shares of PennyMac Financial Services from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 17th. BidaskClub upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Finally, Piper Jaffray Companies reissued a “buy” rating on shares of PennyMac Financial Services in a research report on Tuesday, September 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $19.80.
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In other PennyMac Financial Services news, insider Jeffrey Grogin sold 3,000 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $16.60, for a total transaction of $49,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David M. Walker sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $16.72, for a total transaction of $83,600.00. The disclosure for this sale can be found here. Insiders sold a total of 162,553 shares of company stock worth $2,785,687 in the last quarter. Insiders own 45.64% of the company’s stock.
PennyMac Financial Services Profile
PennyMac Financial Services, Inc (PFSI) is a financial services company. The Company is focused on the production and servicing of the United States residential mortgage loans and the management of investments related to the United States mortgage market. The Company operates through three segments: loan production, loan servicing and investment management.
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