Brandywine Global Investment Management LLC Has $166,000 Holdings in PennyMac Financial Services, Inc. (PFSI)

Brandywine Global Investment Management LLC cut its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 2.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,914 shares of the real estate investment trust’s stock after selling 216 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in PennyMac Financial Services were worth $166,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Victory Capital Management Inc. bought a new stake in PennyMac Financial Services in the 1st quarter valued at $101,000. Citigroup Inc. increased its holdings in PennyMac Financial Services by 1,652.1% in the 2nd quarter. Citigroup Inc. now owns 6,150 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 5,799 shares during the period. American International Group Inc. increased its holdings in PennyMac Financial Services by 7.2% in the 1st quarter. American International Group Inc. now owns 8,384 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 562 shares during the period. Voya Investment Management LLC bought a new stake in PennyMac Financial Services in the 2nd quarter valued at $174,000. Finally, Menta Capital LLC bought a new stake in PennyMac Financial Services in the 1st quarter valued at $202,000. Hedge funds and other institutional investors own 86.57% of the company’s stock.

Shares of PennyMac Financial Services, Inc. (NYSE PFSI) opened at 18.05 on Friday. PennyMac Financial Services, Inc. has a 52 week low of $15.65 and a 52 week high of $19.35. The stock has a 50 day moving average price of $17.46 and a 200-day moving average price of $16.96. The company has a market capitalization of $424.36 million, a PE ratio of 6.10 and a beta of 0.62.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Thursday, August 3rd. The real estate investment trust reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.66 by ($0.22). The company had revenue of $201.72 million during the quarter, compared to analyst estimates of $181.89 million. PennyMac Financial Services had a return on equity of 4.79% and a net margin of 6.87%. Equities research analysts expect that PennyMac Financial Services, Inc. will post $2.64 EPS for the current year.

PennyMac Financial Services declared that its board has authorized a stock buyback program on Wednesday, June 21st that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the real estate investment trust to buy up to 137% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

In other PennyMac Financial Services news, insider David M. Walker sold 10,000 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $17.62, for a total value of $176,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Anne Mccallion sold 5,000 shares of the business’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $17.57, for a total value of $87,850.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,565 shares of company stock valued at $2,911,053. 45.64% of the stock is currently owned by corporate insiders.

Several brokerages have issued reports on PFSI. Zacks Investment Research lowered shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. BidaskClub upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Piper Jaffray Companies restated a “buy” rating on shares of PennyMac Financial Services in a research note on Tuesday, September 19th. Finally, ValuEngine upgraded shares of PennyMac Financial Services from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $20.25.

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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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Institutional Ownership by Quarter for PennyMac Financial Services (NYSE:PFSI)

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