TIAA CREF Investment Management LLC boosted its position in PennyMac Financial Services, Inc. (NYSE:PFSI) by 102.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 75,656 shares of the real estate investment trust’s stock after buying an additional 38,244 shares during the period. TIAA CREF Investment Management LLC’s holdings in PennyMac Financial Services were worth $1,290,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. American International Group Inc. boosted its position in PennyMac Financial Services by 7.2% in the first 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 last quarter. Victory Capital Management Inc. bought a new position in PennyMac Financial Services during the first quarter valued at approximately $101,000. Nordea Investment Management AB boosted its position in PennyMac Financial Services by 23.1% in the first quarter. Nordea Investment Management AB now owns 148,928 shares of the real estate investment trust’s stock valued at $2,539,000 after buying an additional 27,900 shares during the last quarter. Oxford Asset Management boosted its position in PennyMac Financial Services by 7.1% in the first quarter. Oxford Asset Management now owns 60,731 shares of the real estate investment trust’s stock valued at $1,035,000 after buying an additional 4,050 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in PennyMac Financial Services during the first quarter valued at approximately $378,000. 84.85% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Financial Services, Inc. (PFSI) remained flat at $17.05 during trading on Tuesday. 2,771 shares of the stock traded hands. PennyMac Financial Services, Inc. has a one year low of $15.65 and a one year high of $19.35. The firm’s 50 day moving average is $17.23 and its 200-day moving average is $17.07. The firm has a market cap of $400.85 million, a PE ratio of 5.76 and a beta of 0.60.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Thursday, August 3rd. The real estate investment trust reported $0.44 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.66 by $0.22. PennyMac Financial Services had a net margin of 6.87% and a return on equity of 4.79%. The business had revenue of $201.72 million during the quarter, compared to the consensus estimate of $181.89 million. 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 buyback program on Wednesday, June 21st that permits the company to buyback $50.00 million in shares. This buyback authorization permits the real estate investment trust to repurchase up to 137% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

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Several equities analysts have commented on the stock. Zacks Investment Research cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. ValuEngine raised shares of PennyMac Financial Services from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Finally, TheStreet cut shares of PennyMac Financial Services from a “b-” rating to a “c+” rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. PennyMac Financial Services has an average rating of “Buy” and an average price target of $19.86.

In other PennyMac Financial Services news, insider Anne Mccallion sold 5,000 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $16.95, for a total transaction of $84,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Botein sold 2,841 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $17.35, for a total value of $49,291.35. The disclosure for this sale can be found here. Insiders sold 92,841 shares of company stock valued at $1,561,841 over the last ninety days. 45.64% of the stock is currently owned by company insiders.

About PennyMac Financial Services

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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