Alliancebernstein L.P. Has $2.99 Million Stake in PennyMac Financial Services, Inc. (PFSI)

Alliancebernstein L.P. cut its position in PennyMac Financial Services, Inc. (NYSE:PFSI) by 6.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 175,545 shares of the real estate investment trust’s stock after selling 12,605 shares during the period. Alliancebernstein L.P.’s holdings in PennyMac Financial Services were worth $2,993,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Dynamic Technology Lab Private Ltd acquired a new stake in PennyMac Financial Services during the first quarter worth approximately $488,000. American International Group Inc. boosted its stake 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 worth $143,000 after buying an additional 562 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in PennyMac Financial Services during the first quarter worth approximately $101,000. Nordea Investment Management AB boosted its stake 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 worth $2,539,000 after buying an additional 27,900 shares in the last quarter. Finally, Oxford Asset Management boosted its stake 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 worth $1,035,000 after buying an additional 4,050 shares in the last quarter. 85.84% of the stock is currently owned by institutional investors.

PennyMac Financial Services, Inc. (PFSI) opened at 16.75 on Monday. The company has a 50-day moving average price of $16.47 and a 200 day moving average price of $16.93. PennyMac Financial Services, Inc. has a 52-week low of $11.47 and a 52-week high of $19.35. The stock has a market cap of $391.80 million, a price-to-earnings ratio of 5.27 and a beta of 0.59.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.64 by $0.17. PennyMac Financial Services had a net margin of 7.23% and a return on equity of 5.19%. The firm had revenue of $204.50 million during the quarter, compared to analysts’ expectations of $231.82 million. During the same period last year, the company earned $0.23 EPS. The business’s quarterly revenue was up 42.9% on a year-over-year basis. On average, analysts expect that PennyMac Financial Services, Inc. will post $2.60 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Alliancebernstein L.P. Has $2.99 Million Stake in PennyMac Financial Services, Inc. (PFSI)” was first published by WKRB News and is the property of of WKRB News. If you are viewing this piece of content on another site, it was illegally stolen and reposted in violation of US and international copyright and trademark laws. The original version of this piece of content can be read at https://www.wkrb13.com/markets/2284402/alliancebernstein-l-p-has-2-99-million-stake-in-pennymac-financial-services-inc-pfsi.html.

A number of equities research analysts have commented on PFSI shares. Keefe, Bruyette & Woods reissued a “buy” rating and set a $21.00 price target on shares of PennyMac Financial Services in a report on Thursday, April 6th. Zacks Investment Research lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, April 12th. ValuEngine lowered PennyMac Financial Services from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 6th. Finally, TheStreet lowered PennyMac Financial Services from a “b-” rating to a “c+” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $19.44.

In other news, insider Stanford L. Kurland sold 34,413 shares of the stock in a transaction that occurred on Thursday, April 20th. The shares were sold at an average price of $16.48, for a total value of $567,126.24. Following the completion of the sale, the insider now owns 55,358 shares of the company’s stock, valued at approximately $912,299.84. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Anne Mccallion sold 1,524 shares of the stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $16.55, for a total transaction of $25,222.20. The disclosure for this sale can be found here. In the last three months, insiders sold 137,416 shares of company stock valued at $2,274,573. Corporate insiders own 45.64% of the company’s stock.

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.

Want to see what other hedge funds are holding PFSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PennyMac Financial Services, Inc. (NYSE:PFSI).

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

This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2284402/alliancebernstein-l-p-has-2-99-million-stake-in-pennymac-financial-services-inc-pfsi.html

Receive News & Ratings for PennyMac Financial Services Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Financial Services Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 


Leave a Reply

 
© 2006-2017 WKRB News.