BlackRock shifts PennyMac stake to charitable entities

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BlackRock shifts PennyMac stake to charitable entities

By Staff Report / Friday, February 14th, 2020 / Comments Off on BlackRock shifts PennyMac stake to charitable entities

Westlake Village-based PennyMac Financial Services announced Feb. 13 that investor BlackRock is divesting its remaining 20 percent ownership of the company. The shares were gifted to two charitable entities, the Blackrock Charitable Fund and The Blackrock Foundation. Subsequently, the Blackrock Charitable Fund sold 7.8 million shares of PennyMac Financial Services common stock in an unregistered…

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