Geode Capital Management LLC increased its position in shares of PHH Corp (NYSE:PHH) by 14.2% during the first quarter, Holdings Channel reports. The institutional investor owned 422,907 shares of the credit services provider’s stock after buying an additional 52,470 shares during the period. Geode Capital Management LLC’s holdings in PHH Corp were worth $5,383,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in PHH Corp during the fourth quarter worth approximately $13,946,000. Royce & Associates LP increased its stake in PHH Corp by 535.4% in the first quarter. Royce & Associates LP now owns 482,428 shares of the credit services provider’s stock worth $6,141,000 after buying an additional 406,500 shares in the last quarter. Vanguard Group Inc. increased its stake in PHH Corp by 4.1% in the first quarter. Vanguard Group Inc. now owns 4,356,728 shares of the credit services provider’s stock worth $55,461,000 after buying an additional 171,346 shares in the last quarter. TFS Capital LLC bought a new stake in PHH Corp during the first quarter worth approximately $1,122,000. Finally, OppenheimerFunds Inc. bought a new stake in PHH Corp during the first quarter worth approximately $698,000. Institutional investors and hedge funds own 96.45% of the company’s stock.

Shares of PHH Corp (NYSE:PHH) traded up 0.50% during midday trading on Friday, hitting $14.02. The company’s stock had a trading volume of 552,280 shares. The company’s market cap is $747.84 million. The company has a 50-day moving average price of $13.92 and a 200 day moving average price of $13.45. PHH Corp has a 1-year low of $11.76 and a 1-year high of $15.92.

PHH Corp (NYSE:PHH) last announced its earnings results on Tuesday, August 8th. The credit services provider reported ($0.81) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.31) by $0.50. PHH Corp had a negative return on equity of 19.92% and a negative net margin of 55.15%. The firm had revenue of $112 million for the quarter, compared to the consensus estimate of $121.80 million. During the same quarter in the previous year, the business earned ($0.08) EPS. The company’s revenue was down 42.9% compared to the same quarter last year. On average, equities research analysts predict that PHH Corp will post ($1.57) EPS for the current year.

PHH Corp declared that its Board of Directors has authorized a share repurchase program on Tuesday, May 9th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the credit services provider to reacquire up to 14.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

WARNING: “PHH Corp (NYSE:PHH) Position Raised by Geode Capital Management LLC” was originally reported by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another domain, it was copied illegally and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be accessed at

Several brokerages have issued reports on PHH. ValuEngine downgraded PHH Corp from a “sell” rating to a “strong sell” rating in a report on Thursday, May 25th. Zacks Investment Research upgraded PHH Corp from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Finally, Wedbush downgraded PHH Corp from an “outperform” rating to a “neutral” rating and set a $14.50 price target for the company. in a report on Tuesday, June 20th.

PHH Corp Company Profile

PHH Corporation is a standalone mortgage company. The Company provides outsourced mortgage banking services to a range of clients, including financial institutions and real estate brokers throughout the United States, and is focused on originating, selling, servicing and subservicing residential mortgage loans through its subsidiary, PHH Mortgage Corporation and its subsidiaries.

Want to see what other hedge funds are holding PHH? Visit to get the latest 13F filings and insider trades for PHH Corp (NYSE:PHH).

Institutional Ownership by Quarter for PHH Corp (NYSE:PHH)

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