Bosun Asset Management LLC Has $626,000 Stock Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Bosun Asset Management LLC reduced its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 33.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,126 shares of the real estate investment trust's stock after selling 3,073 shares during the quarter. Bosun Asset Management LLC's holdings in PennyMac Financial Services were worth $626,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PFSI. Summit Investment Advisors Inc. boosted its holdings in shares of PennyMac Financial Services by 5.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,797 shares of the real estate investment trust's stock worth $286,000 after buying an additional 154 shares during the period. KBC Group NV lifted its position in shares of PennyMac Financial Services by 15.6% in the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust's stock valued at $158,000 after acquiring an additional 209 shares in the last quarter. Sterling Capital Management LLC boosted its stake in PennyMac Financial Services by 601.8% in the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 343 shares during the period. Dakota Wealth Management grew its position in PennyMac Financial Services by 2.6% during the 4th quarter. Dakota Wealth Management now owns 14,578 shares of the real estate investment trust's stock worth $1,489,000 after purchasing an additional 374 shares in the last quarter. Finally, TD Waterhouse Canada Inc. acquired a new stake in PennyMac Financial Services during the 4th quarter valued at $39,000. 57.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PennyMac Financial Services

In related news, Director Joseph F. Mazzella sold 11,000 shares of PennyMac Financial Services stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $98.23, for a total value of $1,080,530.00. Following the completion of the transaction, the director now directly owns 92,863 shares of the company's stock, valued at $9,121,932.49. The trade was a 10.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Abbie Tidmore sold 2,669 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $102.55, for a total transaction of $273,705.95. Following the transaction, the executive now owns 4,878 shares in the company, valued at approximately $500,238.90. This trade represents a 35.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,464 shares of company stock valued at $5,621,397 in the last 90 days. 16.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PFSI has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 target price on the stock in a research note on Tuesday, April 8th. UBS Group lowered their target price on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Piper Sandler decreased their price target on PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company cut their price objective on PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $121.17.

PennyMac Financial Services Stock Performance

Shares of PFSI traded up $0.67 during trading hours on Thursday, reaching $98.35. 178,771 shares of the company traded hands, compared to its average volume of 305,273. PennyMac Financial Services, Inc. has a 1-year low of $85.74 and a 1-year high of $119.13. The stock has a market cap of $5.06 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 0.19 and a beta of 1.60. The stock's fifty day moving average is $97.78 and its 200 day moving average is $101.61. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share for the quarter, missing the consensus estimate of $2.99 by ($1.57). The firm had revenue of $430.90 million for the quarter, compared to analyst estimates of $520.42 million. PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. During the same period in the previous year, the business posted $0.74 EPS. Equities research analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Wednesday, May 14th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.22%. PennyMac Financial Services's payout ratio is presently 18.40%.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.