Crestline Management LP purchased a new stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,533 shares of the real estate investment trust's stock, valued at approximately $974,000.
Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of PennyMac Financial Services in the fourth quarter worth about $38,004,000. Vanguard Group Inc. grew its stake in shares of PennyMac Financial Services by 7.4% in the 4th quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust's stock valued at $294,835,000 after purchasing an additional 199,667 shares during the period. Boston Partners boosted its holdings in shares of PennyMac Financial Services by 50.1% in the 4th quarter. Boston Partners now owns 497,080 shares of the real estate investment trust's stock worth $51,313,000 after acquiring an additional 165,997 shares in the last quarter. FMR LLC lifted its holdings in PennyMac Financial Services by 11.9% during the 4th quarter. FMR LLC now owns 1,305,851 shares of the real estate investment trust's stock worth $133,380,000 after buying an additional 138,853 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of PennyMac Financial Services by 48.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 320,250 shares of the real estate investment trust's stock valued at $32,710,000 after purchasing an additional 104,022 shares during the period. Institutional investors and hedge funds own 57.87% of the company's stock.
Insider Buying and Selling
In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 11,000 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $98.23, for a total value of $1,080,530.00. Following the completion of the sale, the director now directly owns 92,863 shares of the company's stock, valued at approximately $9,121,932.49. This represents a 10.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $101.49, for a total transaction of $1,065,645.00. Following the transaction, the chief financial officer now directly owns 214,997 shares of the company's stock, valued at $21,820,045.53. This represents a 4.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,464 shares of company stock worth $5,621,397 in the last quarter. Insiders own 16.60% of the company's stock.
Analyst Upgrades and Downgrades
PFSI has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their price objective on shares of PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. UBS Group reduced their price target on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price objective for the company in a research report on Tuesday, April 8th. Finally, Piper Sandler dropped their price target on shares of PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $121.17.
Read Our Latest Stock Report on PFSI
PennyMac Financial Services Trading Up 1.4%
Shares of PennyMac Financial Services stock traded up $1.35 during trading on Thursday, hitting $100.13. The company's stock had a trading volume of 103,193 shares, compared to its average volume of 305,062. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 0.19 and a beta of 1.60. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. PennyMac Financial Services, Inc. has a 52 week low of $85.74 and a 52 week high of $119.13. The stock has a 50-day moving average price of $97.53 and a two-hundred day moving average price of $101.54.
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). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. The company had revenue of $430.90 million for the quarter, compared to analyst estimates of $520.42 million. During the same quarter in the prior year, the company posted $0.74 EPS. Equities research analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.
PennyMac Financial Services Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors 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 1.20%. PennyMac Financial Services's dividend payout ratio is presently 18.40%.
About PennyMac Financial Services
(
Free Report)
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.
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