6,441 Shares in PennyMac Financial Services, Inc. $PFSI Acquired by Northwest & Ethical Investments L.P.

Key Points

• Northwest & Ethical Investments L.P. acquired 6,441 shares of PennyMac Financial Services, Inc. valued at approximately $644,000 in the first quarter.
• PennyMac Financial Services reported a net loss in earnings per share for the latest quarter, missing estimates with an EPS of $1.02 compared to the consensus estimate of $3.01.
• The company announced a quarterly dividend of $0.30, resulting in an annualized yield of 1.1%, to be paid on August 22nd to investors of record.

Northwest & Ethical Investments L.P. acquired a new stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,441 shares of the real estate investment trust's stock, valued at approximately $644,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. CWM LLC raised its position in PennyMac Financial Services by 71.5% in the first quarter. CWM LLC now owns 271 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 113 shares during the period. Hohimer Wealth Management LLC increased its position in shares of PennyMac Financial Services by 5.4% during the first quarter. Hohimer Wealth Management LLC now owns 2,351 shares of the real estate investment trust's stock worth $235,000 after acquiring an additional 121 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of PennyMac Financial Services by 601.8% during the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock worth $41,000 after acquiring an additional 343 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new stake in shares of PennyMac Financial Services during the fourth quarter worth about $39,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of PennyMac Financial Services by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,217 shares of the real estate investment trust's stock worth $1,554,000 after acquiring an additional 606 shares during the last quarter. 57.87% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PennyMac Financial Services

In other news, CEO David Spector sold 5,000 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $105.73, for a total transaction of $528,650.00. Following the completion of the transaction, the chief executive officer directly owned 130,604 shares in the company, valued at approximately $13,808,760.92. The trade was a 3.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Joseph F. Mazzella sold 7,107 shares of the business's stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $108.16, for a total value of $768,693.12. Following the transaction, the director owned 86,050 shares of the company's stock, valued at approximately $9,307,168. This represents a 7.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,107 shares of company stock valued at $2,292,843. Insiders own 15.80% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company assumed coverage on PennyMac Financial Services in a research report on Monday. They set an "overweight" rating and a $115.00 target price on the stock. Keefe, Bruyette & Woods dropped their target price on PennyMac Financial Services from $121.00 to $117.00 and set an "outperform" rating on the stock in a research report on Thursday, July 24th. Barclays dropped their target price on PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 8th. Piper Sandler dropped their target price on PennyMac Financial Services from $125.00 to $121.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Finally, Wall Street Zen raised PennyMac Financial Services from a "sell" rating to a "hold" rating in a research report on Friday. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $118.67.

PennyMac Financial Services Stock Performance

PFSI stock traded down $0.0570 during midday trading on Monday, reaching $109.6630. The company had a trading volume of 238,280 shares, compared to its average volume of 402,826. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 3.03. The stock has a 50 day moving average price of $100.10 and a 200 day moving average price of $98.92. PennyMac Financial Services, Inc. has a fifty-two week low of $85.74 and a fifty-two week high of $119.13. The firm has a market capitalization of $5.67 billion, a PE ratio of 15.21 and a beta of 1.50.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The real estate investment trust reported $1.02 EPS for the quarter, missing analysts' consensus estimates of $3.01 by ($1.99). The company had revenue of $444.73 million during the quarter, compared to analyst estimates of $547.44 million. PennyMac Financial Services had a net margin of 22.00% and a return on equity of 12.18%. The business's revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.85 earnings per share. Analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Wednesday, August 13th were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.1%. PennyMac Financial Services's payout ratio is currently 16.64%.

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.