Charles Schwab Investment Management Inc. Has $45.77 Million Stake in PennyMac Financial Services, Inc. $PFSI

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in PennyMac Financial Services by 0.8%, owning 457,234 shares valued at approximately $45.77 million as of the last reporting period.
• Insider transactions included Director Joseph F. Mazzella selling 7,107 shares and CEO David Spector selling 5,000 shares, reducing their ownership by 7.63% and 3.56%, respectively.
• PennyMac Financial Services reported earnings per share (EPS) of $1.02, missing the analysts' consensus estimate of $3.01, and announced a dividend of $0.30 per share.

Charles Schwab Investment Management Inc. raised its stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 0.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 457,234 shares of the real estate investment trust's stock after buying an additional 3,424 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.89% of PennyMac Financial Services worth $45,774,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. CWM LLC increased its stake in PennyMac Financial Services by 71.5% in the 1st quarter. CWM LLC now owns 271 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 113 shares during the period. Hohimer Wealth Management LLC increased its stake in PennyMac Financial Services by 5.4% in the 1st quarter. Hohimer Wealth Management LLC now owns 2,351 shares of the real estate investment trust's stock valued at $235,000 after buying an additional 121 shares during the period. Summit Investment Advisors Inc. increased its stake in PennyMac Financial Services by 5.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 2,797 shares of the real estate investment trust's stock valued at $286,000 after buying an additional 154 shares during the period. Sterling Capital Management LLC increased 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 valued at $41,000 after buying an additional 343 shares during the period. Finally, TD Waterhouse Canada Inc. acquired a new position in PennyMac Financial Services in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 57.87% of the company's stock.

Insiders Place Their Bets

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

PennyMac Financial Services Stock Down 1.8%

Shares of PFSI traded down $1.87 during mid-day trading on Thursday, hitting $103.42. 454,645 shares of the company's stock were exchanged, compared to its average volume of 402,976. The firm has a fifty day moving average of $99.53 and a two-hundred day moving average of $98.93. PennyMac Financial Services, Inc. has a twelve month low of $85.74 and a twelve month high of $119.13. The stock has a market cap of $5.35 billion, a price-to-earnings ratio of 14.34 and a beta of 1.50. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 3.03.

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

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Wednesday, August 13th will be paid a $0.30 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.2%. PennyMac Financial Services's dividend payout ratio (DPR) is presently 16.64%.

Analyst Ratings Changes

Several research firms have weighed in on PFSI. Barclays dropped their price objective on shares of PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 8th. Wells Fargo & Company dropped their price objective on shares of PennyMac Financial Services from $120.00 to $115.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Wall Street Zen lowered shares of PennyMac Financial Services from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Piper Sandler dropped their price target on shares of PennyMac Financial Services from $125.00 to $121.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Finally, UBS Group dropped their price target on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a research note on Thursday, July 24th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $118.67.

About PennyMac Financial Services

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.