Edgestream Partners L.P. lowered its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 28.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,026 shares of the real estate investment trust's stock after selling 11,052 shares during the quarter. Edgestream Partners L.P. owned about 0.05% of PennyMac Financial Services worth $2,806,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. CWM LLC lifted its position in shares of PennyMac Financial Services by 71.5% during the 1st quarter. CWM LLC now owns 271 shares of the real estate investment trust's stock valued at $27,000 after acquiring an additional 113 shares during the period. TD Waterhouse Canada Inc. acquired a new stake in shares of PennyMac Financial Services during the 4th quarter valued at approximately $39,000. Sterling Capital Management LLC lifted its position in shares of PennyMac Financial Services by 601.8% during the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock valued at $41,000 after acquiring an additional 343 shares during the period. Aquatic Capital Management LLC acquired a new stake in shares of PennyMac Financial Services during the 4th quarter valued at approximately $71,000. Finally, Xponance Inc. acquired a new stake in shares of PennyMac Financial Services during the 1st quarter valued at approximately $202,000. Hedge funds and other institutional investors own 57.87% of the company's stock.
Insider Buying and Selling at PennyMac Financial Services
In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 10,500 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $99.45, for a total value of $1,044,225.00. Following the completion of the transaction, the chief financial officer directly owned 234,025 shares in the company, valued at approximately $23,273,786.25. The trade was a 4.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Spector sold 5,000 shares of the business's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $100.81, for a total value of $504,050.00. Following the completion of the transaction, the chief executive officer owned 135,604 shares of the company's stock, valued at $13,670,239.24. This trade represents a 3.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 36,500 shares of company stock worth $3,616,005. Insiders own 15.80% of the company's stock.
Wall Street Analyst Weigh In
PFSI has been the subject of a number of research reports. Barclays reduced their price target on shares of PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating for the company in a research report on Tuesday, July 8th. UBS Group reiterated a "neutral" rating and set a $115.00 price target (up from $110.00) on shares of PennyMac Financial Services in a research report on Tuesday. Wells Fargo & Company reduced their price target 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. Piper Sandler cut their price objective on PennyMac Financial Services from $128.00 to $125.00 and set an "overweight" rating for the company in a research report on Tuesday, July 1st. Finally, Keefe, Bruyette & Woods lifted their price objective on PennyMac Financial Services from $114.00 to $121.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $121.67.
Get Our Latest Stock Report on PFSI
PennyMac Financial Services Trading Up 0.9%
Shares of PennyMac Financial Services stock opened at $99.45 on Thursday. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.30 and a quick ratio of 0.30. PennyMac Financial Services, Inc. has a 1 year low of $85.74 and a 1 year high of $119.13. The company has a market capitalization of $5.14 billion, a P/E ratio of 15.25, a P/E/G ratio of 0.21 and a beta of 1.53. The business has a 50 day moving average price of $98.02 and a 200 day moving average price of $99.75.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.99 by ($1.57). The company 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 14.78% and a net margin of 20.27%. During the same quarter in the prior year, the firm earned $0.74 earnings per share. Sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.
PennyMac Financial Services Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Wednesday, May 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.20 annualized dividend and a yield of 1.21%. PennyMac Financial Services's dividend payout ratio (DPR) 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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