Invesco Ltd. Acquires 53,660 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Invesco Ltd. boosted its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,237,118 shares of the real estate investment trust's stock after acquiring an additional 53,660 shares during the period. Invesco Ltd. owned 2.39% of PennyMac Financial Services worth $123,848,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. CWM LLC increased its holdings 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 worth $27,000 after purchasing an additional 113 shares during the period. Hohimer Wealth Management LLC increased its stake in PennyMac Financial Services by 5.4% in the first quarter. Hohimer Wealth Management LLC now owns 2,351 shares of the real estate investment trust's stock valued at $235,000 after acquiring an additional 121 shares during the period. Summit Investment Advisors Inc. increased its stake in 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 valued at $286,000 after acquiring an additional 154 shares during the period. Sterling Capital Management LLC increased its stake in PennyMac Financial Services by 601.8% in the fourth 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. Finally, TD Waterhouse Canada Inc. bought a new stake in PennyMac Financial Services in the fourth quarter valued at about $39,000. Institutional investors and hedge funds own 57.87% of the company's stock.

Insider Buying and Selling

In other news, Director Joseph F. Mazzella sold 7,107 shares of the company's stock in a transaction that occurred 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 transaction, the director directly owned 86,050 shares in the company, valued at approximately $9,307,168. This represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Spector sold 5,000 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $100.81, for a total transaction of $504,050.00. Following the transaction, the chief executive officer owned 135,604 shares in the company, valued at $13,670,239.24. The trade was a 3.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,107 shares of company stock worth $1,764,193 over the last quarter. 15.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PFSI. Piper Sandler lowered their target price 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. Wells Fargo & Company lowered their target price 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. Keefe, Bruyette & Woods reduced their price target on shares of 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 reduced their price target on shares of 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. Finally, UBS Group reduced 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 report on Thursday, July 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $118.67.

PennyMac Financial Services Price Performance

NYSE:PFSI opened at $108.67 on Friday. The firm has a market cap of $5.62 billion, a PE ratio of 15.07 and a beta of 1.50. PennyMac Financial Services, Inc. has a 12 month low of $85.74 and a 12 month high of $119.13. 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 company's 50-day moving average price is $98.66 and its two-hundred day moving average price is $99.05.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its quarterly 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 firm 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%. PennyMac Financial Services's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.85 earnings per share. On average, equities analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Wednesday, August 13th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 13th. PennyMac Financial Services's dividend payout ratio is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.