Nuveen LLC Takes Position in PennyMac Financial Services, Inc. $PFSI

Key Points

• Nuveen LLC has invested approximately $10.55 million in PennyMac Financial Services, acquiring 105,382 shares, which represents about 0.20% of the company.
• Insider transactions included Joseph F. Mazzella selling over 7,000 shares and CEO David Spector selling 5,000 shares, indicating a decrease in their ownership stake.
• PennyMac Financial Services announced its quarterly earnings, reporting an EPS of $1.02, which missed analysts' estimates and showed a revenue of $444.73 million.

Nuveen LLC acquired a new position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 105,382 shares of the real estate investment trust's stock, valued at approximately $10,550,000. Nuveen LLC owned about 0.20% of PennyMac Financial Services as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of PennyMac Financial Services by 12,101.0% during the first quarter. GAMMA Investing LLC now owns 11,713 shares of the real estate investment trust's stock worth $1,173,000 after purchasing an additional 11,617 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of PennyMac Financial Services during the fourth quarter worth $1,307,000. Lightrock Netherlands B.V. boosted its holdings in shares of PennyMac Financial Services by 55.1% during the first quarter. Lightrock Netherlands B.V. now owns 136,055 shares of the real estate investment trust's stock worth $13,643,000 after purchasing an additional 48,312 shares during the last quarter. Picton Mahoney Asset Management boosted its holdings in shares of PennyMac Financial Services by 12,632.9% during the first quarter. Picton Mahoney Asset Management now owns 89,130 shares of the real estate investment trust's stock worth $8,922,000 after purchasing an additional 88,430 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of PennyMac Financial Services during the first quarter worth $695,000. Institutional investors and hedge funds own 57.87% of the company's stock.

PennyMac Financial Services Stock Down 0.1%

PennyMac Financial Services stock traded down $0.0570 during trading on Monday, reaching $109.6630. 238,280 shares of the company's stock were exchanged, compared to its average volume of 402,826. The company has a debt-to-equity ratio of 3.03, a quick ratio of 0.34 and a current ratio of 0.34. The company's 50-day moving average is $100.10 and its two-hundred day moving average is $98.92. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 15.21 and a beta of 1.50. PennyMac Financial Services, Inc. has a 52-week low of $85.74 and a 52-week high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The real estate investment trust reported $1.02 earnings per share 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 analysts' expectations 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 quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.85 earnings per share. On average, analysts predict 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 disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Wednesday, August 13th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, August 13th. PennyMac Financial Services's dividend payout ratio is presently 16.64%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PFSI shares. Barclays decreased their price objective on PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating on the stock in a report on Tuesday, July 8th. UBS Group dropped their price objective on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a report on Thursday, July 24th. Wall Street Zen upgraded PennyMac Financial Services from a "sell" rating to a "hold" rating in a report on Friday. Piper Sandler dropped their price objective on PennyMac Financial Services from $125.00 to $121.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company assumed coverage on PennyMac Financial Services in a report on Monday. They set an "overweight" rating and a $115.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $118.67.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 7,107 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $108.16, for a total value of $768,693.12. Following the completion of the transaction, the director directly owned 86,050 shares of the company's stock, valued at $9,307,168. This represents a 7.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David Spector sold 5,000 shares of the company's stock in a transaction dated Monday, August 18th. The shares were 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 of the company's stock, valued at approximately $13,808,760.92. The trade was a 3.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,107 shares of company stock valued at $2,292,843. 15.80% of the stock is currently owned by corporate insiders.

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.