Nuveen LLC Purchases Shares of 105,382 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 bought a new stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 105,382 shares of the real estate investment trust's stock, valued at approximately $10,550,000. Nuveen LLC owned approximately 0.20% of PennyMac Financial Services at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. CWM LLC increased its holdings in 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 in the last quarter. Hohimer Wealth Management LLC increased its holdings in PennyMac Financial Services by 5.4% during 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 acquiring an additional 121 shares in the last quarter. Sterling Capital Management LLC increased its holdings in 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 in the last quarter. TD Waterhouse Canada Inc. purchased a new position in PennyMac Financial Services during the 4th quarter valued at about $39,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in PennyMac Financial Services by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,217 shares of the real estate investment trust's stock valued at $1,554,000 after acquiring an additional 606 shares in the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PFSI has been the subject of several recent research reports. Barclays dropped their target price on shares of PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating for the company in a report on Tuesday, July 8th. Wells Fargo & Company initiated coverage on shares of PennyMac Financial Services in a report on Monday. They set an "overweight" rating and a $115.00 price target for the company. Wall Street Zen upgraded shares of PennyMac Financial Services from a "sell" rating to a "hold" rating in a report on Friday, August 22nd. Keefe, Bruyette & Woods lowered their price target on shares of PennyMac Financial Services from $121.00 to $117.00 and set an "outperform" rating for the company in a report on Thursday, July 24th. Finally, Piper Sandler lowered their price target on shares of PennyMac Financial Services from $125.00 to $121.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $118.67.

PennyMac Financial Services Trading Up 0.3%

PFSI stock traded up $0.33 on Thursday, hitting $108.84. 293,322 shares of the company were exchanged, compared to its average volume of 385,803. PennyMac Financial Services, Inc. has a twelve month low of $85.74 and a twelve month high of $119.13. The company has a debt-to-equity ratio of 3.03, a current ratio of 0.34 and a quick ratio of 0.34. The business's fifty day moving average is $100.98 and its two-hundred day moving average is $99.09. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 15.10 and a beta of 1.50.

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

PennyMac Financial Services Announces Dividend

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

Insider Buying and Selling

In other PennyMac Financial Services news, CEO David Spector sold 5,000 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $100.81, for a total transaction of $504,050.00. Following the transaction, the chief executive officer directly owned 135,604 shares of the company's stock, valued at $13,670,239.24. The trade was a 3.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph F. Mazzella sold 7,107 shares of PennyMac Financial Services 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 trade 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 sold 26,857 shares of company stock valued at $2,813,253. Insiders own 15.80% of the company's stock.

PennyMac Financial Services 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.