South Dakota Investment Council decreased its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 5.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,069 shares of the real estate investment trust's stock after selling 5,698 shares during the quarter. South Dakota Investment Council owned approximately 0.18% of PennyMac Financial Services worth $9,217,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in PFSI. Hohimer Wealth Management LLC grew its stake 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 purchasing an additional 121 shares during the last quarter. CWM LLC increased its position in shares of PennyMac Financial Services by 71.5% in the first 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 in the last quarter. New York State Common Retirement Fund increased its position in shares of PennyMac Financial Services by 1.2% in the first quarter. New York State Common Retirement Fund now owns 71,944 shares of the real estate investment trust's stock valued at $7,202,000 after buying an additional 879 shares in the last quarter. Xponance Inc. purchased a new stake in shares of PennyMac Financial Services in the first quarter valued at approximately $202,000. Finally, Bank of New York Mellon Corp increased its position in shares of PennyMac Financial Services by 45.9% in the first quarter. Bank of New York Mellon Corp now owns 290,235 shares of the real estate investment trust's stock valued at $29,055,000 after buying an additional 91,338 shares in the last quarter. Institutional investors own 57.87% of the company's stock.
PennyMac Financial Services Stock Up 0.8%
NYSE PFSI traded up $0.82 on Tuesday, reaching $102.76. The stock had a trading volume of 133,468 shares, compared to its average volume of 326,937. The business has a 50 day moving average price of $98.13 and a 200 day moving average price of $99.72. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 2.96. 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 $5.31 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 0.21 and a beta of 1.53.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.99 by ($1.57). PennyMac Financial Services had a net margin of 20.27% and a return on equity of 14.78%. The firm had revenue of $430.90 million during the quarter, compared to analyst estimates of $520.42 million. During the same quarter in the previous year, the business posted $0.74 earnings per share. On average, analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.
PennyMac Financial Services Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Wednesday, May 14th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.17%. PennyMac Financial Services's dividend payout ratio (DPR) is currently 18.40%.
Insider Activity
In related news, CFO Daniel Stanley Perotti sold 10,500 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $99.45, for a total transaction of $1,044,225.00. Following the completion of the sale, the chief financial officer directly owned 234,025 shares of the company's stock, valued at $23,273,786.25. This trade represents a 4.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph F. Mazzella sold 11,000 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $98.23, for a total value of $1,080,530.00. Following the sale, the director directly owned 92,863 shares of the company's stock, valued at $9,121,932.49. This represents a 10.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 36,500 shares of company stock worth $3,616,005. Corporate insiders own 15.80% of the company's stock.
Analyst Ratings Changes
Several analysts have issued reports on PFSI shares. Wells Fargo & Company dropped their target price on PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Piper Sandler reduced their price objective on PennyMac Financial Services from $128.00 to $125.00 and set an "overweight" rating for the company in a report on Tuesday, July 1st. UBS Group upped their target price on PennyMac Financial Services from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, July 15th. Keefe, Bruyette & Woods upped their price target on shares of PennyMac Financial Services from $114.00 to $121.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Finally, Barclays reduced their price target on PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating for the company in a report on Tuesday, July 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $121.67.
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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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