Franklin Resources Inc. Purchases 11,074 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Franklin Resources Inc. grew its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 102.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,935 shares of the real estate investment trust's stock after purchasing an additional 11,074 shares during the period. Franklin Resources Inc.'s holdings in PennyMac Financial Services were worth $2,240,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new stake in PennyMac Financial Services during the 4th quarter worth about $38,004,000. Cannon Global Investment Management LLC grew its stake in PennyMac Financial Services by 100.0% during the fourth quarter. Cannon Global Investment Management LLC now owns 4,800 shares of the real estate investment trust's stock valued at $490,000 after acquiring an additional 2,400 shares in the last quarter. Vanguard Group Inc. grew its stake in PennyMac Financial Services by 7.4% during the fourth quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust's stock valued at $294,835,000 after acquiring an additional 199,667 shares in the last quarter. KLP Kapitalforvaltning AS bought a new stake in PennyMac Financial Services during the 4th quarter worth approximately $654,000. Finally, Sei Investments Co. lifted its stake in PennyMac Financial Services by 5.7% in the 4th quarter. Sei Investments Co. now owns 18,379 shares of the real estate investment trust's stock worth $1,877,000 after purchasing an additional 991 shares in the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PFSI. Piper Sandler decreased their price target on shares of PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 target price on the stock in a research note on Tuesday, April 8th. Finally, UBS Group dropped their price target on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, PennyMac Financial Services currently has an average rating of "Moderate Buy" and a consensus target price of $120.86.

PennyMac Financial Services Price Performance

PFSI traded up $1.48 during midday trading on Friday, hitting $97.05. The stock had a trading volume of 345,481 shares, compared to its average volume of 302,775. PennyMac Financial Services, Inc. has a 1 year low of $83.03 and a 1 year high of $119.13. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. The business has a fifty day moving average of $99.36 and a 200 day moving average of $102.77. The company has a market cap of $4.99 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. As a group, equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.24%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services's dividend payout ratio is presently 20.55%.

Insider Buying and Selling

In other PennyMac Financial Services news, insider Mark Elbaum sold 410 shares of the business's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $102.88, for a total value of $42,180.80. Following the transaction, the insider now owns 4,207 shares in the company, valued at approximately $432,816.16. The trade was a 8.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $101.49, for a total transaction of $1,065,645.00. Following the sale, the chief financial officer now owns 214,997 shares of the company's stock, valued at approximately $21,820,045.53. This represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,464 shares of company stock worth $4,540,867 in the last ninety days. 16.60% of the stock is owned by insiders.

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.