Geode Capital Management LLC Boosts Stock Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Geode Capital Management LLC boosted its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 1.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 658,559 shares of the real estate investment trust's stock after buying an additional 10,795 shares during the period. Geode Capital Management LLC owned approximately 1.28% of PennyMac Financial Services worth $67,283,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Verition Fund Management LLC bought a new position in shares of PennyMac Financial Services in the 3rd quarter valued at about $203,000. HighTower Advisors LLC bought a new position in PennyMac Financial Services during the third quarter worth about $702,000. State Street Corp increased its position in PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust's stock worth $103,911,000 after buying an additional 51,777 shares during the last quarter. Barclays PLC raised its stake in PennyMac Financial Services by 505.4% in the third quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust's stock valued at $6,859,000 after buying an additional 50,238 shares during the period. Finally, Tidal Investments LLC lifted its position in shares of PennyMac Financial Services by 115.3% in the third quarter. Tidal Investments LLC now owns 15,086 shares of the real estate investment trust's stock valued at $1,719,000 after buying an additional 8,078 shares during the last quarter. Institutional investors and hedge funds own 57.87% of the company's stock.

PennyMac Financial Services Trading Up 1.5 %

Shares of NYSE:PFSI traded up $1.48 during trading on Friday, reaching $97.05. The stock had a trading volume of 345,481 shares, compared to its average volume of 302,119. The firm's fifty day moving average is $99.47 and its 200 day moving average is $102.87. PennyMac Financial Services, Inc. has a 52 week low of $83.03 and a 52 week 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 stock has a market cap of $4.99 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 0.19 and a beta of 1.73.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were given a $0.30 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.24%. PennyMac Financial Services's dividend payout ratio is currently 20.55%.

Wall Street Analysts Forecast Growth

PFSI has been the topic of several research reports. Piper Sandler decreased their price objective 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. UBS Group decreased their price objective on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a report on Wednesday. Finally, Keefe, Bruyette & Woods raised PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price objective for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, PennyMac Financial Services presently has a consensus rating of "Moderate Buy" and an average price target of $120.86.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 6,839 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $102.12, for a total transaction of $698,398.68. Following the sale, the chief executive officer now owns 635,554 shares of the company's stock, valued at $64,902,774.48. The trade was a 1.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Elbaum sold 410 shares of the stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $102.88, for a total transaction of $42,180.80. Following the completion of the sale, the insider now directly 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 disclosure for this sale can be found here. Insiders sold 44,464 shares of company stock worth $4,540,867 in the last quarter. 16.60% of the stock is currently owned by company insiders.

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.