Picton Mahoney Asset Management bought a new position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 47,334 shares of the real estate investment trust's stock, valued at approximately $4,182,000. Picton Mahoney Asset Management owned approximately 0.09% of PennyMac Financial Services as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hexagon Capital Partners LLC increased its position in PennyMac Financial Services by 128.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 205 shares in the last quarter. Parkside Financial Bank & Trust purchased a new position in PennyMac Financial Services in the 4th quarter worth approximately $36,000. Saxon Interests Inc. purchased a new position in PennyMac Financial Services in the 4th quarter worth approximately $208,000. Foster & Motley Inc. purchased a new position in PennyMac Financial Services in the 4th quarter worth approximately $234,000. Finally, Contravisory Investment Management Inc. purchased a new position in PennyMac Financial Services in the 4th quarter worth approximately $252,000. Institutional investors and hedge funds own 57.87% of the company's stock.
Analyst Ratings Changes
A number of research firms have weighed in on PFSI. Wedbush restated an "outperform" rating and issued a $110.00 price target on shares of PennyMac Financial Services in a report on Thursday, April 25th. StockNews.com upgraded PennyMac Financial Services from a "sell" rating to a "hold" rating in a report on Friday, May 3rd. Barclays upped their price target on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an "overweight" rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PennyMac Financial Services from $115.00 to $112.00 and set a "buy" rating for the company in a research report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of PennyMac Financial Services from $105.00 to $100.00 and set an "outperform" rating for the company in a research report on Friday, April 26th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $97.75.
Check Out Our Latest Report on PennyMac Financial Services
PennyMac Financial Services Stock Down 0.4 %
NYSE:PFSI traded down $0.37 on Wednesday, hitting $91.73. 128,263 shares of the company's stock traded hands, compared to its average volume of 243,758. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.33. PennyMac Financial Services, Inc. has a 1 year low of $56.46 and a 1 year high of $94.78. The firm has a 50-day moving average price of $88.14 and a 200-day moving average price of $84.40. The company has a market cap of $4.63 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 0.59 and a beta of 1.68.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.14. The business had revenue of $305.66 million during the quarter, compared to analyst estimates of $422.87 million. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 10.55 EPS for the current fiscal year.
PennyMac Financial Services Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.87%. PennyMac Financial Services's dividend payout ratio is 27.78%.
Insider Buying and Selling
In related news, Director Joseph F. Mazzella sold 16,465 shares of the business's stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $90.73, for a total value of $1,493,869.45. Following the completion of the sale, the director now directly owns 116,546 shares in the company, valued at approximately $10,574,218.58. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Joseph F. Mazzella sold 16,465 shares of the company's stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $90.73, for a total transaction of $1,493,869.45. Following the completion of the transaction, the director now directly owns 116,546 shares in the company, valued at $10,574,218.58. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David Spector sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $87.18, for a total value of $1,307,700.00. Following the transaction, the chief executive officer now owns 270,604 shares of the company's stock, valued at $23,591,256.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,267 shares of company stock worth $9,159,977. 16.60% of the stock is currently owned by insiders.
PennyMac Financial Services Profile
(
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.
Further Reading
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