PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Bought by Millennium Management LLC

Millennium Management LLC grew its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 104.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 518,574 shares of the real estate investment trust's stock after acquiring an additional 264,956 shares during the period. Millennium Management LLC owned about 1.01% of PennyMac Financial Services worth $52,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of PFSI. TD Waterhouse Canada Inc. purchased a new position in shares of PennyMac Financial Services during the 4th quarter valued at $39,000. Sterling Capital Management LLC lifted its stake in shares of 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 buying an additional 343 shares in the last quarter. Aquatic Capital Management LLC purchased a new position in shares of PennyMac Financial Services during the 4th quarter valued at $71,000. Parkside Financial Bank & Trust lifted its stake in shares of PennyMac Financial Services by 54.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust's stock valued at $112,000 after buying an additional 389 shares in the last quarter. Finally, KBC Group NV boosted its holdings in shares of PennyMac Financial Services by 15.6% during the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust's stock valued at $158,000 after purchasing an additional 209 shares during the last quarter. Institutional investors own 57.87% of the company's stock.

PennyMac Financial Services Trading Up 0.5%

NYSE PFSI traded up $0.53 on Tuesday, hitting $101.05. 218,437 shares of the stock were exchanged, compared to its average volume of 306,983. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. PennyMac Financial Services, Inc. has a 52-week low of $85.74 and a 52-week high of $119.13. The firm has a market capitalization of $5.22 billion, a P/E ratio of 17.30, a P/E/G ratio of 0.19 and a beta of 1.60. The stock has a fifty day moving average price of $97.81 and a two-hundred day moving average price of $101.55.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share for the quarter, missing analysts' consensus estimates of $2.99 by ($1.57). The firm had revenue of $430.90 million for the quarter, compared to the consensus estimate of $520.42 million. PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. During the same quarter last year, the firm earned $0.74 EPS. Research analysts forecast that PennyMac Financial Services, Inc. will post 13.77 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 23rd. Investors of record on Wednesday, May 14th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, May 14th. This represents a $1.20 annualized dividend and a yield of 1.19%. PennyMac Financial Services's payout ratio is 18.40%.

Insider Activity at PennyMac Financial Services

In other news, Director Joseph F. Mazzella sold 11,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $98.23, for a total transaction of $1,080,530.00. Following the transaction, the director now directly owns 92,863 shares in the company, valued at approximately $9,121,932.49. This trade represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Follette sold 1,983 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total transaction of $198,161.19. Following the transaction, the insider now owns 10,497 shares in the company, valued at approximately $1,048,965.21. This represents a 15.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,464 shares of company stock worth $6,095,727. Insiders own 16.60% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PFSI. Keefe, Bruyette & Woods raised PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price target for the company in a research note on Tuesday, April 8th. UBS Group lowered their target price on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company reduced their price target on shares of PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, Piper Sandler decreased their price target on shares of PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.17.

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.