Millennium Management LLC Purchases 264,956 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

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

A number of other institutional investors have also added to or reduced their stakes in the business. TD Waterhouse Canada Inc. bought a new stake in shares of PennyMac Financial Services during the 4th quarter worth $39,000. Sterling Capital Management LLC lifted its stake in PennyMac Financial Services by 601.8% during the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 343 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in PennyMac Financial Services during the fourth quarter worth about $71,000. Parkside Financial Bank & Trust boosted its holdings in shares of PennyMac Financial Services by 54.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust's stock worth $112,000 after purchasing an additional 389 shares in the last quarter. Finally, KBC Group NV increased its position 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. 57.87% of the stock is currently owned by institutional investors.

PennyMac Financial Services Trading Down 1.2%

Shares of NYSE PFSI traded down $1.14 during mid-day trading on Thursday, hitting $95.07. The stock had a trading volume of 78,029 shares, compared to its average volume of 307,568. 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 1 year low of $85.74 and a 1 year high of $119.13. The business has a 50 day moving average price of $97.92 and a two-hundred day moving average price of $101.51. The firm has a market cap of $4.91 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 0.19 and a beta of 1.60.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly 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). The firm had revenue of $430.90 million during the quarter, compared to the consensus estimate of $520.42 million. PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. During the same period last year, the business earned $0.74 EPS. On average, equities analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm 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 of this dividend is Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.26%. PennyMac Financial Services's dividend payout ratio is presently 18.40%.

Analyst Ratings Changes

Several brokerages have issued reports on PFSI. UBS Group cut their target price on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods upgraded shares of 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. Wells Fargo & Company reduced their target price on shares of PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, Piper Sandler lowered their price target on shares of PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, PennyMac Financial Services presently has an average rating of "Moderate Buy" and a consensus price target of $121.17.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 10,500 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $99.45, for a total value of $1,044,225.00. Following the completion of the transaction, the chief financial officer now directly owns 234,025 shares in the company, valued at approximately $23,273,786.25. This represents a 4.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Spector sold 5,000 shares of PennyMac Financial Services stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $103.44, for a total transaction of $517,200.00. Following the sale, the chief executive officer now directly owns 150,604 shares in the company, valued at $15,578,477.76. The trade was a 3.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 60,464 shares of company stock valued at $6,095,727 in the last 90 days. Insiders own 16.60% of the company's stock.

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.