Price T Rowe Associates Inc. MD Acquires 14,141 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Price T Rowe Associates Inc. MD boosted its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 11.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 134,435 shares of the real estate investment trust's stock after purchasing an additional 14,141 shares during the period. Price T Rowe Associates Inc. MD owned about 0.26% of PennyMac Financial Services worth $13,732,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of PFSI. Barclays PLC increased its stake in shares of 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 worth $6,859,000 after purchasing an additional 50,238 shares in the last quarter. Tidal Investments LLC lifted its position in shares of PennyMac Financial Services by 115.3% during the third quarter. Tidal Investments LLC now owns 15,086 shares of the real estate investment trust's stock worth $1,719,000 after acquiring an additional 8,078 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of PennyMac Financial Services by 27.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 27,206 shares of the real estate investment trust's stock worth $2,779,000 after acquiring an additional 5,833 shares during the period. Dakota Wealth Management raised its stake in shares of PennyMac Financial Services by 2.6% during the 4th quarter. Dakota Wealth Management now owns 14,578 shares of the real estate investment trust's stock valued at $1,489,000 after purchasing an additional 374 shares during the period. Finally, KBC Group NV lifted its holdings in 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 worth $158,000 after purchasing an additional 209 shares in the last quarter. Institutional investors own 57.87% of the company's stock.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 6,839 shares of PennyMac Financial Services stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $102.12, for a total value of $698,398.68. Following the completion of the sale, the chief executive officer now owns 635,554 shares of the company's stock, valued at approximately $64,902,774.48. This trade represents a 1.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Elbaum sold 410 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $102.88, for a total transaction of $42,180.80. Following 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 55,464 shares of company stock worth $5,621,397 over the last quarter. Corporate insiders own 16.60% of the company's stock.

PennyMac Financial Services Trading Up 1.1 %

PennyMac Financial Services stock traded up $1.12 during trading hours on Thursday, reaching $98.80. The company had a trading volume of 17,614 shares, compared to its average volume of 303,933. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of 16.92, a P/E/G ratio of 0.19 and a beta of 1.60. PennyMac Financial Services, Inc. has a 12-month low of $85.74 and a 12-month high of $119.13. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. The company has a 50-day moving average price of $97.89 and a 200 day moving average price of $101.66.

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 for the quarter, missing the consensus estimate of $2.99 by ($1.57). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. The firm had revenue of $430.90 million for the quarter, compared to analysts' expectations of $520.42 million. During the same period in the previous year, the company earned $0.74 EPS. Equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Wednesday, May 14th will be given a $0.30 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.21%. PennyMac Financial Services's dividend payout ratio is currently 18.40%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company decreased their price target on 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. Piper Sandler cut 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 report on Wednesday, April 23rd. 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, April 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average 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.