Renaissance Technologies LLC Takes Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Renaissance Technologies LLC purchased a new stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,800 shares of the real estate investment trust's stock, valued at approximately $1,307,000.

Other large investors have also recently modified their holdings of the company. Barclays PLC grew its holdings in PennyMac Financial Services by 505.4% during the 3rd quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust's stock worth $6,859,000 after acquiring an additional 50,238 shares in the last quarter. Tidal Investments LLC lifted its position in shares of PennyMac Financial Services by 115.3% in the 3rd quarter. Tidal Investments LLC now owns 15,086 shares of the real estate investment trust's stock worth $1,719,000 after purchasing an additional 8,078 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of PennyMac Financial Services by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust's stock valued at $108,809,000 after purchasing an additional 21,751 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in PennyMac Financial Services by 27.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 27,206 shares of the real estate investment trust's stock valued at $2,779,000 after buying an additional 5,833 shares during the period. Finally, Dakota Wealth Management raised its stake in PennyMac Financial Services by 2.6% in the fourth quarter. Dakota Wealth Management now owns 14,578 shares of the real estate investment trust's stock worth $1,489,000 after buying an additional 374 shares in the last quarter. Hedge funds and other institutional investors own 57.87% of the company's stock.

Insiders Place Their Bets

In other news, insider Mark Elbaum sold 410 shares of the company's stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $102.88, for a total value of $42,180.80. Following the sale, the insider now owns 4,207 shares in the company, valued at $432,816.16. This represents a 8.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Spector sold 5,000 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $103.44, for a total value of $517,200.00. Following the sale, the chief executive officer now directly owns 150,604 shares in the company, valued at approximately $15,578,477.76. This trade represents a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,464 shares of company stock valued at $4,540,867. 16.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on PFSI shares. UBS Group dropped their target price on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. 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. Piper Sandler decreased 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 report on Wednesday, April 23rd. Finally, Wells Fargo & Company cut their price objective 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $121.17.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock traded down $0.29 during mid-day trading on Thursday, reaching $97.15. 338,334 shares of the company traded hands, compared to its average volume of 304,829. The firm's fifty day moving average is $98.37 and its two-hundred day moving average is $102.09. The company has a market capitalization of $5.00 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73. PennyMac Financial Services, Inc. has a fifty-two week low of $84.93 and a fifty-two week 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.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.99 by ($1.57). The firm had revenue of $430.90 million during the quarter, compared to analyst estimates 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 period in the previous year, the company earned $0.74 earnings per share. On average, equities research analysts expect that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

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 $0.30 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.20 annualized dividend and a yield of 1.24%. PennyMac Financial Services's dividend payout ratio (DPR) is presently 18.40%.

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.