Renaissance Technologies LLC Invests $1.31 Million in PennyMac Financial Services, Inc. (NYSE:PFSI)

Renaissance Technologies LLC acquired a new stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,800 shares of the real estate investment trust's stock, valued at approximately $1,307,000.

A number of other hedge funds have also recently made changes to their positions in the business. Norges Bank purchased a new position in PennyMac Financial Services in the 4th quarter worth approximately $38,004,000. Vanguard Group Inc. boosted its position in shares of PennyMac Financial Services by 7.4% during the fourth quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust's stock worth $294,835,000 after acquiring an additional 199,667 shares during the last quarter. Boston Partners grew its stake in PennyMac Financial Services by 50.1% during the fourth quarter. Boston Partners now owns 497,080 shares of the real estate investment trust's stock valued at $51,313,000 after acquiring an additional 165,997 shares in the last quarter. FMR LLC increased its holdings in PennyMac Financial Services by 11.9% in the 4th quarter. FMR LLC now owns 1,305,851 shares of the real estate investment trust's stock valued at $133,380,000 after acquiring an additional 138,853 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in PennyMac Financial Services by 48.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 320,250 shares of the real estate investment trust's stock worth $32,710,000 after purchasing an additional 104,022 shares in the last quarter. Institutional investors own 57.87% of the company's stock.

Analysts Set New Price Targets

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

PennyMac Financial Services Trading Up 1.1 %

Shares of PFSI traded up $1.07 during midday trading on Friday, hitting $98.08. The stock had a trading volume of 224,639 shares, compared to its average volume of 305,263. The stock's 50 day moving average is $98.23 and its 200 day moving average is $101.87. The firm has a market cap of $5.04 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73. 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, Inc. has a 1 year low of $85.74 and a 1 year high of $119.13.

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). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. The firm had revenue of $430.90 million during the quarter, compared to analysts' expectations of $520.42 million. During the same period last year, the company earned $0.74 earnings per share. As a group, analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed 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. This represents a $1.20 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date is Wednesday, May 14th. PennyMac Financial Services's payout ratio is currently 18.40%.

Insider Buying and Selling at PennyMac Financial Services

In other news, CEO David Spector sold 6,839 shares of PennyMac Financial Services stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $102.12, for a total transaction 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. The trade was a 1.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $99.93, for a total value of $198,161.19. Following the completion of the transaction, the insider now directly owns 10,497 shares in the company, valued at approximately $1,048,965.21. This trade represents a 15.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,464 shares of company stock valued at $4,540,867 in the last quarter. 16.60% of the stock is owned by insiders.

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.