Vanguard Group Inc. grew its position in PennyMac Financial Services, Inc. (NYSE:PFSI – Free Report) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,610,041 shares of the real estate investment trust’s stock after purchasing an additional 19,748 shares during the quarter. Vanguard Group Inc. owned about 5.18% of PennyMac Financial Services worth $230,649,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. USA Financial Formulas acquired a new stake in PennyMac Financial Services in the 4th quarter worth approximately $25,000. Hexagon Capital Partners LLC lifted its stake in shares of PennyMac Financial Services by 128.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 205 shares during the period. Parkside Financial Bank & Trust purchased a new stake in shares of PennyMac Financial Services during the fourth quarter valued at $36,000. TFO Wealth Partners LLC increased its position in shares of PennyMac Financial Services by 16,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $101,000 after acquiring an additional 1,141 shares during the period. Finally, Saxon Interests Inc. purchased a new position in PennyMac Financial Services in the 4th quarter worth $208,000. 57.87% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 11,400 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $92.00, for a total transaction of $1,048,800.00. Following the transaction, the chief financial officer now directly owns 246,497 shares of the company’s stock, valued at $22,677,724. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO David Spector sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $90.56, for a total transaction of $905,600.00. Following the completion of the sale, the chief executive officer now directly owns 230,604 shares in the company, valued at $20,883,498.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel Stanley Perotti sold 11,400 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $92.00, for a total value of $1,048,800.00. Following the completion of the transaction, the chief financial officer now owns 246,497 shares in the company, valued at approximately $22,677,724. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,865 shares of company stock valued at $8,031,769. 16.60% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on PFSI shares. Deutsche Bank Aktiengesellschaft cut their price objective on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Keefe, Bruyette & Woods decreased their price objective on shares of PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Wedbush reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of PennyMac Financial Services in a report on Thursday, April 25th. Barclays boosted their target price on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Finally, StockNews.com raised shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Wednesday, June 19th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, PennyMac Financial Services has an average rating of “Moderate Buy” and a consensus target price of $97.75.
Get Our Latest Analysis on PFSI
PennyMac Financial Services Trading Down 2.5 %
Shares of PennyMac Financial Services stock opened at $92.23 on Tuesday. The firm has a 50-day simple moving average of $91.26 and a two-hundred day simple moving average of $88.97. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.39 and a current ratio of 0.39. PennyMac Financial Services, Inc. has a fifty-two week low of $62.15 and a fifty-two week high of $95.18. The company has a market cap of $4.70 billion, a P/E ratio of 32.02, a price-to-earnings-growth ratio of 0.61 and a beta of 1.72.
PennyMac Financial Services (NYSE:PFSI – Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.14. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. The company had revenue of $305.66 million during the quarter, compared to analysts’ expectations of $422.87 million. As a group, equities analysts predict that PennyMac Financial Services, Inc. will post 10.55 earnings per share for the current fiscal year.
PennyMac Financial Services Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Tuesday, May 14th were paid a $0.20 dividend. The ex-dividend date was Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a yield of 0.87%. PennyMac Financial Services’s dividend payout ratio is currently 27.78%.
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.
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