Bryce Point Capital LLC Purchases New Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Bryce Point Capital LLC bought a new stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 15,165 shares of the real estate investment trust's stock, valued at approximately $1,549,000.

Several other institutional investors and hedge funds have also modified their holdings of PFSI. Vanguard Group Inc. boosted its position in 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 valued at $294,835,000 after purchasing an additional 199,667 shares during the last quarter. FMR LLC lifted its stake in PennyMac Financial Services by 231.9% in the third quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust's stock valued at $133,003,000 after acquiring an additional 815,389 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of PennyMac Financial Services by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust's stock worth $108,809,000 after purchasing an additional 21,751 shares during the last quarter. State Street Corp raised its holdings in shares of PennyMac Financial Services by 6.0% during the 3rd quarter. State Street Corp now owns 911,741 shares of the real estate investment trust's stock valued at $103,911,000 after purchasing an additional 51,777 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of PennyMac Financial Services by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 658,559 shares of the real estate investment trust's stock valued at $67,283,000 after purchasing an additional 10,795 shares during the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods reduced their price target on PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating for the company in a research report on Tuesday, December 10th. Piper Sandler cut their price objective on PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $122.17.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, insider Derek Stark sold 588 shares of PennyMac Financial Services stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $101.52, for a total transaction of $59,693.76. Following the completion of the transaction, the insider now directly owns 25,621 shares of the company's stock, valued at approximately $2,601,043.92. This trade represents a 2.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction, the chief executive officer now directly owns 150,604 shares of the company's stock, valued at $15,578,477.76. This represents a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,054 shares of company stock worth $4,995,586. Company insiders own 16.60% of the company's stock.

PennyMac Financial Services Stock Performance

Shares of PennyMac Financial Services stock traded down $7.48 during trading on Monday, reaching $96.21. The company's stock had a trading volume of 234,632 shares, compared to its average volume of 351,938. PennyMac Financial Services, Inc. has a one year low of $83.03 and a one year high of $119.13. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73. The business's fifty day moving average price is $102.33 and its 200-day moving average price is $104.09.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. As a group, equities research analysts predict that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.25%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services's payout ratio is presently 20.55%.

About PennyMac Financial Services

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.