Barclays PLC Raises Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Barclays PLC raised its position in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 505.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,179 shares of the real estate investment trust's stock after acquiring an additional 50,238 shares during the quarter. Barclays PLC owned approximately 0.12% of PennyMac Financial Services worth $6,859,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PFSI. Harbor Capital Advisors Inc. purchased a new position in PennyMac Financial Services during the 3rd quarter valued at about $37,000. Blue Trust Inc. grew its position in shares of PennyMac Financial Services by 1,529.6% in the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust's stock worth $40,000 after buying an additional 413 shares during the last quarter. KBC Group NV increased its stake in shares of PennyMac Financial Services by 20.3% during the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust's stock valued at $153,000 after buying an additional 226 shares during the period. Quantbot Technologies LP raised its holdings in shares of PennyMac Financial Services by 23.7% during the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust's stock valued at $173,000 after acquiring an additional 290 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in PennyMac Financial Services in the third quarter worth $203,000. 57.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PFSI. Wells Fargo & Company boosted their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Wedbush reissued an "outperform" rating and issued a $130.00 price target on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods cut their price objective on PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating on the stock in a research report on Tuesday, December 10th. Barclays increased their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Finally, Piper Sandler lifted their price target on PennyMac Financial Services from $125.00 to $132.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. 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, PennyMac Financial Services presently has a consensus rating of "Moderate Buy" and an average target price of $122.50.

Insider Buying and Selling

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $104.95, for a total value of $1,049,500.00. Following the completion of the transaction, the chief executive officer now owns 170,604 shares of the company's stock, valued at approximately $17,904,889.80. The trade was a 5.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the company's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $112.93, for a total transaction of $1,185,765.00. Following the transaction, the chief financial officer now owns 235,997 shares in the company, valued at $26,651,141.21. This represents a 4.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 54,032 shares of company stock worth $5,721,112 in the last quarter. Corporate insiders own 16.60% of the company's stock.

PennyMac Financial Services Stock Up 0.5 %

Shares of NYSE PFSI traded up $0.50 on Thursday, reaching $100.10. 447,984 shares of the company's stock traded hands, compared to its average volume of 256,659. The business's 50 day simple moving average is $104.51 and its two-hundred day simple moving average is $101.94. PennyMac Financial Services, Inc. has a 12 month low of $81.93 and a 12 month high of $119.13. The company has a market cap of $5.13 billion, a price-to-earnings ratio of 31.78 and a beta of 1.78. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $2.92 by ($1.62). The company had revenue of $411.83 million for the quarter, compared to the consensus estimate of $513.12 million. PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. During the same period last year, the business earned $1.77 EPS. The firm's quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts forecast that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services's dividend payout ratio is presently 38.10%.

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.