Charles Schwab Investment Management Inc. Has $46.35 Million Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Charles Schwab Investment Management Inc. grew its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 453,810 shares of the real estate investment trust's stock after buying an additional 6,459 shares during the period. Charles Schwab Investment Management Inc. owned 0.89% of PennyMac Financial Services worth $46,352,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust lifted its position in shares of PennyMac Financial Services by 54.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust's stock valued at $112,000 after buying an additional 389 shares during the last quarter. KBC Group NV lifted its position in shares of PennyMac Financial Services by 20.3% in 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 last quarter. Quantbot Technologies LP lifted its holdings in PennyMac Financial Services by 23.7% during the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust's stock worth $173,000 after purchasing an additional 290 shares during the last quarter. Verition Fund Management LLC acquired a new stake in PennyMac Financial Services during the 3rd quarter worth approximately $203,000. Finally, Hohimer Wealth Management LLC acquired a new stake in PennyMac Financial Services during the 3rd quarter worth approximately $236,000. 57.87% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several research firms recently weighed in on PFSI. Piper Sandler dropped their price target on PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Keefe, Bruyette & Woods dropped their price target on PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating for the company in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, PennyMac Financial Services has a consensus rating of "Moderate Buy" and an average price target of $122.17.

Insider Activity

In related news, CEO David Spector sold 61,120 shares of the business's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $101.72, for a total transaction of $6,217,126.40. Following the sale, the chief executive officer now owns 634,612 shares in the company, valued at $64,552,732.64. The trade was a 8.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Daniel Stanley Perotti sold 16,481 shares of the business's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $101.56, for a total value of $1,673,810.36. Following the sale, the chief financial officer now owns 37,501 shares in the company, valued at $3,808,601.56. This represents a 30.53 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 150,697 shares of company stock worth $15,327,924. Insiders own 16.60% of the company's stock.

PennyMac Financial Services Price Performance

PennyMac Financial Services stock traded up $1.06 during mid-day trading on Tuesday, reaching $99.06. 195,250 shares of the company were exchanged, compared to its average volume of 266,275. The company has a fifty day simple moving average of $103.06 and a 200-day simple moving average of $104.94. PennyMac Financial Services, Inc. has a 12 month low of $83.03 and a 12 month 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. The firm has a market cap of $5.09 billion, a PE ratio of 16.96, a PEG ratio of 0.19 and a beta of 1.90.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. As a group, equities research analysts expect that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.21%. PennyMac Financial Services's payout ratio is 20.55%.

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.