Charles Schwab Investment Management Inc. Has $50.99 Million Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Charles Schwab Investment Management Inc. lifted its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 7.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 447,351 shares of the real estate investment trust's stock after acquiring an additional 31,035 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.87% of PennyMac Financial Services worth $50,985,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. bought a new position in PennyMac Financial Services in the third quarter valued at $37,000. Blue Trust Inc. raised its stake in shares of PennyMac Financial Services by 1,529.6% during the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust's stock worth $40,000 after purchasing an additional 413 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of PennyMac Financial Services by 29.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 109 shares during the last quarter. KBC Group NV grew its stake 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 in the last quarter. Finally, Aigen Investment Management LP acquired a new position in PennyMac Financial Services during the third quarter worth $280,000. Institutional investors and hedge funds own 57.87% of the company's stock.

Insider Activity

In related news, insider Steven Richard Bailey sold 14,130 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the sale, the insider now directly owns 14,670 shares in the company, valued at $1,714,629.60. This trade represents a 49.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the company's stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 235,997 shares of the company's stock, valued at approximately $26,651,141.21. This trade represents a 4.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,162 shares of company stock worth $7,491,026. Corporate insiders own 16.60% of the company's stock.

Analyst Upgrades and Downgrades

PFSI has been the topic of a number of recent analyst reports. Wedbush reissued an "outperform" rating and set a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Barclays increased their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Wells Fargo & Company lifted their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Finally, Piper Sandler upped their target price 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, PennyMac Financial Services has a consensus rating of "Moderate Buy" and a consensus price target of $115.86.

PennyMac Financial Services Price Performance

Shares of PennyMac Financial Services stock traded up $0.26 on Friday, reaching $107.13. 107,146 shares of the stock were exchanged, compared to its average volume of 274,304. The firm's 50 day moving average is $105.96 and its 200-day moving average is $100.75. The firm has a market cap of $5.49 billion, a PE ratio of 34.01 and a beta of 1.79. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. PennyMac Financial Services, Inc. has a one year low of $77.08 and a one year high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its earnings results 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). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The business had revenue of $411.83 million during the quarter, compared to analyst estimates of $513.12 million. During the same period in the prior year, the business posted $1.77 EPS. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were issued a $0.30 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.12%. PennyMac Financial Services's dividend payout ratio (DPR) is currently 38.10%.

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.