Federated Hermes Inc. Has $1.20 Million Stock Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Federated Hermes Inc. decreased its position in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 57.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,792 shares of the real estate investment trust's stock after selling 15,995 shares during the quarter. Federated Hermes Inc.'s holdings in PennyMac Financial Services were worth $1,204,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Cullen Capital Management LLC lifted its position in shares of PennyMac Financial Services by 19.7% during the 4th quarter. Cullen Capital Management LLC now owns 8,049 shares of the real estate investment trust's stock worth $822,000 after purchasing an additional 1,326 shares during the last quarter. Bryce Point Capital LLC acquired a new position in shares of PennyMac Financial Services during the fourth quarter worth approximately $1,549,000. Massachusetts Financial Services Co. MA boosted its position in shares of PennyMac Financial Services by 48.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 320,250 shares of the real estate investment trust's stock valued at $32,710,000 after acquiring an additional 104,022 shares during the period. Geode Capital Management LLC boosted its position in shares of PennyMac Financial Services by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 658,559 shares of the real estate investment trust's stock valued at $67,283,000 after acquiring an additional 10,795 shares during the period. Finally, Franklin Resources Inc. grew its stake in shares of PennyMac Financial Services by 102.0% in the fourth quarter. Franklin Resources Inc. now owns 21,935 shares of the real estate investment trust's stock worth $2,240,000 after acquiring an additional 11,074 shares during the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PennyMac Financial Services news, insider James Follette sold 1,983 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total transaction of $198,161.19. Following the sale, the insider now directly owns 10,497 shares of the company's stock, valued at approximately $1,048,965.21. This represents a 15.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $101.49, for a total transaction of $1,065,645.00. Following the completion of the transaction, the chief financial officer now owns 214,997 shares of the company's stock, valued at $21,820,045.53. This trade represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,464 shares of company stock worth $4,540,867 over the last three months. 16.60% of the stock is currently owned by corporate insiders.

PennyMac Financial Services Price Performance

Shares of NYSE:PFSI traded up $1.48 during midday trading on Friday, reaching $97.05. 345,481 shares of the company's stock were exchanged, compared to its average volume of 302,775. 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 company's 50 day simple moving average is $99.36 and its two-hundred day simple moving average is $102.77. PennyMac Financial Services, Inc. has a 12 month low of $83.03 and a 12 month high of $119.13. The firm has a market capitalization of $4.99 billion, a PE ratio of 16.62, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing analysts' consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. 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 business also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services's dividend payout ratio (DPR) is 20.55%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PFSI shares. Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 target price for the company in a research note on Tuesday, April 8th. UBS Group cut their price objective on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a research report on Wednesday. Finally, Piper Sandler decreased their target price on PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $120.86.

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.