Fmr LLC Buys 815,389 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

FMR LLC increased its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 231.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,166,998 shares of the real estate investment trust's stock after purchasing an additional 815,389 shares during the quarter. FMR LLC owned 2.28% of PennyMac Financial Services worth $133,003,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PFSI. Harbor Capital Advisors Inc. acquired a new position in shares of PennyMac Financial Services during the third quarter valued at $37,000. Blue Trust Inc. lifted its holdings in PennyMac Financial Services by 1,529.6% in the second 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 during the period. Hexagon Capital Partners LLC lifted its holdings in PennyMac Financial Services by 29.6% in the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 109 shares during the period. KBC Group NV lifted its holdings in 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 worth $153,000 after purchasing an additional 226 shares during the period. Finally, Aigen Investment Management LP acquired a new stake in PennyMac Financial Services in the third quarter worth about $280,000. 57.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PFSI. Barclays upped their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Piper Sandler upped their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an "overweight" rating in a report on Wednesday, October 23rd. Wells Fargo & Company upped their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Finally, Wedbush reiterated an "outperform" rating and issued a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, PennyMac Financial Services currently has an average rating of "Moderate Buy" and a consensus price target of $115.86.

Insider Activity

In related news, insider Steven Richard Bailey sold 14,130 shares of the business's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $116.88, for a total value of $1,651,514.40. Following the completion of the sale, the insider now owns 14,670 shares of the company's stock, valued at approximately $1,714,629.60. The trade was a 49.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the business's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $100.02, for a total value of $1,050,210.00. Following the completion of the sale, the chief financial officer now directly owns 225,497 shares of the company's stock, valued at approximately $22,554,209.94. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,162 shares of company stock worth $7,491,026 in the last 90 days. Company insiders own 16.60% of the company's stock.

PennyMac Financial Services Trading Down 0.5 %

NYSE PFSI traded down $0.54 on Wednesday, hitting $105.61. 174,201 shares of the company were exchanged, compared to its average volume of 257,152. The company's 50 day moving average price is $105.74 and its 200-day moving average price is $100.98. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market capitalization of $5.41 billion, a P/E ratio of 33.70 and a beta of 1.78. PennyMac Financial Services, Inc. has a twelve month low of $78.71 and a twelve month high of $119.13.

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 (EPS) for the quarter, missing the consensus estimate of $2.92 by ($1.62). The company had revenue of $411.83 million for the quarter, compared to analyst estimates of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. PennyMac Financial Services's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.77 EPS. Analysts predict that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 1.14%. PennyMac Financial Services's payout ratio is presently 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.