FORA Capital LLC Buys New Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

FORA Capital LLC purchased a new stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,407 shares of the real estate investment trust's stock, valued at approximately $616,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC lifted its position in PennyMac Financial Services by 231.9% during the third quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust's stock valued at $133,003,000 after purchasing an additional 815,389 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of PennyMac Financial Services during the 3rd quarter valued at approximately $24,644,000. Edgestream Partners L.P. increased its holdings in PennyMac Financial Services by 256.9% in the 2nd quarter. Edgestream Partners L.P. now owns 84,861 shares of the real estate investment trust's stock worth $8,028,000 after acquiring an additional 61,087 shares in the last quarter. American Century Companies Inc. raised its stake in PennyMac Financial Services by 13.2% during the 2nd quarter. American Century Companies Inc. now owns 347,979 shares of the real estate investment trust's stock worth $32,919,000 after acquiring an additional 40,676 shares during the period. Finally, EMG Holdings L.P. lifted its holdings in PennyMac Financial Services by 107.4% during the second quarter. EMG Holdings L.P. now owns 64,451 shares of the real estate investment trust's stock valued at $6,097,000 after purchasing an additional 33,370 shares in the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PennyMac Financial Services

In other news, CFO Daniel Stanley Perotti sold 10,500 shares of the firm's stock in a transaction dated 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 owns 225,497 shares in the company, valued at approximately $22,554,209.94. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Richard Bailey sold 14,130 shares of the company's stock in a transaction dated 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 transaction, the insider now owns 14,670 shares in the company, valued at $1,714,629.60. The trade was a 49.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,162 shares of company stock worth $7,491,026 over the last 90 days. 16.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

PennyMac Financial Services Price Performance

Shares of PFSI traded up $0.26 during midday trading on Friday, hitting $107.13. 107,146 shares of the company traded hands, compared to its average volume of 258,350. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 34.01 and a beta of 1.79. The firm has a 50 day moving average of $106.06 and a 200-day moving average of $100.57. 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 52 week low of $77.08 and a 52 week high of $119.13.

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

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services's payout ratio is 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.