PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 954,713 shares of the real estate investment trust's stock after purchasing an additional 21,751 shares during the quarter. JPMorgan Chase & Co. owned 1.86% of PennyMac Financial Services worth $108,809,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PFSI. KBC Group NV lifted its position 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 valued at $153,000 after purchasing an additional 226 shares during the period. Blue Trust Inc. lifted its holdings in shares of PennyMac Financial Services by 59.5% in the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust's stock valued at $80,000 after buying an additional 262 shares during the period. Quantbot Technologies LP boosted its stake in shares of PennyMac Financial Services by 23.7% in the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust's stock valued at $173,000 after buying an additional 290 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in PennyMac Financial Services during the third quarter worth $37,000. Finally, Arizona State Retirement System grew its holdings in PennyMac Financial Services by 2.9% during the second quarter. Arizona State Retirement System now owns 11,999 shares of the real estate investment trust's stock worth $1,135,000 after acquiring an additional 336 shares during the period. Institutional investors and hedge funds own 57.87% of the company's stock.

PennyMac Financial Services Price Performance

Shares of PFSI traded down $2.30 during mid-day trading on Thursday, reaching $99.84. 547,554 shares of the company's stock were exchanged, compared to its average volume of 257,161. PennyMac Financial Services, Inc. has a 52-week low of $81.93 and a 52-week high of $119.13. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The company has a 50-day simple moving average of $103.46 and a two-hundred day simple moving average of $102.69. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 31.70 and a beta of 1.78.

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). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The company had revenue of $411.83 million for the quarter, compared to analysts' expectations of $513.12 million. During the same period in the previous year, the business posted $1.77 EPS. The business's quarterly revenue was up 2.9% on a year-over-year basis. On average, sell-side analysts predict that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders 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 yield of 1.20%. PennyMac Financial Services's dividend payout ratio (DPR) is 38.10%.

Wall Street Analysts Forecast Growth

PFSI has been the topic of several research analyst reports. Barclays boosted their target price on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Wells Fargo & Company boosted 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. Wedbush reaffirmed an "outperform" rating and issued a $130.00 target price on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Piper Sandler boosted their price target on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods dropped their price objective on PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating for the company in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, PennyMac Financial Services currently has a consensus rating of "Moderate Buy" and an average target price of $122.50.

Insiders Place Their Bets

In related news, CAO Gregory L. Hendry sold 3,032 shares of the company's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total value of $309,536.88. Following the completion of the transaction, the chief accounting officer now directly owns 48,040 shares in the company, valued at approximately $4,904,403.60. This represents a 5.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the firm's stock in a transaction dated Friday, November 15th. The stock was 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 in the company, valued at approximately $22,554,209.94. The trade was a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 152,844 shares of company stock valued at $15,658,591 in the last ninety days. Insiders own 16.60% of the company's stock.

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.