JPMorgan Chase & Co. Has $82.54 Million Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

JPMorgan Chase & Co. lessened its stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 15.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 808,138 shares of the real estate investment trust's stock after selling 146,575 shares during the period. JPMorgan Chase & Co. owned about 1.58% of PennyMac Financial Services worth $82,543,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP increased its holdings in PennyMac Financial Services by 23.7% in the 3rd 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 during the period. BNP Paribas Financial Markets increased its stake in PennyMac Financial Services by 88.7% in the third quarter. BNP Paribas Financial Markets now owns 18,508 shares of the real estate investment trust's stock valued at $2,109,000 after acquiring an additional 8,702 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in PennyMac Financial Services by 0.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 96,324 shares of the real estate investment trust's stock worth $10,978,000 after purchasing an additional 669 shares in the last quarter. Verition Fund Management LLC acquired a new position in PennyMac Financial Services in the third quarter worth about $203,000. Finally, HighTower Advisors LLC bought a new position in PennyMac Financial Services during the third quarter worth about $702,000. 57.87% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling at PennyMac Financial Services

In other news, insider Mark Elbaum sold 410 shares of the firm's stock in a transaction on Friday, April 4th. The stock was sold at an average price of $102.88, for a total value of $42,180.80. Following the transaction, the insider now directly owns 4,207 shares in the company, valued at $432,816.16. This trade represents a 8.88 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David Spector sold 5,000 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $103.44, for a total value of $517,200.00. Following the completion of the sale, the chief executive officer now owns 150,604 shares of the company's stock, valued at $15,578,477.76. This represents a 3.21 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,464 shares of company stock worth $5,037,767. Company insiders own 16.60% of the company's stock.

PennyMac Financial Services Price Performance

PFSI stock traded down $3.87 during midday trading on Tuesday, reaching $92.05. 776,070 shares of the company's stock traded hands, compared to its average volume of 292,563. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 15.76, a PEG ratio of 0.19 and a beta of 1.73. The company has a 50-day simple moving average of $101.17 and a two-hundred day simple moving average of $103.74. PennyMac Financial Services, Inc. has a 1-year low of $83.03 and a 1-year high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing analysts' consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. On average, analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were given a $0.30 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.30%. PennyMac Financial Services's payout ratio is 20.55%.

Analyst Upgrades and Downgrades

PFSI has been the topic of several analyst reports. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price objective on the stock in a research note on Tuesday. Piper Sandler lowered their price target 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 investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $122.67.

About PennyMac Financial Services

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.