Massachusetts Financial Services Co. MA Acquires 104,022 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Massachusetts Financial Services Co. MA boosted its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 48.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 320,250 shares of the real estate investment trust's stock after acquiring an additional 104,022 shares during the period. Massachusetts Financial Services Co. MA owned 0.62% of PennyMac Financial Services worth $32,710,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in PennyMac Financial Services by 1.7% during 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. Franklin Resources Inc. grew its position in shares of PennyMac Financial Services by 102.0% during the fourth quarter. Franklin Resources Inc. now owns 21,935 shares of the real estate investment trust's stock worth $2,240,000 after purchasing an additional 11,074 shares in the last quarter. Norges Bank purchased a new stake in shares of PennyMac Financial Services during the fourth quarter worth about $38,004,000. Cannon Global Investment Management LLC raised its stake in PennyMac Financial Services by 100.0% during the 4th quarter. Cannon Global Investment Management LLC now owns 4,800 shares of the real estate investment trust's stock valued at $490,000 after purchasing an additional 2,400 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in PennyMac Financial Services by 7.4% in the 4th quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust's stock worth $294,835,000 after purchasing an additional 199,667 shares in the last quarter. Hedge funds and other institutional investors own 57.87% of the company's stock.

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PennyMac Financial Services Price Performance

Shares of PFSI traded up $4.25 during mid-day trading on Friday, hitting $93.53. 730,764 shares of the stock were exchanged, compared to its average volume of 298,337. The firm has a 50-day moving average of $100.09 and a two-hundred day moving average of $103.26. PennyMac Financial Services, Inc. has a 52-week low of $83.03 and a 52-week high of $119.13. 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 has a market cap of $4.81 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) 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, equities analysts predict that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services's payout ratio is 20.55%.

Insider Buying and Selling

In related 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 completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Follette sold 1,983 shares of PennyMac Financial Services stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $99.93, for a total transaction of $198,161.19. Following the transaction, the insider now directly owns 10,497 shares of the company's stock, valued at $1,048,965.21. The trade was a 15.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,464 shares of company stock worth $4,540,867. Corporate insiders own 16.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PFSI shares. Piper Sandler reduced their price objective on shares of 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. Keefe, Bruyette & Woods raised 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. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.