MorganRosel Wealth Management LLC Boosts Stake in PennyMac Financial Services, Inc. (NYSE:PFSI)

MorganRosel Wealth Management LLC increased its stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 60.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,728 shares of the real estate investment trust's stock after purchasing an additional 4,416 shares during the quarter. MorganRosel Wealth Management LLC's holdings in PennyMac Financial Services were worth $1,198,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PFSI. Harbor Capital Advisors Inc. bought a new position in PennyMac Financial Services in the 3rd quarter valued at $37,000. Blue Trust Inc. raised its position in shares of PennyMac Financial Services by 59.5% in the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust's stock worth $80,000 after buying an additional 262 shares in the last quarter. KBC Group NV boosted its stake in PennyMac Financial Services by 20.3% during the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust's stock valued at $153,000 after buying an additional 226 shares during the period. Quantbot Technologies LP grew its position in PennyMac Financial Services by 23.7% during the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust's stock worth $173,000 after buying an additional 290 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in PennyMac Financial Services in the 3rd quarter worth about $203,000. 57.87% of the stock is currently owned by institutional investors.

Remove Ads

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods dropped their price target on PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating for the company in a research report on Tuesday, December 10th. Piper Sandler lowered their target price on shares of PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $122.17.

PennyMac Financial Services Price Performance

Shares of PennyMac Financial Services stock traded up $1.52 during trading on Friday, hitting $103.61. 311,583 shares of the stock traded hands, compared to its average volume of 345,664. The firm's fifty day moving average is $103.60 and its 200-day moving average is $104.99. The stock has a market cap of $5.31 billion, a price-to-earnings ratio of 17.74, a PEG ratio of 0.19 and a beta of 1.78. PennyMac Financial Services, Inc. has a 52 week low of $83.03 and a 52 week high of $119.13. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22.

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

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services's dividend payout ratio is presently 20.55%.

Insider Buying and Selling at PennyMac Financial Services

In related news, insider James Follette sold 1,983 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $99.93, for a total transaction of $198,161.19. Following the completion of the sale, the insider now directly owns 10,497 shares in the company, valued at $1,048,965.21. This represents a 15.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $104.95, for a total value of $1,049,500.00. Following the completion of the transaction, the chief executive officer now directly owns 170,604 shares in the company, valued at $17,904,889.80. This trade represents a 5.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 136,795 shares of company stock worth $13,933,450 over the last three months. Company insiders own 16.60% of the company's stock.

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.