PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund grew its position in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 6.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,065 shares of the real estate investment trust's stock after buying an additional 4,077 shares during the quarter. New York State Common Retirement Fund owned 0.14% of PennyMac Financial Services worth $7,259,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its position in PennyMac Financial Services by 231.9% during the 3rd quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust's stock valued at $133,003,000 after buying an additional 815,389 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of PennyMac Financial Services by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust's stock worth $108,809,000 after acquiring an additional 21,751 shares during the last quarter. State Street Corp increased its holdings in shares of PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust's stock valued at $103,911,000 after acquiring an additional 51,777 shares in the last quarter. Geode Capital Management LLC raised its position in shares of PennyMac Financial Services by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust's stock valued at $73,841,000 after purchasing an additional 19,662 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in PennyMac Financial Services by 7.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust's stock worth $50,985,000 after purchasing an additional 31,035 shares in the last quarter. Institutional investors own 57.87% of the company's stock.

Remove Ads

Insider Activity at PennyMac Financial Services

In related news, CFO Daniel Stanley Perotti sold 16,481 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $101.56, for a total value of $1,673,810.36. Following the transaction, the chief financial officer now owns 37,501 shares of the company's stock, valued at $3,808,601.56. This represents a 30.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO David Spector sold 61,120 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $101.72, for a total value of $6,217,126.40. Following the completion of the transaction, the chief executive officer now owns 634,612 shares in the company, valued at approximately $64,552,732.64. The trade was a 8.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,795 shares of company stock worth $13,933,450. 16.60% of the stock is currently owned by company insiders.

PennyMac Financial Services Trading Up 1.5 %

Shares of PFSI stock traded up $1.52 on Friday, hitting $103.61. 311,583 shares of the stock traded hands, compared to its average volume of 345,664. 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 firm's 50-day moving average price is $103.60 and its two-hundred day moving average price is $105.04. PennyMac Financial Services, Inc. has a twelve month low of $83.03 and a twelve month high of $119.13. The stock has a market capitalization of $5.31 billion, a PE ratio of 17.74, a PEG ratio of 0.19 and a beta of 1.78.

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

PennyMac Financial Services Dividend Announcement

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

Analyst Ratings Changes

PFSI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reduced their target price 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. Piper Sandler reduced their price objective on PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, PennyMac Financial Services has a consensus rating of "Moderate Buy" and an average price target of $122.17.

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.