Edgestream Partners L.P. Buys 16,495 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Edgestream Partners L.P. lifted its stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 73.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,078 shares of the real estate investment trust's stock after acquiring an additional 16,495 shares during the quarter. Edgestream Partners L.P. owned approximately 0.08% of PennyMac Financial Services worth $3,991,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PFSI. Harbor Capital Advisors Inc. bought a new stake in PennyMac Financial Services in the third quarter worth approximately $37,000. Parkside Financial Bank & Trust increased its position in PennyMac Financial Services by 54.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust's stock worth $112,000 after buying an additional 389 shares during the last quarter. KBC Group NV raised its holdings 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 in the last quarter. Quantbot Technologies LP lifted its position 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 worth $173,000 after buying an additional 290 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in shares of PennyMac Financial Services during the 3rd quarter valued at about $203,000. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other news, insider James Follette sold 1,983 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $99.93, for a total value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Derek Stark sold 2,110 shares of PennyMac Financial Services stock in a transaction on Friday, February 28th. The shares were sold at an average price of $103.07, for a total value of $217,477.70. Following the completion of the transaction, the insider now owns 26,209 shares of the company's stock, valued at approximately $2,701,361.63. The trade was a 7.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 150,697 shares of company stock worth $15,327,924 over the last 90 days. Corporate insiders own 16.60% of the company's stock.

PennyMac Financial Services Stock Performance

NYSE PFSI traded down $0.60 during midday trading on Wednesday, hitting $96.04. The company had a trading volume of 517,459 shares, compared to its average volume of 344,971. The firm has a fifty day simple moving average of $103.40 and a two-hundred day simple moving average of $105.14. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 0.19 and a beta of 1.90. 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, Inc. has a fifty-two week low of $83.03 and a fifty-two week high of $119.13.

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 net margin of 19.54% and a return on equity of 16.61%. Equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently announced 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 of this dividend was Thursday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.25%. PennyMac Financial Services's dividend payout ratio (DPR) is currently 20.55%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PFSI shares. Keefe, Bruyette & Woods decreased 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 report on Tuesday, December 10th. 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 equities research 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $122.17.

PennyMac Financial Services 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.