Principal Financial Group Inc. Has $7.22 Million Stock Holdings in PennyMac Mortgage Investment Trust (NYSE:PMT)

Principal Financial Group Inc. increased its position in PennyMac Mortgage Investment Trust (NYSE:PMT - Free Report) by 18.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 506,349 shares of the real estate investment trust's stock after buying an additional 77,955 shares during the period. Principal Financial Group Inc. owned 0.58% of PennyMac Mortgage Investment Trust worth $7,221,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in PMT. ProShare Advisors LLC boosted its position in shares of PennyMac Mortgage Investment Trust by 7.4% in the first quarter. ProShare Advisors LLC now owns 17,524 shares of the real estate investment trust's stock valued at $257,000 after acquiring an additional 1,207 shares during the period. State Board of Administration of Florida Retirement System boosted its position in shares of PennyMac Mortgage Investment Trust by 53.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 38,766 shares of the real estate investment trust's stock valued at $569,000 after acquiring an additional 13,530 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new stake in shares of PennyMac Mortgage Investment Trust in the first quarter valued at approximately $157,000. O Shaughnessy Asset Management LLC boosted its position in shares of PennyMac Mortgage Investment Trust by 173.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 155,309 shares of the real estate investment trust's stock valued at $2,280,000 after acquiring an additional 98,500 shares during the period. Finally, EntryPoint Capital LLC raised its stake in shares of PennyMac Mortgage Investment Trust by 251.8% in the first quarter. EntryPoint Capital LLC now owns 7,007 shares of the real estate investment trust's stock valued at $103,000 after purchasing an additional 5,015 shares in the last quarter. Institutional investors and hedge funds own 67.38% of the company's stock.

Insiders Place Their Bets

In other news, Director Doug Jones sold 37,010 shares of PennyMac Mortgage Investment Trust stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $14.01, for a total transaction of $518,510.10. Following the transaction, the director now owns 49,114 shares in the company, valued at $688,087.14. The trade was a 42.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PMT shares. Wedbush restated a "neutral" rating and issued a $15.00 target price on shares of PennyMac Mortgage Investment Trust in a research note on Thursday, October 24th. Piper Sandler cut their target price on PennyMac Mortgage Investment Trust from $15.00 to $14.50 and set a "neutral" rating for the company in a research note on Wednesday, July 24th. Keefe, Bruyette & Woods dropped their price objective on PennyMac Mortgage Investment Trust from $15.50 to $15.00 and set an "outperform" rating for the company in a research note on Thursday, July 25th. Finally, B. Riley reiterated a "buy" rating and set a $16.00 price objective on shares of PennyMac Mortgage Investment Trust in a research note on Wednesday, July 24th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, PennyMac Mortgage Investment Trust presently has an average rating of "Hold" and an average price target of $14.93.

PennyMac Mortgage Investment Trust Trading Down 0.5 %

PennyMac Mortgage Investment Trust stock traded down $0.07 during mid-day trading on Wednesday, hitting $13.13. The stock had a trading volume of 211,800 shares, compared to its average volume of 734,688. The stock has a 50-day simple moving average of $13.85 and a two-hundred day simple moving average of $13.91. The stock has a market capitalization of $1.14 billion, a PE ratio of 9.71 and a beta of 1.51. PennyMac Mortgage Investment Trust has a 12 month low of $12.81 and a 12 month high of $15.89. The company has a current ratio of 0.41, a quick ratio of 0.41 and a debt-to-equity ratio of 1.56.

PennyMac Mortgage Investment Trust (NYSE:PMT - Get Free Report) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). PennyMac Mortgage Investment Trust had a net margin of 53.81% and a return on equity of 11.90%. The firm had revenue of $80.86 million during the quarter, compared to the consensus estimate of $93.75 million. During the same quarter in the prior year, the business earned $0.51 EPS. As a group, sell-side analysts forecast that PennyMac Mortgage Investment Trust will post 1.29 EPS for the current year.

PennyMac Mortgage Investment Trust Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 12.19%. The ex-dividend date of this dividend was Friday, October 11th. PennyMac Mortgage Investment Trust's dividend payout ratio (DPR) is currently 117.65%.

PennyMac Mortgage Investment Trust Company Profile

PennyMac Mortgage Investment Trust, through its subsidiary, primarily invests in mortgage-related assets in the United States. The company operates through: Credit Sensitive Strategies, Interest Rate Sensitive Strategies, Correspondent Production segments. Its Credit Sensitive Strategies segment invests in credit risk transfer (CRT) agreements, CRT securities, subordinate mortgage-backed securities (MBS), distressed loans, and real estate.