PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management lowered its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 99.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 700 shares of the real estate investment trust's stock after selling 106,239 shares during the period. Picton Mahoney Asset Management's holdings in PennyMac Financial Services were worth $71,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in 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 worth $103,911,000 after buying an additional 51,777 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in PennyMac Financial Services by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust's stock valued at $108,809,000 after buying an additional 21,751 shares during the last quarter. XTX Topco Ltd purchased a new position in PennyMac Financial Services during the third quarter worth $614,000. Charles Schwab Investment Management Inc. lifted its position in shares of PennyMac Financial Services by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 453,810 shares of the real estate investment trust's stock valued at $46,352,000 after acquiring an additional 6,459 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new stake in shares of PennyMac Financial Services during the 3rd quarter worth about $702,000. Hedge funds and other institutional investors own 57.87% of the company's stock.

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Insider Buying and Selling

In other PennyMac Financial Services news, insider James Follette sold 1,983 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total value of $198,161.19. Following the transaction, the insider now owns 10,497 shares in the company, valued at $1,048,965.21. The trade was a 15.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Daniel Stanley Perotti sold 16,481 shares of the business's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $101.56, for a total transaction of $1,673,810.36. Following the completion of the transaction, the chief financial officer now owns 37,501 shares in the company, valued at $3,808,601.56. This represents a 30.53 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 150,697 shares of company stock valued at $15,327,924. Company insiders own 16.60% of the company's stock.

PennyMac Financial Services Trading Up 2.2 %

Shares of NYSE PFSI traded up $2.17 during trading on Thursday, hitting $101.68. 399,756 shares of the company traded hands, compared to its average volume of 266,407. PennyMac Financial Services, Inc. has a 1 year low of $83.03 and a 1 year high of $119.13. The company has a 50-day moving average price of $103.04 and a 200-day moving average price of $104.84. The firm has a market capitalization of $5.23 billion, a P/E ratio of 17.41, 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 (NYSE:PFSI - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (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%. On average, equities analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.18%. PennyMac Financial Services's dividend payout ratio (DPR) is 20.55%.

Analysts Set New Price Targets

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