Precision Wealth Strategies LLC Takes $367,000 Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Precision Wealth Strategies LLC purchased a new stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 3,590 shares of the real estate investment trust's stock, valued at approximately $367,000.

Several other hedge funds have also added to or reduced their stakes in PFSI. Sei Investments Co. grew its stake in PennyMac Financial Services by 43.6% in the second quarter. Sei Investments Co. now owns 12,740 shares of the real estate investment trust's stock valued at $1,205,000 after purchasing an additional 3,870 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in PennyMac Financial Services by 6.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,449 shares of the real estate investment trust's stock valued at $1,745,000 after acquiring an additional 1,166 shares in the last quarter. Algert Global LLC acquired a new position in shares of PennyMac Financial Services during the 2nd quarter worth $408,000. Creative Planning raised its holdings in shares of PennyMac Financial Services by 59.9% during the 2nd quarter. Creative Planning now owns 4,977 shares of the real estate investment trust's stock worth $471,000 after buying an additional 1,865 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of PennyMac Financial Services by 291.8% in the 3rd quarter. SG Americas Securities LLC now owns 11,911 shares of the real estate investment trust's stock valued at $1,357,000 after buying an additional 8,871 shares during the last quarter. Institutional investors own 57.87% of the company's stock.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock traded up $1.32 during trading on Wednesday, reaching $106.13. The company had a trading volume of 231,517 shares, compared to its average volume of 360,045. PennyMac Financial Services, Inc. has a 52 week low of $83.03 and a 52 week high of $119.13. The firm's 50-day simple moving average is $104.51 and its 200 day simple moving average is $104.46. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 0.20 and a beta of 1.78. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75.

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 analysts' consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.80%. Sell-side analysts forecast that PennyMac Financial Services, Inc. will post 14.02 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, February 23rd. Investors of record on Thursday, February 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, February 13th. PennyMac Financial Services's dividend payout ratio (DPR) is 20.55%.

Analysts Set New Price Targets

A number of equities research analysts have commented on PFSI shares. Piper Sandler reduced 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. Wedbush restated an "outperform" rating and set a $130.00 target price on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Wells Fargo & Company upped their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods dropped their price target on PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating on the stock in a research note on Tuesday, December 10th. Finally, Barclays upped their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. 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 company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $122.17.

Insider Transactions at PennyMac Financial Services

In related news, CAO Gregory L. Hendry sold 3,032 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total value of $309,536.88. Following the sale, the chief accounting officer now owns 48,040 shares of the company's stock, valued at $4,904,403.60. This trade represents a 5.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Spector sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $105.04, for a total transaction of $1,050,400.00. Following the sale, the chief executive officer now owns 180,604 shares in the company, valued at $18,970,644.16. This represents a 5.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,844 shares of company stock valued at $15,079,791. Corporate 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.