Principal Financial Group Inc. Sells 22,046 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Principal Financial Group Inc. cut its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 16.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 114,532 shares of the real estate investment trust's stock after selling 22,046 shares during the quarter. Principal Financial Group Inc. owned about 0.22% of PennyMac Financial Services worth $11,698,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in shares of PennyMac Financial Services in the 3rd quarter worth approximately $37,000. Blue Trust Inc. boosted its holdings in PennyMac Financial Services by 59.5% during the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust's stock worth $80,000 after buying an additional 262 shares in the last quarter. KBC Group NV grew its position in PennyMac Financial Services by 20.3% in the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust's stock worth $153,000 after buying an additional 226 shares during the last quarter. Quantbot Technologies LP increased its holdings 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 valued at $173,000 after buying an additional 290 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of PennyMac Financial Services during the 3rd quarter valued at $203,000. 57.87% of the stock is owned by institutional investors and hedge funds.

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PennyMac Financial Services Stock Down 0.1 %

Shares of PFSI stock traded down $0.08 on Monday, reaching $103.57. 125,418 shares of the company's stock traded hands, compared to its average volume of 339,447. The company has a market capitalization of $5.33 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 0.19 and a beta of 1.78. PennyMac Financial Services, Inc. has a 12-month low of $83.03 and a 12-month high of $119.13. 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 business's 50 day moving average price is $103.60 and its two-hundred day moving average price is $105.08.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share 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 16.61%. On average, equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services's dividend payout ratio is currently 20.55%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Keefe, Bruyette & Woods decreased their target price on PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating on the stock in a report on Tuesday, December 10th. Piper Sandler dropped their price target on PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $122.17.

Insider Buying and Selling at PennyMac Financial Services

In related news, Director Doug Jones sold 7,882 shares of PennyMac Financial Services stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $103.16, for a total value of $813,107.12. Following the completion of the sale, the director now owns 450,000 shares of the company's stock, valued at approximately $46,422,000. The trade was a 1.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Spector sold 5,000 shares of the company's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $99.38, for a total transaction of $496,900.00. Following the completion of the sale, the chief executive officer now owns 165,604 shares of the company's stock, valued at $16,457,725.52. This represents a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 136,795 shares of company stock worth $13,933,450 over the last 90 days. 16.60% of the stock is currently owned by corporate insiders.

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.