State Street Corp Buys 51,777 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

State Street Corp boosted its stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 6.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 911,741 shares of the real estate investment trust's stock after acquiring an additional 51,777 shares during the quarter. State Street Corp owned 1.78% of PennyMac Financial Services worth $103,911,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in shares of PennyMac Financial Services by 231.9% in the third quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust's stock valued at $133,003,000 after purchasing an additional 815,389 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in PennyMac Financial Services by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust's stock valued at $50,985,000 after purchasing an additional 31,035 shares in the last quarter. American Century Companies Inc. grew its position in PennyMac Financial Services by 13.2% in the second quarter. American Century Companies Inc. now owns 347,979 shares of the real estate investment trust's stock valued at $32,919,000 after purchasing an additional 40,676 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new stake in PennyMac Financial Services in the 3rd quarter valued at $24,644,000. Finally, Philadelphia Financial Management of San Francisco LLC bought a new stake in PennyMac Financial Services during the 3rd quarter worth about $21,890,000. 57.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently issued reports on PFSI shares. Barclays upped their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods dropped their price objective 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. Piper Sandler raised their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Wells Fargo & Company upped their target price on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Finally, Wedbush reiterated an "outperform" rating and issued a $130.00 target price on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $122.50.

PennyMac Financial Services Stock Performance

Shares of NYSE:PFSI traded up $0.56 on Monday, hitting $105.01. The company had a trading volume of 181,901 shares, compared to its average volume of 255,391. The stock has a 50 day moving average price of $104.71 and a 200 day moving average price of $101.87. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 33.34 and a beta of 1.78. PennyMac Financial Services, Inc. has a 1-year low of $81.93 and a 1-year high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The company had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. During the same period in the prior year, the company earned $1.77 earnings per share. The firm's revenue was up 2.9% compared to the same quarter last year. Analysts expect that PennyMac Financial Services, Inc. will post 11.88 EPS for the current year.

PennyMac Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend was Monday, November 18th. PennyMac Financial Services's dividend payout ratio is 38.10%.

Insiders Place Their Bets

In related news, CAO Gregory L. Hendry sold 3,032 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total value of $309,536.88. Following the transaction, the chief accounting officer now owns 48,040 shares in the company, valued at approximately $4,904,403.60. This trade represents a 5.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the business's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $112.93, for a total value of $1,185,765.00. Following the completion of the transaction, the chief financial officer now directly owns 235,997 shares of the company's stock, valued at approximately $26,651,141.21. This trade represents a 4.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 64,032 shares of company stock worth $6,889,012 in the last 90 days. Company insiders own 16.60% of the company's stock.

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.