Vanguard Group Inc. Acquires 199,667 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Vanguard Group Inc. grew its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 7.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,886,580 shares of the real estate investment trust's stock after purchasing an additional 199,667 shares during the period. Vanguard Group Inc. owned approximately 5.63% of PennyMac Financial Services worth $294,835,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP raised its stake in PennyMac Financial Services by 23.7% during the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust's stock worth $173,000 after buying an additional 290 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of PennyMac Financial Services by 88.7% during the third quarter. BNP Paribas Financial Markets now owns 18,508 shares of the real estate investment trust's stock valued at $2,109,000 after acquiring an additional 8,702 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of PennyMac Financial Services by 0.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 96,324 shares of the real estate investment trust's stock worth $10,978,000 after purchasing an additional 669 shares during the period. Verition Fund Management LLC bought a new position in shares of PennyMac Financial Services in the 3rd quarter worth $203,000. Finally, HighTower Advisors LLC acquired a new stake in PennyMac Financial Services in the 3rd quarter valued at $702,000. Institutional investors own 57.87% of the company's stock.

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Insider Buying and Selling at PennyMac Financial Services

In other news, CEO David Spector sold 6,839 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $102.12, for a total transaction of $698,398.68. Following the completion of the sale, the chief executive officer now owns 635,554 shares in the company, valued at $64,902,774.48. This trade represents a 1.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark Elbaum sold 410 shares of the company's stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $102.88, for a total value of $42,180.80. Following the completion of the transaction, the insider now owns 4,207 shares in the company, valued at approximately $432,816.16. The trade was a 8.88 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,464 shares of company stock worth $4,540,867 in the last quarter. 16.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PFSI shares. Piper Sandler lowered their price objective on shares of PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 target price on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat.com, PennyMac Financial Services has a consensus rating of "Moderate Buy" and a consensus price target of $122.67.

PennyMac Financial Services Stock Up 2.3 %

Shares of PFSI stock traded up $2.13 on Wednesday, hitting $94.54. The stock had a trading volume of 877,605 shares, compared to its average volume of 295,195. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. The business has a 50 day moving average of $100.56 and a 200 day moving average of $103.55. PennyMac Financial Services, Inc. has a 12-month low of $83.03 and a 12-month high of $119.13. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 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%. As a group, analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were given a $0.30 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.27%. PennyMac Financial Services's dividend payout ratio is currently 20.55%.

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.