Franklin Resources Inc. Sells 254 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Franklin Resources Inc. cut its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,861 shares of the real estate investment trust’s stock after selling 254 shares during the quarter. Franklin Resources Inc.’s holdings in PennyMac Financial Services were worth $1,175,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PFSI. Tidal Investments LLC boosted its position in shares of PennyMac Financial Services by 115.3% during the 3rd quarter. Tidal Investments LLC now owns 15,086 shares of the real estate investment trust’s stock worth $1,719,000 after purchasing an additional 8,078 shares in the last quarter. Hohimer Wealth Management LLC acquired a new position in PennyMac Financial Services during the 3rd quarter worth approximately $236,000. Geode Capital Management LLC boosted its holdings in PennyMac Financial Services by 3.1% in the third quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust’s stock worth $73,841,000 after acquiring an additional 19,662 shares in the last quarter. Barclays PLC grew its stake in PennyMac Financial Services by 505.4% in the third quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust’s stock valued at $6,859,000 after acquiring an additional 50,238 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of PennyMac Financial Services during the third quarter valued at approximately $614,000. 57.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other PennyMac Financial Services news, Director Doug Jones sold 600 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $102.04, for a total value of $61,224.00. Following the sale, the director now directly owns 23,892 shares in the company, valued at $2,437,939.68. The trade was a 2.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $100.02, for a total value of $1,050,210.00. Following the transaction, the chief financial officer now directly owns 225,497 shares in the company, valued at $22,554,209.94. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 152,844 shares of company stock valued at $15,658,591. Company insiders own 16.60% of the company’s stock.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI opened at $102.07 on Friday. The company has a market capitalization of $5.23 billion, a PE ratio of 32.40 and a beta of 1.78. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The stock’s 50 day moving average price is $103.54 and its 200-day moving average price is $102.41. PennyMac Financial Services, Inc. has a twelve month low of $81.93 and a twelve month high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data 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 return on equity of 15.13% and a net margin of 11.45%. The business had revenue of $411.83 million during the quarter, compared to analysts’ expectations of $513.12 million. During the same period in the prior year, the firm posted $1.77 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 EPS for the current year.

PennyMac Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, November 18th. 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 presently 38.10%.

Analysts Set New Price Targets

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

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.