SG Americas Securities LLC Sells 8,642 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

SG Americas Securities LLC decreased its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 72.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,269 shares of the real estate investment trust’s stock after selling 8,642 shares during the quarter. SG Americas Securities LLC’s holdings in PennyMac Financial Services were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Harbor Capital Advisors Inc. bought a new stake in shares of PennyMac Financial Services during the 3rd quarter valued at $37,000. Blue Trust Inc. grew its holdings in PennyMac Financial Services by 59.5% during the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 262 shares in the last quarter. KBC Group NV increased its position in shares of PennyMac Financial Services by 20.3% during the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 226 shares during the period. Quantbot Technologies LP lifted 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 worth $173,000 after buying an additional 290 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of PennyMac Financial Services in the third quarter valued at approximately $203,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Insider Activity at PennyMac Financial Services

In related news, 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 transaction of $1,050,210.00. Following the completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $105.04, for a total transaction of $1,050,400.00. Following the completion of the sale, the chief executive officer now directly owns 180,604 shares in the company, valued at approximately $18,970,644.16. This trade represents a 5.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,844 shares of company stock valued at $15,079,791. Insiders own 16.60% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PFSI. Barclays increased their target price on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods lowered 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 report on Tuesday, December 10th. 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. Piper Sandler lowered their price target on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Finally, 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 report on Thursday, October 24th. 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $122.17.

PennyMac Financial Services Trading Up 3.3 %

Shares of PFSI stock opened at $104.96 on Wednesday. The business has a 50-day moving average price of $104.51 and a two-hundred day moving average price of $104.46. PennyMac Financial Services, Inc. has a 12-month low of $83.03 and a 12-month high of $119.13. 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 firm has a market cap of $5.38 billion, a P/E ratio of 17.97, a price-to-earnings-growth ratio of 0.20 and a beta of 1.78.

PennyMac Financial Services (NYSE:PFSI) last released 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 return on equity of 16.80% and a net margin of 19.54%. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 14.02 EPS 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. Stockholders of record on Thursday, February 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.14%. PennyMac Financial Services’s dividend payout ratio (DPR) is 20.55%.

PennyMac Financial Services Company 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.