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

Principal Financial Group Inc. decreased its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 16.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,532 shares of the real estate investment trust’s stock after selling 22,046 shares during the period. Principal Financial Group Inc. owned 0.22% of PennyMac Financial Services worth $11,698,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in shares of PennyMac Financial Services during the third quarter worth $37,000. Blue Trust Inc. increased its position 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 PennyMac Financial Services by 20.3% during the 3rd 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 in the last quarter. Quantbot Technologies LP raised its stake in 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 during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in PennyMac Financial Services in the third quarter worth about $203,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Financial Services Stock Performance

PFSI opened at $102.02 on Friday. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. PennyMac Financial Services, Inc. has a 12-month low of $83.03 and a 12-month high of $119.13. The firm has a 50 day moving average of $103.56 and a two-hundred day moving average of $104.93. The firm has a market capitalization of $5.23 billion, a PE ratio of 17.47, a P/E/G ratio of 0.19 and a beta of 1.78.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. On average, analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were issued a $0.30 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.18%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 20.55%.

Insider Transactions at PennyMac Financial Services

In related news, CEO David Spector sold 10,000 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $104.95, for a total transaction of $1,049,500.00. Following the sale, the chief executive officer now directly owns 170,604 shares of the company’s stock, valued at approximately $17,904,889.80. This represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider James Follette sold 1,983 shares of PennyMac Financial Services stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total transaction of $198,161.19. Following the completion of the transaction, the insider now directly owns 10,497 shares of the company’s stock, valued at $1,048,965.21. The trade was a 15.89 % decrease in their position. 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 quarter. 16.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PFSI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods cut their price target on shares of 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 cut their target price on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.17.

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.