Charles Schwab Investment Management Inc. Acquires 6,459 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Charles Schwab Investment Management Inc. increased its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 453,810 shares of the real estate investment trust’s stock after acquiring an additional 6,459 shares during the period. Charles Schwab Investment Management Inc. owned about 0.89% of PennyMac Financial Services worth $46,352,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Parkside Financial Bank & Trust increased its position in PennyMac Financial Services by 54.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 389 shares during the period. MorganRosel Wealth Management LLC boosted its position in shares of PennyMac Financial Services by 60.4% in the 4th quarter. MorganRosel Wealth Management LLC now owns 11,728 shares of the real estate investment trust’s stock worth $1,198,000 after purchasing an additional 4,416 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of PennyMac Financial Services by 22.7% during the fourth quarter. Bank of New York Mellon Corp now owns 198,897 shares of the real estate investment trust’s stock worth $20,315,000 after purchasing an additional 36,800 shares during the period. New York State Common Retirement Fund increased its holdings in PennyMac Financial Services by 6.1% in the fourth quarter. New York State Common Retirement Fund now owns 71,065 shares of the real estate investment trust’s stock valued at $7,259,000 after purchasing an additional 4,077 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in PennyMac Financial Services by 4.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 20,017 shares of the real estate investment trust’s stock valued at $2,045,000 after purchasing an additional 766 shares during the last quarter. 57.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other PennyMac Financial Services news, CEO David Spector sold 5,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $99.38, for a total value of $496,900.00. Following the transaction, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at $16,457,725.52. This represents a 2.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider James Follette sold 1,983 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $99.93, for a total value of $198,161.19. Following the transaction, the insider now owns 10,497 shares in the company, valued at approximately $1,048,965.21. This trade represents a 15.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 150,697 shares of company stock worth $15,327,924. 16.60% of the stock is owned by insiders.

PennyMac Financial Services Price Performance

Shares of PFSI opened at $97.11 on Friday. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. The firm has a market capitalization of $4.99 billion, a PE ratio of 16.63, a P/E/G ratio of 0.19 and a beta of 1.90. The stock has a 50 day simple moving average of $103.10 and a 200 day simple moving average of $104.97. PennyMac Financial Services, Inc. has a 52-week low of $83.03 and a 52-week high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share 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%. Sell-side analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 20.55%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PFSI shares. Piper Sandler lowered their price target on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Keefe, Bruyette & Woods decreased their price objective on shares of 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 research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $122.17.

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.