Vanguard Group Inc. Has $294.84 Million Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Vanguard Group Inc. increased its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 7.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,886,580 shares of the real estate investment trust’s stock after buying an additional 199,667 shares during the period. Vanguard Group Inc. owned about 5.63% of PennyMac Financial Services worth $294,835,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PFSI. Parkside Financial Bank & Trust increased its stake in shares of 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 valued at $112,000 after buying an additional 389 shares during the period. KBC Group NV boosted its holdings in PennyMac Financial Services by 15.6% in the fourth quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock valued at $158,000 after acquiring an additional 209 shares during the last quarter. Quantbot Technologies LP increased its position 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 valued at $173,000 after purchasing an additional 290 shares during the period. Verition Fund Management LLC bought a new position in PennyMac Financial Services during the 3rd quarter worth approximately $203,000. Finally, Hohimer Wealth Management LLC acquired a new position in shares of PennyMac Financial Services in the 3rd quarter worth approximately $236,000. 57.87% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PFSI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research note on Tuesday, December 10th. Piper Sandler dropped their price objective on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, PennyMac Financial Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.17.

Insider Buying and Selling at PennyMac Financial Services

In related news, insider James Follette sold 1,983 shares of the company’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $99.93, for a total transaction of $198,161.19. Following the completion of the sale, the insider now owns 10,497 shares in the company, valued at approximately $1,048,965.21. This represents a 15.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $101.49, for a total value of $1,065,645.00. Following the completion of the sale, the chief financial officer now directly owns 214,997 shares of the company’s stock, valued at $21,820,045.53. The trade was a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,054 shares of company stock valued at $4,995,586. Corporate insiders own 16.60% of the company’s stock.

PennyMac Financial Services Price Performance

PFSI stock opened at $103.52 on Friday. 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 company’s 50-day moving average is $102.33 and its 200-day moving average is $104.26. The stock has a market capitalization of $5.32 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. PennyMac Financial Services, Inc. has a 1 year low of $83.03 and a 1 year high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. Equities research analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal 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 issued a dividend of $0.30 per share. The ex-dividend date was Thursday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.16%. PennyMac Financial Services’s payout ratio 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.