Geode Capital Management LLC Acquires 10,795 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Geode Capital Management LLC raised its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 658,559 shares of the real estate investment trust’s stock after acquiring an additional 10,795 shares during the quarter. Geode Capital Management LLC’s holdings in PennyMac Financial Services were worth $67,283,000 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 PFSI. Parkside Financial Bank & Trust boosted its position 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 acquiring an additional 389 shares during the period. KBC Group NV lifted its stake in PennyMac Financial Services by 15.6% in the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 209 shares in the last quarter. Verition Fund Management LLC bought a new position in PennyMac Financial Services in the 3rd quarter valued at $203,000. Cibc World Markets Corp purchased a new position in shares of PennyMac Financial Services during the 4th quarter valued at $255,000. Finally, Precision Wealth Strategies LLC bought a new position in shares of PennyMac Financial Services in the fourth quarter worth $367,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Piper Sandler reduced their target price on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Keefe, Bruyette & Woods raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price objective for the company in a report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.67.

PennyMac Financial Services Trading Up 4.8 %

Shares of PFSI stock opened at $93.53 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22. The firm has a market cap of $4.81 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73. The business has a 50-day moving average price of $100.09 and a two-hundred day moving average price of $103.26. PennyMac Financial Services, Inc. has a 12-month low of $83.03 and a 12-month high of $119.13.

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%. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services’s payout ratio is presently 20.55%.

Insiders Place Their Bets

In related news, CEO David Spector sold 6,839 shares of PennyMac Financial Services stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $102.12, for a total value of $698,398.68. Following the transaction, the chief executive officer now directly owns 635,554 shares of the company’s stock, valued at $64,902,774.48. The trade was a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Elbaum sold 410 shares of the company’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $102.88, for a total transaction of $42,180.80. Following the sale, the insider now owns 4,207 shares of the company’s stock, valued at $432,816.16. This represents a 8.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,464 shares of company stock valued at $4,540,867 over the last three months. Insiders own 16.60% of the company’s stock.

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.