Fmr LLC Has $133.38 Million Stake in PennyMac Financial Services, Inc. (NYSE:PFSI)

Fmr LLC grew its position in PennyMac Financial Services, Inc. (NYSE:PFSI) by 11.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,305,851 shares of the real estate investment trust’s stock after purchasing an additional 138,853 shares during the quarter. Fmr LLC’s holdings in PennyMac Financial Services were worth $133,380,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PFSI. Parkside Financial Bank & Trust raised its position in PennyMac Financial Services by 54.7% during 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 purchasing an additional 389 shares in the last quarter. KBC Group NV raised its holdings in shares of PennyMac Financial Services by 15.6% during the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 209 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of PennyMac Financial Services during the 3rd quarter worth $203,000. Cibc World Markets Corp bought a new stake in shares of PennyMac Financial Services during the 4th quarter worth $255,000. Finally, Precision Wealth Strategies LLC acquired a new stake in PennyMac Financial Services in the fourth quarter valued at about $367,000. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock opened at $93.53 on Monday. The business has a 50 day moving average of $100.09 and a 200-day moving average of $103.20. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. PennyMac Financial Services, Inc. has a 1 year low of $83.03 and a 1 year high of $119.13. The company has a market capitalization of $4.81 billion, a P/E ratio of 16.02, a P/E/G ratio of 0.19 and a beta of 1.73.

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 (EPS) 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%. On average, equities research analysts predict that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The business also recently announced 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. This represents a $1.20 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services’s payout ratio is presently 20.55%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Keefe, Bruyette & Woods raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 target price for the company in a research note on Tuesday, April 8th. Piper Sandler lowered their price objective on shares of 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. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.67.

Insiders Place Their Bets

In other news, CEO David Spector sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $101.28, for a total value of $506,400.00. Following the transaction, the chief executive officer now owns 155,604 shares in the company, valued at approximately $15,759,573.12. The trade was a 3.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider James Follette sold 1,983 shares of the company’s 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 sale, the insider now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 44,464 shares of company stock valued at $4,540,867. 16.60% of the stock is currently owned by company insiders.

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.