PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Bought by Sterling Capital Management LLC

Sterling Capital Management LLC lifted its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 601.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 400 shares of the real estate investment trust’s stock after buying an additional 343 shares during the period. Sterling Capital Management LLC’s holdings in PennyMac Financial Services were worth $41,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Barclays PLC grew its position in PennyMac Financial Services by 505.4% in the third quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust’s stock valued at $6,859,000 after acquiring an additional 50,238 shares in the last quarter. Tidal Investments LLC grew its holdings in PennyMac Financial Services by 115.3% during the 3rd quarter. Tidal Investments LLC now owns 15,086 shares of the real estate investment trust’s stock valued at $1,719,000 after purchasing an additional 8,078 shares in the last quarter. JPMorgan Chase & Co. increased its stake in PennyMac Financial Services by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock worth $108,809,000 after buying an additional 21,751 shares during the period. Assenagon Asset Management S.A. lifted its holdings in PennyMac Financial Services by 27.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 27,206 shares of the real estate investment trust’s stock worth $2,779,000 after buying an additional 5,833 shares in the last quarter. Finally, Dakota Wealth Management boosted its position in PennyMac Financial Services by 2.6% in the 4th quarter. Dakota Wealth Management now owns 14,578 shares of the real estate investment trust’s stock valued at $1,489,000 after buying an additional 374 shares during the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI opened at $95.08 on Friday. PennyMac Financial Services, Inc. has a 12-month low of $83.03 and a 12-month high of $119.13. The company has a market cap of $4.89 billion, a PE ratio of 16.28, a P/E/G ratio of 0.19 and a beta of 1.73. The stock has a 50 day simple moving average of $98.86 and a 200-day simple moving average of $102.39. 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 (NYSE:PFSI) last issued its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $2.99 by ($1.57). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. The business had revenue of $430.90 million for the quarter, compared to the consensus estimate of $520.42 million. During the same quarter in the previous year, the business posted $0.74 earnings per share. On average, equities research analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, May 14th. This represents a $1.20 annualized dividend and a yield of 1.26%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 20.55%.

Insider Transactions at PennyMac Financial Services

In other news, insider James Follette sold 1,983 shares of the stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $99.93, for a total transaction of $198,161.19. Following the transaction, the insider now owns 10,497 shares of the company’s stock, valued at approximately $1,048,965.21. This represents a 15.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Elbaum sold 410 shares of the business’s stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $102.88, for a total value of $42,180.80. Following the completion of the sale, the insider now owns 4,207 shares of the company’s stock, valued at approximately $432,816.16. This trade 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. 16.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wells Fargo & Company dropped their target price on PennyMac Financial Services from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 target price on the stock in a research report on Tuesday, April 8th. Piper Sandler decreased their price target on shares of PennyMac Financial Services from $130.00 to $128.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, UBS Group cut their target price on shares of PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $119.86.

PennyMac Financial Services 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.