PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSIFree Report) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 178,883 shares of the real estate investment trust’s stock after buying an additional 760 shares during the period. Ameriprise Financial Inc.’s holdings in PennyMac Financial Services were worth $18,271,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. TD Waterhouse Canada Inc. bought a new stake in shares of PennyMac Financial Services in the fourth quarter worth $39,000. Sterling Capital Management LLC increased its stake in PennyMac Financial Services by 601.8% during the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 343 shares during the last quarter. Aquatic Capital Management LLC bought a new stake in PennyMac Financial Services during the fourth quarter valued at $71,000. Parkside Financial Bank & Trust increased its stake 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 during the last quarter. Finally, KBC Group NV increased its stake in PennyMac Financial Services by 15.6% during the fourth quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock valued at $158,000 after purchasing an additional 209 shares during the last quarter. 57.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Joseph F. Mazzella sold 11,000 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $98.23, for a total value of $1,080,530.00. Following the completion of the sale, the director now owns 92,863 shares of the company’s stock, valued at $9,121,932.49. This represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Spector sold 6,839 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $102.12, for a total transaction of $698,398.68. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders sold 44,964 shares of company stock valued at $4,555,752 over the last 90 days. 16.60% of the stock is currently owned by company insiders.

PennyMac Financial Services Stock Up 2.0%

PennyMac Financial Services stock opened at $100.71 on Friday. The company has a 50-day simple moving average of $97.62 and a 200-day simple moving average of $101.53. The firm has a market capitalization of $5.20 billion, a P/E ratio of 17.24, a P/E/G ratio of 0.19 and a beta of 1.60. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. PennyMac Financial Services, Inc. has a one year low of $85.74 and a one year high of $119.13.

PennyMac Financial Services (NYSE:PFSIGet Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 EPS for the quarter, missing the consensus estimate of $2.99 by ($1.57). The firm had revenue of $430.90 million for the quarter, compared to the consensus estimate of $520.42 million. PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. During the same quarter in the prior year, the company posted $0.74 EPS. As a group, equities analysts expect 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 disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Wednesday, May 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Wednesday, May 14th. PennyMac Financial Services’s payout ratio is currently 18.40%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. UBS Group lowered their target price on shares of PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Wednesday, April 16th. Wells Fargo & Company lowered their target price on shares of PennyMac Financial Services from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Piper Sandler lowered their target price on shares of PennyMac Financial Services from $130.00 to $128.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods upgraded shares of 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $121.17.

Check Out Our Latest Stock Report on PFSI

PennyMac Financial Services Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PennyMac Financial Services (NYSE:PFSI)

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