Quadrature Capital Ltd acquired a new position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,938 shares of the real estate investment trust's stock, valued at approximately $967,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. UBS Group AG grew its holdings in shares of PennyMac Financial Services by 40.6% during the fourth quarter. UBS Group AG now owns 82,027 shares of the real estate investment trust's stock worth $7,249,000 after purchasing an additional 23,696 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in PennyMac Financial Services in the fourth quarter worth approximately $1,019,000. Campbell & CO Investment Adviser LLC boosted its stake in PennyMac Financial Services by 165.0% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 24,753 shares of the real estate investment trust's stock worth $2,187,000 after buying an additional 15,412 shares in the last quarter. Federated Hermes Inc. boosted its stake in PennyMac Financial Services by 40.0% in the fourth quarter. Federated Hermes Inc. now owns 60,346 shares of the real estate investment trust's stock worth $5,333,000 after buying an additional 17,245 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in PennyMac Financial Services in the third quarter worth approximately $3,370,000. Hedge funds and other institutional investors own 57.87% of the company's stock.
PennyMac Financial Services Trading Up 4.9 %
Shares of NYSE:PFSI traded up $4.33 during trading on Wednesday, reaching $92.78. 285,862 shares of the company traded hands, compared to its average volume of 230,674. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 32.22, a P/E/G ratio of 0.58 and a beta of 1.70. PennyMac Financial Services, Inc. has a 52-week low of $62.15 and a 52-week high of $94.80. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.33. The business's fifty day moving average is $90.06 and its 200-day moving average is $87.85.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, beating analysts' consensus estimates of $2.34 by $0.14. The company had revenue of $305.66 million during the quarter, compared to the consensus estimate of $422.87 million. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. As a group, analysts forecast that PennyMac Financial Services, Inc. will post 10.55 EPS for the current year.
PennyMac Financial Services Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Tuesday, May 14th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.86%. PennyMac Financial Services's dividend payout ratio is presently 27.78%.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. StockNews.com lowered PennyMac Financial Services from a "hold" rating to a "sell" rating in a research note on Tuesday, May 21st. Deutsche Bank Aktiengesellschaft cut their target price on PennyMac Financial Services from $115.00 to $112.00 and set a "buy" rating for the company in a research note on Thursday, April 25th. Barclays upped their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods cut their target price on PennyMac Financial Services from $105.00 to $100.00 and set an "outperform" rating for the company in a research note on Friday, April 26th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $110.00 target price on shares of PennyMac Financial Services in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold 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 an average target price of $97.75.
Read Our Latest Stock Report on PFSI
Insider Activity at PennyMac Financial Services
In related news, insider Derek Stark sold 5,255 shares of the company's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $89.44, for a total transaction of $470,007.20. Following the completion of the transaction, the insider now owns 27,084 shares in the company, valued at $2,422,392.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $90.56, for a total value of $905,600.00. Following the completion of the transaction, the chief executive officer now owns 230,604 shares in the company, valued at $20,883,498.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Derek Stark sold 5,255 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $89.44, for a total value of $470,007.20. Following the completion of the transaction, the insider now owns 27,084 shares of the company's stock, valued at approximately $2,422,392.96. The disclosure for this sale can be found here. Insiders sold a total of 93,120 shares of company stock worth $8,501,777 over the last quarter. 16.60% of the stock is owned by corporate insiders.
About PennyMac Financial Services
(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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