Barclays PLC Has $4.89 Million Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Barclays PLC cut its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 20.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,883 shares of the real estate investment trust’s stock after selling 12,296 shares during the period. Barclays PLC’s holdings in PennyMac Financial Services were worth $4,891,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Summit Investment Advisors Inc. raised its stake in shares of PennyMac Financial Services by 5.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,797 shares of the real estate investment trust’s stock valued at $286,000 after acquiring an additional 154 shares during the last quarter. KBC Group NV raised its position in 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 purchasing an additional 209 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in PennyMac Financial Services by 601.8% during the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 343 shares during the period. Dakota Wealth Management grew its position in shares of 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. Finally, Parkside Financial Bank & Trust increased its stake 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 buying an additional 389 shares during the period. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PennyMac Financial Services news, insider James Follette sold 1,983 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was 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 of the company’s stock, valued at approximately $1,048,965.21. The trade was a 15.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO David Spector sold 6,839 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 635,554 shares in the company, valued at $64,902,774.48. This represents a 1.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,464 shares of company stock worth $4,540,867. Insiders own 16.60% of the company’s stock.

PennyMac Financial Services Stock Performance

Shares of PFSI opened at $93.65 on Friday. PennyMac Financial Services, Inc. has a one year low of $84.93 and a one year high of $119.13. The company has a market cap of $4.82 billion, a PE ratio of 16.04, a P/E/G ratio of 0.19 and a beta of 1.73. The stock has a 50-day moving average of $98.69 and a 200-day moving average of $102.27. 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 (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $2.99 by ($1.57). The firm had revenue of $430.90 million during the quarter, compared to analyst estimates of $520.42 million. PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. During the same period last year, the business posted $0.74 EPS. On average, equities research analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.28%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 18.40%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PFSI. Keefe, Bruyette & Woods raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price objective on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company dropped their price target on shares of PennyMac Financial Services from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday. Piper Sandler decreased their price objective 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 dropped 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 report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.17.

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.