BW Gestao de Investimentos Ltda. Takes $11.87 Million Position in PennyMac Financial Services, Inc. $PFSI

BW Gestao de Investimentos Ltda. bought a new stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 90,000 shares of the real estate investment trust’s stock, valued at approximately $11,866,000.

Other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of PennyMac Financial Services during the 4th quarter worth $44,287,000. Intech Investment Management LLC raised its holdings in shares of PennyMac Financial Services by 13.0% during the 4th quarter. Intech Investment Management LLC now owns 10,314 shares of the real estate investment trust’s stock worth $1,360,000 after buying an additional 1,185 shares in the last quarter. Fisher Asset Management LLC acquired a new position in shares of PennyMac Financial Services during the 4th quarter worth $314,000. Clearstead Advisors LLC raised its holdings in shares of PennyMac Financial Services by 131.8% during the 4th quarter. Clearstead Advisors LLC now owns 503 shares of the real estate investment trust’s stock worth $66,000 after buying an additional 286 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in shares of PennyMac Financial Services during the 4th quarter worth $335,000. 57.87% of the stock is currently owned by institutional investors.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 2,925 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $87.50, for a total value of $255,937.50. Following the sale, the chief financial officer owned 210,625 shares in the company, valued at approximately $18,429,687.50. The trade was a 1.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Spector sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $87.99, for a total value of $879,900.00. Following the completion of the sale, the chief executive officer owned 60,604 shares in the company, valued at $5,332,545.96. This trade represents a 14.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 45,361 shares of company stock worth $4,002,384 in the last quarter. Corporate insiders own 15.80% of the company’s stock.

PennyMac Financial Services Price Performance

Shares of PFSI opened at $82.40 on Tuesday. PennyMac Financial Services, Inc. has a 12-month low of $82.24 and a 12-month high of $160.36. The business has a 50-day simple moving average of $88.47 and a two-hundred day simple moving average of $108.42. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 3.63. The stock has a market cap of $4.28 billion, a PE ratio of 8.76, a PEG ratio of 0.55 and a beta of 1.44.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 EPS for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.03). PennyMac Financial Services had a net margin of 23.47% and a return on equity of 10.93%. The company had revenue of $544.98 million during the quarter, compared to the consensus estimate of $546.17 million. During the same quarter last year, the firm posted $1.42 EPS. The company’s quarterly revenue was up 26.5% on a year-over-year basis. Analysts anticipate that PennyMac Financial Services, Inc. will post 10.68 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, May 18th. PennyMac Financial Services’s payout ratio is 12.75%.

Analysts Set New Price Targets

PFSI has been the subject of a number of research analyst reports. Zacks Research cut PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Weiss Ratings cut PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Wells Fargo & Company lowered their price target on PennyMac Financial Services from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Stephens initiated coverage on PennyMac Financial Services in a report on Friday, April 24th. They set an “equal weight” rating and a $100.00 price target for the company. Finally, Piper Sandler lowered their price target on PennyMac Financial Services from $122.00 to $112.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Six investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $122.75.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.