Massachusetts Financial Services Co. MA Increases Stock Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Massachusetts Financial Services Co. MA lifted its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 48.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 320,250 shares of the real estate investment trust’s stock after purchasing an additional 104,022 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.62% of PennyMac Financial Services worth $32,710,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PFSI. KBC Group NV boosted its holdings in PennyMac Financial Services by 15.6% in the 4th 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 in the last quarter. Dakota Wealth Management boosted its stake in shares of PennyMac Financial Services by 2.6% in the fourth 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 in the last quarter. Parkside Financial Bank & Trust grew its holdings 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 worth $112,000 after acquiring an additional 389 shares during the period. Rhumbline Advisers grew its holdings in PennyMac Financial Services by 1.0% during the fourth quarter. Rhumbline Advisers now owns 41,529 shares of the real estate investment trust’s stock worth $4,242,000 after acquiring an additional 414 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in PennyMac Financial Services by 0.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 96,324 shares of the real estate investment trust’s stock worth $10,978,000 after acquiring an additional 669 shares in the last quarter. 57.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CRO Abbie Tidmore sold 2,669 shares of the firm’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $102.55, for a total value of $273,705.95. Following the sale, the executive now directly owns 4,878 shares of the company’s stock, valued at approximately $500,238.90. This trade represents a 35.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Spector sold 5,000 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $103.44, for a total transaction of $517,200.00. Following the transaction, the chief executive officer now directly owns 150,604 shares of the company’s stock, valued at approximately $15,578,477.76. This represents a 3.21 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,054 shares of company stock worth $4,995,586. Corporate insiders own 16.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on PFSI shares. Piper Sandler lowered their price target on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Keefe, Bruyette & Woods dropped their target price on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.17.

PennyMac Financial Services Stock Up 0.6 %

Shares of NYSE PFSI opened at $103.52 on Monday. The firm’s 50-day moving average is $102.33 and its two-hundred day moving average is $104.09. The company has a market capitalization of $5.32 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73. PennyMac Financial Services, Inc. has a 12-month low of $83.03 and a 12-month high of $119.13. 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 posted its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services’s payout ratio is 20.55%.

PennyMac Financial Services Company 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.