2,652 Shares in PennyMac Financial Services, Inc. (NYSE:PFSI) Purchased by Foster & Motley Inc.

Foster & Motley Inc. acquired a new position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 2,652 shares of the real estate investment trust’s stock, valued at approximately $234,000.

Other hedge funds have also modified their holdings of the company. Jacobs Levy Equity Management Inc. bought a new position in PennyMac Financial Services in the third quarter valued at approximately $17,242,000. Invesco Ltd. lifted its position in shares of PennyMac Financial Services by 47.6% in the third quarter. Invesco Ltd. now owns 490,297 shares of the real estate investment trust’s stock valued at $32,654,000 after buying an additional 158,181 shares during the last quarter. Adage Capital Partners GP L.L.C. acquired a new stake in shares of PennyMac Financial Services in the third quarter valued at approximately $3,657,000. Qube Research & Technologies Ltd acquired a new stake in shares of PennyMac Financial Services in the third quarter valued at approximately $3,370,000. Finally, QRG Capital Management Inc. acquired a new stake in shares of PennyMac Financial Services in the third quarter valued at approximately $2,041,000. 57.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wedbush reaffirmed an “outperform” rating and issued a $110.00 price objective on shares of PennyMac Financial Services in a research report on Thursday. Keefe, Bruyette & Woods raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $100.00 to $105.00 in a report on Tuesday, April 9th. StockNews.com cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft dropped their price target on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a report on Thursday. Finally, Barclays lifted their price target on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $98.38.

Insider Activity

In related news, CFO Daniel Stanley Perotti sold 11,400 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $88.50, for a total transaction of $1,008,900.00. Following the sale, the chief financial officer now owns 257,897 shares in the company, valued at approximately $22,823,884.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PennyMac Financial Services news, CEO David Spector sold 15,000 shares of PennyMac Financial Services stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $87.18, for a total transaction of $1,307,700.00. Following the transaction, the chief executive officer now directly owns 270,604 shares of the company’s stock, valued at approximately $23,591,256.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel Stanley Perotti sold 11,400 shares of PennyMac Financial Services stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $88.50, for a total value of $1,008,900.00. Following the transaction, the chief financial officer now directly owns 257,897 shares in the company, valued at $22,823,884.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 87,802 shares of company stock worth $7,666,108. Insiders own 17.40% of the company’s stock.

PennyMac Financial Services Trading Down 6.4 %

Shares of PFSI opened at $86.20 on Friday. PennyMac Financial Services, Inc. has a 52-week low of $56.16 and a 52-week high of $94.78. The business’s fifty day moving average is $87.95 and its 200-day moving average is $82.89. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 0.61 and a beta of 1.67.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a return on equity of 10.51% and a net margin of 10.94%. The company had revenue of $305.66 million for the quarter, compared to analyst estimates of $422.87 million. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 10.41 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 24th. Stockholders of record on Tuesday, May 14th will be paid a $0.20 dividend. The ex-dividend date is Monday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.93%. PennyMac Financial Services’s payout ratio is 27.78%.

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.