HighTower Advisors LLC Sells 1,978 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

HighTower Advisors LLC reduced its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 32.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 4,133 shares of the real estate investment trust’s stock after selling 1,978 shares during the period. HighTower Advisors LLC’s holdings in PennyMac Financial Services were worth $422,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. State Street Corp raised its position in PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock valued at $103,911,000 after purchasing an additional 51,777 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of PennyMac Financial Services by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock valued at $108,809,000 after purchasing an additional 21,751 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of PennyMac Financial Services by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 453,810 shares of the real estate investment trust’s stock worth $46,352,000 after buying an additional 6,459 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of PennyMac Financial Services during the 3rd quarter worth $614,000. Finally, Assenagon Asset Management S.A. boosted its stake in PennyMac Financial Services by 27.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 27,206 shares of the real estate investment trust’s stock valued at $2,779,000 after buying an additional 5,833 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

Insider Activity at PennyMac Financial Services

In other news, insider James Follette sold 1,983 shares of the stock in a transaction on Tuesday, February 25th. The shares were 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 in the company, valued at $1,048,965.21. This represents a 15.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock in a transaction on Friday, February 14th. The stock was sold at an average price of $101.49, for a total transaction of $1,065,645.00. Following the transaction, the chief financial officer now directly owns 214,997 shares of the company’s stock, valued at $21,820,045.53. This represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,054 shares of company stock worth $4,478,386 over the last three months. Company insiders own 16.60% of the company’s stock.

PennyMac Financial Services Stock Performance

Shares of PFSI stock opened at $100.12 on Tuesday. The business’s 50-day moving average price is $102.87 and its 200-day moving average price is $104.47. PennyMac Financial Services, Inc. has a 12 month low of $83.03 and a 12 month high of $119.13. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 0.19 and a beta of 1.90.

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 for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. Equities research analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

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

Analyst Ratings Changes

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

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.