Campbell & CO Investment Adviser LLC boosted its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 165.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 24,753 shares of the real estate investment trust's stock after purchasing an additional 15,412 shares during the period. Campbell & CO Investment Adviser LLC's holdings in PennyMac Financial Services were worth $2,187,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of PFSI. Hexagon Capital Partners LLC lifted its stake in PennyMac Financial Services by 128.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 205 shares in the last quarter. Caxton Associates LP lifted its stake in PennyMac Financial Services by 3.6% in the 3rd quarter. Caxton Associates LP now owns 5,874 shares of the real estate investment trust's stock worth $391,000 after purchasing an additional 206 shares in the last quarter. USA Financial Formulas purchased a new position in PennyMac Financial Services in the 4th quarter worth approximately $25,000. Parkside Financial Bank & Trust purchased a new stake in shares of PennyMac Financial Services during the 4th quarter valued at approximately $36,000. Finally, Handelsbanken Fonder AB raised its position in shares of PennyMac Financial Services by 9.4% during the 4th quarter. Handelsbanken Fonder AB now owns 5,800 shares of the real estate investment trust's stock valued at $513,000 after buying an additional 500 shares during the period. 57.87% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on PFSI shares. Keefe, Bruyette & Woods dropped their target price on shares of PennyMac Financial Services from $105.00 to $100.00 and set an "outperform" rating for the company in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of PennyMac Financial Services from $115.00 to $112.00 and set a "buy" rating for the company in a report on Thursday, April 25th. Wedbush restated an "outperform" rating and issued a $110.00 price target on shares of PennyMac Financial Services in a research note on Thursday, April 25th. StockNews.com cut shares of PennyMac Financial Services from a "hold" rating to a "sell" rating in a research report on Tuesday, May 21st. Finally, Barclays boosted their price target on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an "overweight" rating in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $97.75.
Get Our Latest Report on PennyMac Financial Services
Insiders Place Their Bets
In other PennyMac Financial Services news, CEO David Spector sold 26,451 shares of the company's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $86.05, for a total transaction of $2,276,108.55. Following the transaction, the chief executive officer now directly owns 647,938 shares in the company, valued at $55,755,064.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Daniel Stanley Perotti sold 11,400 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $92.00, for a total value of $1,048,800.00. Following the sale, the chief financial officer now directly owns 246,497 shares in the company, valued at $22,677,724. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Spector sold 26,451 shares of the company's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $86.05, for a total transaction of $2,276,108.55. Following the transaction, the chief executive officer now directly owns 647,938 shares in the company, valued at approximately $55,755,064.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 126,650 shares of company stock worth $11,342,787. 16.60% of the stock is owned by company insiders.
PennyMac Financial Services Price Performance
PFSI traded down $0.36 on Tuesday, hitting $90.54. 153,850 shares of the company were exchanged, compared to its average volume of 234,737. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.39 and a current ratio of 0.39. The business's fifty day moving average is $90.07 and its 200 day moving average is $87.32. PennyMac Financial Services, Inc. has a fifty-two week low of $62.15 and a fifty-two week high of $94.80. The firm has a market capitalization of $4.61 billion, a P/E ratio of 31.56, a price-to-earnings-growth ratio of 0.59 and a beta of 1.70.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. The company had revenue of $305.66 million for the quarter, compared to analyst estimates of $422.87 million. As a group, sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 10.55 EPS for the current year.
PennyMac Financial Services Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th were given a dividend of $0.20 per share. The ex-dividend date was Monday, May 13th. This represents a $0.80 annualized dividend and a yield of 0.88%. PennyMac Financial Services's payout ratio is currently 27.78%.
PennyMac Financial Services Company Profile
(Free Report)
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.
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