PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Purchased by Cannon Global Investment Management LLC

Cannon Global Investment Management LLC lifted its position in PennyMac Financial Services, Inc. (NYSE:PFSI) by 100.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,800 shares of the real estate investment trust’s stock after acquiring an additional 2,400 shares during the period. Cannon Global Investment Management LLC’s holdings in PennyMac Financial Services were worth $490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of PennyMac Financial Services by 7.4% in the fourth quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust’s stock valued at $294,835,000 after purchasing an additional 199,667 shares during the period. FMR LLC increased its holdings in PennyMac Financial Services by 231.9% in the 3rd quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock worth $133,003,000 after buying an additional 815,389 shares during the period. JPMorgan Chase & Co. increased its holdings in 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 worth $108,809,000 after buying an additional 21,751 shares during the period. State Street Corp increased its stake in shares of PennyMac Financial Services by 6.0% in the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after acquiring an additional 51,777 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of PennyMac Financial Services by 3.1% in the third quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust’s stock worth $73,841,000 after acquiring an additional 19,662 shares during the period. 57.87% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Doug Jones sold 7,882 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $103.16, for a total value of $813,107.12. Following the sale, the director now directly owns 450,000 shares in the company, valued at approximately $46,422,000. The trade was a 1.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Spector sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $99.38, for a total transaction of $496,900.00. Following the completion of the sale, the chief executive officer now directly owns 165,604 shares in the company, valued at $16,457,725.52. This trade represents a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,496 shares of company stock valued at $7,375,763 over the last ninety days. Company insiders own 16.60% of the company’s stock.

Analysts Set New Price Targets

PFSI has been the topic of several analyst reports. Keefe, Bruyette & Woods cut their price target on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 10th. Piper Sandler dropped their target price on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $122.17.

PennyMac Financial Services Trading Down 0.4 %

PFSI opened at $101.18 on Monday. PennyMac Financial Services, Inc. has a 1-year low of $83.03 and a 1-year high of $119.13. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. The company’s 50 day simple moving average is $103.18 and its two-hundred day simple moving average is $104.75.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 EPS 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%. Analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 20.55%.

PennyMac Financial Services 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.