PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Bought by Swiss National Bank

Swiss National Bank lifted its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 0.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,500 shares of the real estate investment trust’s stock after buying an additional 200 shares during the period. Swiss National Bank’s holdings in PennyMac Financial Services were worth $9,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. increased its stake in PennyMac Financial Services by 91.3% during the first quarter. Russell Investments Group Ltd. now owns 19,246 shares of the real estate investment trust’s stock worth $1,753,000 after acquiring an additional 9,183 shares during the last quarter. Vanguard Group Inc. increased its position in shares of PennyMac Financial Services by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust’s stock worth $238,509,000 after purchasing an additional 8,345 shares during the last quarter. Maverick Capital Ltd. raised its holdings in PennyMac Financial Services by 263.8% in the 2nd quarter. Maverick Capital Ltd. now owns 12,904 shares of the real estate investment trust’s stock valued at $1,221,000 after buying an additional 9,357 shares during the period. American Century Companies Inc. lifted its position in PennyMac Financial Services by 13.2% in the second quarter. American Century Companies Inc. now owns 347,979 shares of the real estate investment trust’s stock valued at $32,919,000 after buying an additional 40,676 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its stake in PennyMac Financial Services by 256.9% during the second quarter. Edgestream Partners L.P. now owns 84,861 shares of the real estate investment trust’s stock worth $8,028,000 after buying an additional 61,087 shares during the period. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Insider Buying and Selling at PennyMac Financial Services

In related news, CFO Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $112.93, for a total transaction of $1,185,765.00. Following the sale, the chief financial officer now directly owns 235,997 shares in the company, valued at $26,651,141.21. This trade represents a 4.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Richard Bailey sold 14,130 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the completion of the sale, the insider now directly owns 14,670 shares of the company’s stock, valued at approximately $1,714,629.60. This trade represents a 49.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 68,162 shares of company stock worth $7,491,026 over the last ninety days. Corporate insiders own 16.60% of the company’s stock.

PennyMac Financial Services Price Performance

PFSI stock opened at $105.62 on Monday. PennyMac Financial Services, Inc. has a 1 year low of $76.57 and a 1 year high of $119.13. The firm has a market capitalization of $5.41 billion, a P/E ratio of 33.53 and a beta of 1.79. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. The business’s 50-day moving average is $106.77 and its two-hundred day moving average is $100.29.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The firm had revenue of $411.83 million during the quarter, compared to analysts’ expectations of $513.12 million. During the same quarter in the prior year, the firm earned $1.77 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. Analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 18th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.14%. The ex-dividend date is Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 38.10%.

Analyst Upgrades and Downgrades

PFSI has been the topic of several recent analyst reports. Wedbush restated an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Barclays raised their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Wells Fargo & Company increased their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, Piper Sandler lifted their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.86.

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.