PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Acquired by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 9.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,800 shares of the real estate investment trust’s stock after buying an additional 500 shares during the period. Handelsbanken Fonder AB’s holdings in PennyMac Financial Services were worth $513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. boosted its position in shares of PennyMac Financial Services by 47.6% during the 3rd quarter. Invesco Ltd. now owns 490,297 shares of the real estate investment trust’s stock worth $32,654,000 after purchasing an additional 158,181 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of PennyMac Financial Services by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 392,798 shares of the real estate investment trust’s stock worth $26,160,000 after purchasing an additional 6,855 shares during the period. American Century Companies Inc. boosted its position in shares of PennyMac Financial Services by 6.2% during the 3rd quarter. American Century Companies Inc. now owns 277,643 shares of the real estate investment trust’s stock worth $18,491,000 after purchasing an additional 16,174 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of PennyMac Financial Services during the 3rd quarter worth approximately $17,242,000. Finally, Bank of New York Mellon Corp boosted its position in shares of PennyMac Financial Services by 3.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 234,486 shares of the real estate investment trust’s stock worth $15,617,000 after purchasing an additional 7,251 shares during the period. Institutional investors and hedge funds own 57.87% of the company’s stock.

Insider Transactions at PennyMac Financial Services

In related news, CEO David Spector sold 26,451 shares of PennyMac Financial Services stock in a transaction 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 sale, the chief executive officer now directly owns 647,938 shares in the company, valued at approximately $55,755,064.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO David Spector sold 26,451 shares of PennyMac Financial Services stock in a transaction 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 sale, the chief executive officer now directly owns 647,938 shares in the company, valued at approximately $55,755,064.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daniel Stanley Perotti sold 11,400 shares of PennyMac Financial Services 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 $22,823,884.50. The disclosure for this sale can be found here. In the last three months, insiders sold 87,802 shares of company stock valued at $7,666,108. Insiders own 16.60% of the company’s stock.

PennyMac Financial Services Price Performance

PennyMac Financial Services stock opened at $86.20 on Thursday. The stock has a market cap of $4.35 billion, a P/E ratio of 29.55, a price-to-earnings-growth ratio of 0.57 and a beta of 1.67. The company has a fifty day simple moving average of $87.78 and a 200-day simple moving average of $83.53. PennyMac Financial Services, Inc. has a 12-month low of $56.16 and a 12-month high of $94.78. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 1.90.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.14. The business had revenue of $305.66 million during the quarter, compared to analysts’ expectations of $422.87 million. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.51%. Equities analysts expect that PennyMac Financial Services, Inc. will post 10.55 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.93%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 27.78%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Barclays increased their price objective on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods decreased their price target on shares of PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Wedbush reissued an “outperform” rating and issued a $110.00 price target on shares of PennyMac Financial Services in a research report 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 Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.75.

About PennyMac Financial Services

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.