Dakota Wealth Management Purchases 374 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Dakota Wealth Management increased its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,578 shares of the real estate investment trust’s stock after purchasing an additional 374 shares during the period. Dakota Wealth Management’s holdings in PennyMac Financial Services were worth $1,489,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PFSI. KBC Group NV grew its stake in PennyMac Financial Services by 20.3% during the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 226 shares in the last quarter. Blue Trust Inc. grew its stake in PennyMac Financial Services by 59.5% during the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock valued at $80,000 after acquiring an additional 262 shares in the last quarter. Quantbot Technologies LP grew its stake in PennyMac Financial Services by 23.7% during the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 290 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in PennyMac Financial Services during the third quarter valued at $37,000. Finally, Northwest & Ethical Investments L.P. grew its stake in PennyMac Financial Services by 38.3% during the third quarter. Northwest & Ethical Investments L.P. now owns 2,330 shares of the real estate investment trust’s stock valued at $266,000 after acquiring an additional 645 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Doug Jones sold 7,882 shares of PennyMac Financial Services stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $103.16, for a total transaction of $813,107.12. Following the completion of the sale, the director now owns 450,000 shares in the company, valued at $46,422,000. This trade represents a 1.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO David Spector sold 5,000 shares of PennyMac Financial Services stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $99.38, for a total transaction of $496,900.00. Following the sale, the chief executive officer now owns 165,604 shares of the company’s stock, valued at $16,457,725.52. The trade was a 2.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,844 shares of company stock valued at $15,079,791. Company insiders own 16.60% of the company’s stock.

PennyMac Financial Services Price Performance

PFSI stock opened at $109.18 on Friday. 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 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75. The company has a 50-day moving average price of $103.76 and a 200 day moving average price of $103.78. The stock has a market cap of $5.60 billion, a PE ratio of 34.66, a P/E/G ratio of 0.20 and a beta of 1.78.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 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 for the quarter, compared to analysts’ expectations of $513.12 million. During the same period in the prior year, the firm posted $1.77 earnings per share. PennyMac Financial Services’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts anticipate that PennyMac Financial Services, Inc. will post 11.76 earnings per share for the current year.

Analyst Ratings Changes

PFSI has been the subject of a number of recent research reports. Barclays lifted their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods dropped 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 note on Tuesday, December 10th. Wells Fargo & Company lifted their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Wedbush reissued an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Finally, Piper Sandler lifted their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One equities 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 company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.50.

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.