PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 2.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 954,713 shares of the real estate investment trust’s stock after purchasing an additional 21,751 shares during the quarter. JPMorgan Chase & Co.’s holdings in PennyMac Financial Services were worth $108,809,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PFSI. Harbor Capital Advisors Inc. purchased a new stake in PennyMac Financial Services during the 3rd quarter worth about $37,000. Blue Trust Inc. raised its holdings in PennyMac Financial Services by 59.5% in 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. KBC Group NV raised its holdings in PennyMac Financial Services by 20.3% in 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. Quantbot Technologies LP lifted its stake in PennyMac Financial Services by 23.7% in the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 290 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new position in PennyMac Financial Services during the 3rd quarter worth approximately $203,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Stock Performance

Shares of PFSI opened at $102.14 on Thursday. The company’s 50 day simple moving average is $103.48 and its 200-day simple moving average is $102.71. PennyMac Financial Services, Inc. has a 12-month low of $81.93 and a 12-month high of $119.13. The firm has a market cap of $5.24 billion, a PE ratio of 32.43 and a beta of 1.78. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data 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 net margin of 11.45% and a return on equity of 15.13%. The business had revenue of $411.83 million during the quarter, compared to analyst estimates of $513.12 million. During the same quarter in the prior year, the firm posted $1.77 earnings per share. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities analysts predict that PennyMac Financial Services, Inc. will post 11.88 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. PennyMac Financial Services’s payout ratio is 38.10%.

Insider Buying and Selling at PennyMac Financial Services

In other news, CFO Daniel Stanley Perotti sold 10,500 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $100.02, for a total value of $1,050,210.00. Following the completion of the sale, the chief financial officer now owns 225,497 shares in the company, valued at approximately $22,554,209.94. This trade represents a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Doug Jones sold 600 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $102.04, for a total transaction of $61,224.00. Following the transaction, the director now owns 23,892 shares in the company, valued at approximately $2,437,939.68. This trade represents a 2.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 152,844 shares of company stock worth $15,658,591. 16.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PFSI. 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 report on Thursday, October 24th. Wedbush reaffirmed an “outperform” rating and set a $130.00 price objective on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Piper Sandler raised their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods decreased their target price on 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. Finally, Barclays increased their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $122.50.

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.