Barclays PLC Has $6.86 Million Stock Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Barclays PLC grew its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 505.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,179 shares of the real estate investment trust’s stock after acquiring an additional 50,238 shares during the period. Barclays PLC owned 0.12% of PennyMac Financial Services worth $6,859,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. SG Americas Securities LLC boosted its holdings in PennyMac Financial Services by 36.9% in the second quarter. SG Americas Securities LLC now owns 3,040 shares of the real estate investment trust’s stock worth $288,000 after purchasing an additional 820 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of PennyMac Financial Services by 1,529.6% during the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 413 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of PennyMac Financial Services by 2.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 182,245 shares of the real estate investment trust’s stock valued at $17,240,000 after acquiring an additional 4,930 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of PennyMac Financial Services by 10.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,554 shares of the real estate investment trust’s stock valued at $904,000 after acquiring an additional 935 shares in the last quarter. Finally, Picton Mahoney Asset Management raised its stake in shares of PennyMac Financial Services by 25.3% in the 2nd quarter. Picton Mahoney Asset Management now owns 59,293 shares of the real estate investment trust’s stock valued at $5,609,000 after acquiring an additional 11,964 shares in the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. 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 report on Tuesday, December 10th. Piper Sandler upped their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Wedbush reiterated an “outperform” rating and issued a $130.00 target price on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Wells Fargo & Company increased their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Barclays lifted 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, PennyMac Financial Services presently has an average rating of “Moderate Buy” and a consensus target price of $122.50.

Insider Activity

In related news, CFO Daniel Stanley Perotti sold 10,500 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $112.93, for a total value of $1,185,765.00. Following the sale, the chief financial officer now owns 235,997 shares of the company’s stock, valued at $26,651,141.21. The trade was a 4.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Gregory L. Hendry sold 3,032 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total value of $309,536.88. Following the completion of the sale, the chief accounting officer now owns 48,040 shares in the company, valued at $4,904,403.60. This trade represents a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,032 shares of company stock worth $5,721,112. Corporate insiders own 16.60% of the company’s stock.

PennyMac Financial Services Trading Down 3.9 %

Shares of PFSI opened at $99.60 on Thursday. The stock’s 50-day moving average price is $104.51 and its 200 day moving average price is $101.94. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of 31.62 and a beta of 1.78. PennyMac Financial Services, Inc. has a 12-month low of $81.93 and a 12-month high of $119.13.

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

PennyMac Financial Services Dividend Announcement

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

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.