Foster & Motley Inc. Sells 97 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Foster & Motley Inc. lessened its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 4.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,001 shares of the real estate investment trust’s stock after selling 97 shares during the period. Foster & Motley Inc.’s holdings in PennyMac Financial Services were worth $204,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sei Investments Co. boosted its position in PennyMac Financial Services by 43.6% during the second quarter. Sei Investments Co. now owns 12,740 shares of the real estate investment trust’s stock worth $1,205,000 after purchasing an additional 3,870 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of PennyMac Financial Services by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,449 shares of the real estate investment trust’s stock worth $1,745,000 after buying an additional 1,166 shares during the period. Algert Global LLC acquired a new position in PennyMac Financial Services in the 2nd quarter valued at $408,000. Creative Planning raised its holdings in PennyMac Financial Services by 59.9% in the 2nd quarter. Creative Planning now owns 4,977 shares of the real estate investment trust’s stock worth $471,000 after acquiring an additional 1,865 shares during the period. Finally, SG Americas Securities LLC lifted its position in PennyMac Financial Services by 291.8% during the 3rd quarter. SG Americas Securities LLC now owns 11,911 shares of the real estate investment trust’s stock worth $1,357,000 after acquiring an additional 8,871 shares during the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI opened at $104.93 on Friday. PennyMac Financial Services, Inc. has a one year low of $83.03 and a one year 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 business has a fifty day simple moving average of $104.65 and a 200 day simple moving average of $104.42. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 33.31, a PEG ratio of 0.21 and a beta of 1.78.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. Sell-side analysts expect that PennyMac Financial Services, Inc. will post 11.76 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.14%. PennyMac Financial Services’s dividend payout ratio is currently 38.10%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PFSI. Wedbush reaffirmed an “outperform” rating and issued a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reduced their price objective 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 lowered their price objective on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Barclays upped their target price 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 assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PennyMac Financial Services presently has a consensus rating of “Moderate Buy” and an average price target of $122.17.

Insider Transactions at PennyMac Financial Services

In related news, 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 completion of the transaction, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at $16,457,725.52. This trade represents a 2.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Gregory L. Hendry sold 3,032 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total transaction of $309,536.88. Following the completion of the transaction, the chief accounting officer now owns 48,040 shares in the company, valued at approximately $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 ninety days, insiders sold 147,844 shares of company stock valued at $15,079,791. Corporate insiders own 16.60% of the company’s stock.

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.