Inceptionr LLC Invests $685,000 in PennyMac Financial Services, Inc. (NYSE:PFSI)

Inceptionr LLC bought a new position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,705 shares of the real estate investment trust’s stock, valued at approximately $685,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of PennyMac Financial Services by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 453,810 shares of the real estate investment trust’s stock worth $46,352,000 after purchasing an additional 6,459 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of PennyMac Financial Services by 54.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 389 shares during the period. MorganRosel Wealth Management LLC lifted its holdings in shares of PennyMac Financial Services by 60.4% during the fourth quarter. MorganRosel Wealth Management LLC now owns 11,728 shares of the real estate investment trust’s stock worth $1,198,000 after purchasing an additional 4,416 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of PennyMac Financial Services by 22.7% during the fourth quarter. Bank of New York Mellon Corp now owns 198,897 shares of the real estate investment trust’s stock worth $20,315,000 after purchasing an additional 36,800 shares during the period. Finally, New York State Common Retirement Fund lifted its holdings in shares of PennyMac Financial Services by 6.1% during the fourth quarter. New York State Common Retirement Fund now owns 71,065 shares of the real estate investment trust’s stock worth $7,259,000 after purchasing an additional 4,077 shares during the period. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Trading Up 0.8 %

Shares of NYSE:PFSI opened at $101.82 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 market capitalization of $5.24 billion, a PE ratio of 17.43, a PEG ratio of 0.19 and a beta of 1.90. The business has a 50 day moving average of $103.61 and a two-hundred day moving average of $105.10. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. As a group, analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services’s payout ratio is 20.55%.

Insider Transactions at PennyMac Financial Services

In other news, CEO David Spector sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was 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 represents a 2.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Derek Stark sold 588 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $101.52, for a total value of $59,693.76. Following the transaction, the insider now directly owns 25,621 shares of the company’s stock, valued at approximately $2,601,043.92. The trade was a 2.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 150,697 shares of company stock valued at $15,327,924 in the last three months. 16.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PFSI shares. 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 report on Tuesday, December 10th. Piper Sandler decreased their price target on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, January 31st. One investment 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’s stock. According to data from MarketBeat, PennyMac Financial Services currently has an average rating of “Moderate Buy” and an average price target of $122.17.

PennyMac Financial Services Company 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.