PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Sold by Cynosure Group LLC

Cynosure Group LLC reduced its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 11.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 5,719 shares of the real estate investment trust’s stock after selling 735 shares during the period. Cynosure Group LLC’s holdings in PennyMac Financial Services were worth $584,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PFSI. Bryce Point Capital LLC acquired a new stake in PennyMac Financial Services during the 4th quarter worth approximately $1,549,000. Massachusetts Financial Services Co. MA raised its stake in shares of PennyMac Financial Services by 48.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 320,250 shares of the real estate investment trust’s stock worth $32,710,000 after purchasing an additional 104,022 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of PennyMac Financial Services by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 658,559 shares of the real estate investment trust’s stock worth $67,283,000 after purchasing an additional 10,795 shares during the period. Franklin Resources Inc. grew its position in PennyMac Financial Services by 102.0% in the 4th quarter. Franklin Resources Inc. now owns 21,935 shares of the real estate investment trust’s stock valued at $2,240,000 after buying an additional 11,074 shares during the last quarter. Finally, Norges Bank acquired a new position in PennyMac Financial Services in the 4th quarter valued at $38,004,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Financial Services Stock Performance

Shares of PFSI opened at $100.11 on Wednesday. The company has a market capitalization of $5.15 billion, a PE ratio of 17.14, a P/E/G ratio of 0.19 and a beta of 1.90. PennyMac Financial Services, Inc. has a 52-week low of $83.03 and a 52-week high of $119.13. The company has a 50-day simple moving average of $102.70 and a 200-day simple moving average of $104.37. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) 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%. Equities research analysts predict that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

PFSI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods cut 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 report on Tuesday, December 10th. Piper Sandler reduced their price objective on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $122.17.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, insider Derek Stark sold 588 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $101.52, for a total transaction of $59,693.76. Following the sale, the insider now owns 25,621 shares in the company, valued at approximately $2,601,043.92. This represents a 2.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Doug Jones sold 8,373 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $102.95, for a total value of $862,000.35. Following the completion of the transaction, the director now directly owns 19,056 shares of the company’s stock, valued at approximately $1,961,815.20. This trade represents a 30.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,054 shares of company stock valued at $4,478,386. 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.