Eagle Asset Management Inc. Acquires New Position in PennyMac Financial Services Inc (NYSE:PFSI)

Eagle Asset Management Inc. acquired a new stake in shares of PennyMac Financial Services Inc (NYSE:PFSI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 184,276 shares of the real estate investment trust’s stock, valued at approximately $5,598,000.

Several other large investors also recently made changes to their positions in PFSI. First Trust Advisors LP grew its stake in shares of PennyMac Financial Services by 2.6% during the 1st quarter. First Trust Advisors LP now owns 111,812 shares of the real estate investment trust’s stock valued at $2,487,000 after acquiring an additional 2,862 shares during the period. Denali Advisors LLC bought a new position in shares of PennyMac Financial Services during the 2nd quarter valued at approximately $195,000. Bessemer Group Inc. grew its stake in shares of PennyMac Financial Services by 33.6% during the 2nd quarter. Bessemer Group Inc. now owns 13,109 shares of the real estate investment trust’s stock valued at $291,000 after acquiring an additional 3,299 shares during the period. Strs Ohio grew its stake in shares of PennyMac Financial Services by 5.6% during the 2nd quarter. Strs Ohio now owns 30,100 shares of the real estate investment trust’s stock valued at $667,000 after acquiring an additional 1,600 shares during the period. Finally, Bayview Asset Management LLC grew its stake in shares of PennyMac Financial Services by 26.1% during the 2nd quarter. Bayview Asset Management LLC now owns 459,920 shares of the real estate investment trust’s stock valued at $10,201,000 after acquiring an additional 95,246 shares during the period. Institutional investors own 30.58% of the company’s stock.

In related news, Director Anne Mccallion sold 10,000 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $31.44, for a total transaction of $314,400.00. Also, Chairman Stanford L. Kurland sold 45,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $30.71, for a total value of $1,381,950.00. Insiders have sold a total of 235,000 shares of company stock worth $7,164,050 in the last 90 days. 22.17% of the stock is currently owned by insiders.

A number of brokerages recently issued reports on PFSI. ValuEngine downgraded PennyMac Financial Services from a “sell” rating to a “strong sell” rating in a research note on Friday. TheStreet upgraded PennyMac Financial Services from a “c+” rating to a “b+” rating in a research note on Wednesday, August 14th. Wells Fargo & Co raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a report on Thursday, September 5th. Barclays reissued a “buy” rating and issued a $37.00 price target on shares of PennyMac Financial Services in a report on Friday, October 25th. Finally, Piper Jaffray Companies boosted their price target on PennyMac Financial Services from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, September 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $33.40.

NYSE:PFSI opened at $30.86 on Tuesday. The stock’s fifty day moving average is $31.28 and its 200 day moving average is $26.25. PennyMac Financial Services Inc has a fifty-two week low of $19.28 and a fifty-two week high of $33.46. The firm has a market capitalization of $2.42 billion, a PE ratio of 11.92, a PEG ratio of 0.69 and a beta of 0.36. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.18 and a current ratio of 0.18.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Thursday, October 31st. The real estate investment trust reported $1.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.26. PennyMac Financial Services had a return on equity of 15.84% and a net margin of 22.54%. The company had revenue of $436.35 million for the quarter, compared to analyst estimates of $368.20 million. Equities analysts forecast that PennyMac Financial Services Inc will post 4.43 EPS for the current year.

The business also recently declared a dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, November 14th.

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. It operates through three segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment is involved in the origination, acquisition, and sale of mortgage loans.

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Institutional Ownership by Quarter for PennyMac Financial Services (NYSE:PFSI)

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