Senator Investment Group LP Purchases 31,737 Shares of PennyMac Financial Services, Inc. $PFSI

Senator Investment Group LP grew its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 12.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 287,093 shares of the real estate investment trust’s stock after buying an additional 31,737 shares during the period. PennyMac Financial Services makes up 1.5% of Senator Investment Group LP’s holdings, making the stock its 22nd biggest position. Senator Investment Group LP’s holdings in PennyMac Financial Services were worth $37,850,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in PennyMac Financial Services by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,832,737 shares of the real estate investment trust’s stock worth $373,468,000 after buying an additional 12,782 shares during the period. Invesco Ltd. increased its position in PennyMac Financial Services by 18.3% during the 3rd quarter. Invesco Ltd. now owns 1,463,096 shares of the real estate investment trust’s stock worth $181,248,000 after buying an additional 226,581 shares during the period. Basswood Capital Management L.L.C. increased its position in PennyMac Financial Services by 5.9% during the 2nd quarter. Basswood Capital Management L.L.C. now owns 570,210 shares of the real estate investment trust’s stock worth $56,816,000 after buying an additional 31,743 shares during the period. 140 Summer Partners LP bought a new position in PennyMac Financial Services during the 3rd quarter worth $55,268,000. Finally, American Century Companies Inc. raised its holdings in PennyMac Financial Services by 7.5% in the 3rd quarter. American Century Companies Inc. now owns 429,403 shares of the real estate investment trust’s stock valued at $53,195,000 after acquiring an additional 30,015 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Stock Performance

NYSE:PFSI opened at $82.27 on Tuesday. The stock has a fifty day moving average price of $87.48 and a 200-day moving average price of $105.21. The company has a market cap of $4.27 billion, a price-to-earnings ratio of 8.74, a PEG ratio of 0.53 and a beta of 1.44. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.33 and a current ratio of 0.33. PennyMac Financial Services, Inc. has a fifty-two week low of $77.67 and a fifty-two week high of $160.36.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.03). PennyMac Financial Services had a net margin of 23.47% and a return on equity of 10.93%. The company had revenue of $544.98 million for the quarter, compared to the consensus estimate of $546.17 million. During the same quarter in the previous year, the company posted $1.42 earnings per share. The business’s revenue was up 26.5% compared to the same quarter last year. As a group, equities analysts anticipate that PennyMac Financial Services, Inc. will post 10.68 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.5%. PennyMac Financial Services’s payout ratio is 12.75%.

Insiders Place Their Bets

In other news, CFO Daniel Stanley Perotti sold 2,925 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $87.50, for a total transaction of $255,937.50. Following the completion of the transaction, the chief financial officer owned 210,625 shares of the company’s stock, valued at approximately $18,429,687.50. The trade was a 1.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Spector sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $87.99, for a total value of $879,900.00. Following the transaction, the chief executive officer directly owned 60,604 shares of the company’s stock, valued at $5,332,545.96. This trade represents a 14.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,925 shares of company stock valued at $2,064,138 in the last three months. 15.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PFSI shares. Weiss Ratings downgraded PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. Wells Fargo & Company cut their target price on PennyMac Financial Services from $110.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, May 6th. Barclays cut their target price on PennyMac Financial Services from $116.00 to $107.00 and set an “overweight” rating for the company in a research report on Monday, May 11th. Keefe, Bruyette & Woods cut their target price on PennyMac Financial Services from $115.00 to $108.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Finally, Zacks Research downgraded PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research report on Friday, May 8th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $122.75.

PennyMac Financial Services Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.