Putnam Investments LLC Has $1.50 Million Stock Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Putnam Investments LLC trimmed its position in PennyMac Financial Services, Inc. (NYSE:PFSI – Get Rating) by 5.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,929 shares of the real estate investment trust’s stock after selling 2,130 shares during the period. Putnam Investments LLC owned approximately 0.07% of PennyMac Financial Services worth $1,499,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Neo Ivy Capital Management acquired a new stake in shares of PennyMac Financial Services in the 2nd quarter valued at approximately $306,000. Dimensional Fund Advisors LP raised its holdings in PennyMac Financial Services by 24.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,863,405 shares of the real estate investment trust’s stock worth $79,941,000 after buying an additional 360,101 shares during the period. Senvest Management LLC raised its holdings in PennyMac Financial Services by 5.9% during the 3rd quarter. Senvest Management LLC now owns 2,228,286 shares of the real estate investment trust’s stock worth $95,593,000 after buying an additional 124,554 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in PennyMac Financial Services by 9.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 4,940,575 shares of the real estate investment trust’s stock worth $215,953,000 after buying an additional 422,092 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in PennyMac Financial Services by 16.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,776 shares of the real estate investment trust’s stock worth $76,000 after buying an additional 250 shares during the period. 67.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PennyMac Financial Services

In related news, insider Steven Richard Bailey sold 18,923 shares of the firm’s stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $66.33, for a total value of $1,255,162.59. Following the completion of the transaction, the insider now directly owns 11,914 shares of the company’s stock, valued at $790,255.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other PennyMac Financial Services news, insider Steven Richard Bailey sold 18,923 shares of PennyMac Financial Services stock in a transaction on Wednesday, February 8th. The shares were sold at an average price of $66.33, for a total transaction of $1,255,162.59. Following the completion of the transaction, the insider now directly owns 11,914 shares of the company’s stock, valued at $790,255.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Donald J. White sold 6,136 shares of PennyMac Financial Services stock in a transaction on Monday, February 6th. The stock was sold at an average price of $64.39, for a total transaction of $395,097.04. Following the transaction, the insider now directly owns 6,236 shares of the company’s stock, valued at $401,536.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 150,714 shares of company stock valued at $9,294,637. 18.00% of the stock is owned by corporate insiders.

PennyMac Financial Services Price Performance

NYSE PFSI opened at $57.71 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 1.46. PennyMac Financial Services, Inc. has a 12-month low of $38.53 and a 12-month high of $73.79. The company has a market capitalization of $2.89 billion, a PE ratio of 6.88 and a beta of 1.49. The firm’s 50 day moving average is $63.22 and its 200-day moving average is $56.32.

PennyMac Financial Services (NYSE:PFSI – Get Rating) last released its earnings results on Thursday, February 2nd. The real estate investment trust reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.04. PennyMac Financial Services had a net margin of 23.95% and a return on equity of 14.00%. The business had revenue of $340.45 million during the quarter, compared to analysts’ expectations of $326.70 million. Equities research analysts anticipate that PennyMac Financial Services, Inc. will post 6.76 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Tuesday, February 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, February 13th. This represents a $0.80 annualized dividend and a dividend yield of 1.39%. PennyMac Financial Services’s dividend payout ratio is presently 9.54%.

Wall Street Analyst Weigh In

Several analysts have commented on PFSI shares. Wells Fargo & Company upgraded shares of PennyMac Financial Services from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $54.00 to $75.00 in a report on Tuesday, December 6th. JMP Securities downgraded shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 18th. Barclays raised their target price on shares of PennyMac Financial Services from $58.00 to $69.00 and gave the stock an “equal weight” rating in a report on Friday, February 3rd. Finally, StockNews.com upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Saturday, February 11th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, PennyMac Financial Services currently has an average rating of “Hold” and a consensus target price of $69.50.

PennyMac Financial Services Profile

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PennyMac Financial Services, Inc operates as a holding company, which engages in the production and servicing of U.S. residential mortgage loans. It operates through the following segments: Production, Servicing, and Investment Management. The Production segment includes mortgage loan origination, acquisition, and sale activities.