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

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

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its holdings in shares of PennyMac Financial Services by 16.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,776 shares of the real estate investment trust’s stock valued at $76,000 after purchasing an additional 250 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in shares of PennyMac Financial Services by 13.7% in the first quarter. Neuberger Berman Group LLC now owns 3,914 shares of the real estate investment trust’s stock valued at $208,000 after purchasing an additional 472 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of PennyMac Financial Services by 19.9% in the first quarter. Canada Pension Plan Investment Board now owns 2,932 shares of the real estate investment trust’s stock valued at $156,000 after purchasing an additional 486 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of PennyMac Financial Services by 6.4% in the third quarter. Envestnet Asset Management Inc. now owns 9,515 shares of the real estate investment trust’s stock valued at $408,000 after purchasing an additional 575 shares during the last quarter. Finally, Wipfli Financial Advisors LLC acquired a new stake in shares of PennyMac Financial Services in the third quarter valued at approximately $44,000. 67.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Transactions at PennyMac Financial Services

In other news, CEO David Spector sold 15,000 shares of PennyMac Financial Services stock in a transaction on Tuesday, March 7th. The stock was sold at an average price of $61.69, for a total transaction of $925,350.00. Following the completion of the sale, the chief executive officer now owns 435,604 shares of the company’s stock, valued at $26,872,410.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Joseph F. Mazzella sold 40,000 shares of the business’s stock in a transaction dated Wednesday, December 14th. The stock was sold at an average price of $58.67, for a total value of $2,346,800.00. Following the completion of the transaction, the director now owns 177,031 shares of the company’s stock, valued at $10,386,408.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO David Spector sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $61.69, for a total value of $925,350.00. Following the completion of the transaction, the chief executive officer now directly owns 435,604 shares of the company’s stock, valued at approximately $26,872,410.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 150,714 shares of company stock valued at $9,294,637. 18.00% of the stock is currently owned by corporate insiders.

PennyMac Financial Services Trading Down 0.2 %

PFSI stock opened at $57.71 on Tuesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.55 and a quick ratio of 0.55. The company has a fifty day moving average price of $63.22 and a two-hundred day moving average price of $56.32. PennyMac Financial Services, Inc. has a one year low of $38.53 and a one year high of $73.79. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 6.88 and a beta of 1.49.

PennyMac Financial Services (NYSE:PFSI – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The real estate investment trust reported $0.89 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $340.45 million during the quarter, compared to analysts’ expectations of $326.70 million. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 6.76 EPS for the current year.

PennyMac Financial Services Dividend Announcement

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

PennyMac Financial Services Company 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.