Arizona State Retirement System Has $1.05 Million Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Arizona State Retirement System lowered its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,851 shares of the real estate investment trust’s stock after selling 231 shares during the quarter. Arizona State Retirement System’s holdings in PennyMac Financial Services were worth $1,047,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC boosted its holdings in PennyMac Financial Services by 12.0% during the 4th quarter. MorganRosel Wealth Management LLC now owns 10,575 shares of the real estate investment trust’s stock worth $935,000 after acquiring an additional 1,131 shares during the last quarter. Denali Advisors LLC boosted its holdings in PennyMac Financial Services by 18.1% during the 4th quarter. Denali Advisors LLC now owns 14,900 shares of the real estate investment trust’s stock worth $1,317,000 after acquiring an additional 2,283 shares during the last quarter. Saxon Interests Inc. purchased a new position in PennyMac Financial Services during the 4th quarter worth $208,000. Contravisory Investment Management Inc. purchased a new position in PennyMac Financial Services during the 4th quarter worth $252,000. Finally, Handelsinvest Investeringsforvaltning purchased a new position in PennyMac Financial Services during the 4th quarter worth $285,000. 57.87% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $90.72, for a total transaction of $907,200.00. Following the completion of the transaction, the chief executive officer now owns 250,604 shares of the company’s stock, valued at approximately $22,734,794.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other PennyMac Financial Services news, insider James Follette sold 2,617 shares of PennyMac Financial Services stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total transaction of $225,690.08. Following the completion of the transaction, the insider now owns 7,257 shares of the company’s stock, valued at approximately $625,843.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $90.72, for a total value of $907,200.00. Following the transaction, the chief executive officer now directly owns 250,604 shares of the company’s stock, valued at approximately $22,734,794.88. The disclosure for this sale can be found here. Insiders sold 87,802 shares of company stock valued at $7,666,108 in the last quarter. 17.40% of the stock is currently owned by corporate insiders.

PennyMac Financial Services Trading Down 0.9 %

Shares of PennyMac Financial Services stock opened at $87.11 on Tuesday. PennyMac Financial Services, Inc. has a 52-week low of $56.16 and a 52-week high of $94.78. The stock’s 50-day simple moving average is $88.03 and its 200 day simple moving average is $81.86. The stock has a market capitalization of $4.39 billion, a P/E ratio of 32.14, a P/E/G ratio of 0.59 and a beta of 1.67. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.37 and a current ratio of 0.37.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, February 1st. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.75. PennyMac Financial Services had a return on equity of 7.69% and a net margin of 10.32%. The business had revenue of $361.94 million for the quarter, compared to analysts’ expectations of $413.35 million. As a group, research analysts anticipate that PennyMac Financial Services, Inc. will post 10.19 EPS for the current year.

PennyMac Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Monday, February 12th. PennyMac Financial Services’s payout ratio is presently 29.52%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. StockNews.com raised shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Barclays lifted their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Wedbush lifted their target price on PennyMac Financial Services from $85.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 2nd. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $100.00 to $105.00 in a research note on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft began coverage on PennyMac Financial Services in a research note on Wednesday, January 10th. They set a “buy” rating and a $115.00 target price on the stock. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.13.

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.