Federated Hermes Inc. Has $5.33 Million Stock Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Federated Hermes Inc. increased its position in PennyMac Financial Services, Inc. (NYSE:PFSI) by 40.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 60,346 shares of the real estate investment trust’s stock after purchasing an additional 17,245 shares during the quarter. Federated Hermes Inc.’s holdings in PennyMac Financial Services were worth $5,333,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. bought a new stake in PennyMac Financial Services in the third quarter valued at approximately $17,242,000. Invesco Ltd. raised its stake in PennyMac Financial Services by 47.6% in the 3rd quarter. Invesco Ltd. now owns 490,297 shares of the real estate investment trust’s stock valued at $32,654,000 after acquiring an additional 158,181 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in PennyMac Financial Services during the 3rd quarter valued at $3,657,000. Qube Research & Technologies Ltd bought a new position in PennyMac Financial Services during the third quarter worth $3,370,000. Finally, QRG Capital Management Inc. acquired a new position in shares of PennyMac Financial Services in the third quarter valued at $2,041,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PFSI shares. Wedbush restated an “outperform” rating and set a $110.00 target price on shares of PennyMac Financial Services in a research note on Thursday. Barclays boosted their price objective on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $100.00 to $105.00 in a research note on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $98.38.

PennyMac Financial Services Stock Performance

NYSE PFSI opened at $86.20 on Friday. PennyMac Financial Services, Inc. has a 1 year low of $56.16 and a 1 year high of $94.78. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of 29.93, a P/E/G ratio of 0.61 and a beta of 1.67. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 1.90. The firm’s 50 day simple moving average is $87.95 and its 200 day simple moving average is $82.89.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.14. The company had revenue of $305.66 million during the quarter, compared to analysts’ expectations of $422.87 million. PennyMac Financial Services had a return on equity of 10.51% and a net margin of 10.94%. As a group, research analysts expect that PennyMac Financial Services, Inc. will post 10.41 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend was Monday, February 12th. PennyMac Financial Services’s dividend payout ratio is 27.78%.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 15,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $87.18, for a total transaction of $1,307,700.00. Following the sale, the chief executive officer now owns 270,604 shares of the company’s stock, valued at $23,591,256.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other PennyMac Financial Services news, CEO David Spector sold 15,000 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $87.18, for a total value of $1,307,700.00. Following the completion of the transaction, the chief executive officer now directly owns 270,604 shares in the company, valued at $23,591,256.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Doug Jones sold 17,079 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $86.10, for a total value of $1,470,501.90. Following the sale, the director now owns 23,892 shares in the company, valued at $2,057,101.20. The disclosure for this sale can be found here. Insiders sold a total of 87,802 shares of company stock valued at $7,666,108 in the last quarter. Insiders own 17.40% of the company’s stock.

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.