HighTower Advisors LLC Has $206,000 Stock Holdings in PennyMac Financial Services, Inc. $PFSI

HighTower Advisors LLC decreased its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 50.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,062 shares of the real estate investment trust’s stock after selling 2,071 shares during the quarter. HighTower Advisors LLC’s holdings in PennyMac Financial Services were worth $206,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Millennium Management LLC increased its stake in shares of PennyMac Financial Services by 104.5% in the fourth quarter. Millennium Management LLC now owns 518,574 shares of the real estate investment trust’s stock valued at $52,967,000 after buying an additional 264,956 shares during the period. Nuveen LLC bought a new stake in PennyMac Financial Services during the 1st quarter valued at $10,550,000. Bank of New York Mellon Corp raised its holdings in shares of PennyMac Financial Services by 45.9% in the 1st quarter. Bank of New York Mellon Corp now owns 290,235 shares of the real estate investment trust’s stock worth $29,055,000 after acquiring an additional 91,338 shares during the last quarter. Picton Mahoney Asset Management raised its stake in shares of PennyMac Financial Services by 12,632.9% in the first quarter. Picton Mahoney Asset Management now owns 89,130 shares of the real estate investment trust’s stock worth $8,922,000 after purchasing an additional 88,430 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in PennyMac Financial Services by 4.5% during the 1st quarter. Invesco Ltd. now owns 1,237,118 shares of the real estate investment trust’s stock valued at $123,848,000 after acquiring an additional 53,660 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock opened at $115.13 on Friday. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 15.97 and a beta of 1.51. The stock’s 50 day simple moving average is $102.37 and its two-hundred day simple moving average is $99.44. PennyMac Financial Services, Inc. has a fifty-two week low of $85.74 and a fifty-two week high of $119.13. The company has a debt-to-equity ratio of 3.03, a quick ratio of 0.34 and a current ratio of 0.34.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, July 22nd. The real estate investment trust reported $1.02 EPS for the quarter, missing the consensus estimate of $3.01 by ($1.99). The firm had revenue of $444.73 million for the quarter, compared to analysts’ expectations of $547.44 million. PennyMac Financial Services had a net margin of 22.00% and a return on equity of 12.18%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.85 EPS. As a group, analysts expect that PennyMac Financial Services, Inc. will post 13.77 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, August 22nd. Investors of record on Wednesday, August 13th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Wednesday, August 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is 16.64%.

Wall Street Analyst Weigh In

PFSI has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped their target price on PennyMac Financial Services from $117.00 to $121.00 and gave the company an “outperform” rating in a report on Wednesday. Piper Sandler decreased their price objective on PennyMac Financial Services from $125.00 to $121.00 and set an “overweight” rating on the stock in a report on Wednesday, July 23rd. Wall Street Zen upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. Barclays cut their target price on PennyMac Financial Services from $124.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, July 8th. Finally, UBS Group decreased their price target on shares of PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Thursday, July 24th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $119.33.

Insider Buying and Selling

In other news, Director Joseph F. Mazzella sold 7,107 shares of PennyMac Financial Services stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $108.16, for a total value of $768,693.12. Following the completion of the transaction, the director owned 86,050 shares of the company’s stock, valued at $9,307,168. The trade was a 7.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Derek Stark sold 4,750 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $109.56, for a total transaction of $520,410.00. Following the completion of the transaction, the insider owned 20,621 shares in the company, valued at approximately $2,259,236.76. This represents a 18.72% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,707 shares of company stock valued at $3,446,223 over the last ninety days. Insiders own 15.80% 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.