Creative Planning Buys 6,374 Shares of PennyMac Financial Services, Inc. $PFSI

Creative Planning lifted its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 89.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,495 shares of the real estate investment trust’s stock after purchasing an additional 6,374 shares during the quarter. Creative Planning’s holdings in PennyMac Financial Services were worth $1,345,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PFSI. AlphaQuest LLC boosted its position in PennyMac Financial Services by 4.4% in the first quarter. AlphaQuest LLC now owns 2,587 shares of the real estate investment trust’s stock valued at $259,000 after buying an additional 110 shares in the last quarter. CWM LLC lifted its stake in shares of PennyMac Financial Services by 71.5% in the 1st quarter. CWM LLC now owns 271 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 113 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of PennyMac Financial Services by 4.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 4,687 shares of the real estate investment trust’s stock valued at $467,000 after acquiring an additional 191 shares in the last quarter. ProShare Advisors LLC grew its position in PennyMac Financial Services by 3.6% during the 2nd quarter. ProShare Advisors LLC now owns 5,999 shares of the real estate investment trust’s stock worth $598,000 after acquiring an additional 211 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in PennyMac Financial Services by 1.4% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 19,753 shares of the real estate investment trust’s stock worth $1,968,000 after purchasing an additional 281 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Financial Services Stock Down 1.1%

Shares of NYSE PFSI opened at $134.57 on Friday. The company’s 50 day moving average price is $124.93 and its 200-day moving average price is $110.52. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.36 and a current ratio of 0.36. PennyMac Financial Services, Inc. has a 52-week low of $85.74 and a 52-week high of $136.62. The company has a market capitalization of $6.99 billion, a P/E ratio of 14.50 and a beta of 1.56.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share for the quarter, topping the consensus estimate of $2.98 by $0.39. The company had revenue of $632.90 million during the quarter, compared to analysts’ expectations of $573.46 million. PennyMac Financial Services had a net margin of 25.21% and a return on equity of 11.69%. PennyMac Financial Services’s revenue for the quarter was up 53.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.30 earnings per share. Equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.20 annualized dividend and a dividend yield of 0.9%. PennyMac Financial Services’s dividend payout ratio (DPR) is 12.93%.

Insiders Place Their Bets

In other PennyMac Financial Services news, Director Doug Jones sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $132.63, for a total value of $2,652,600.00. Following the transaction, the director directly owned 430,000 shares of the company’s stock, valued at approximately $57,030,900. The trade was a 4.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Anne Mccallion sold 27,771 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $131.55, for a total transaction of $3,653,275.05. Following the sale, the director directly owned 1,547 shares of the company’s stock, valued at approximately $203,507.85. This trade represents a 94.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 218,374 shares of company stock worth $28,024,891 in the last quarter. 15.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PFSI shares. UBS Group lifted their price target on PennyMac Financial Services from $135.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Wells Fargo & Company lifted their target price on shares of PennyMac Financial Services from $115.00 to $135.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Keefe, Bruyette & Woods upped their price target on shares of PennyMac Financial Services from $129.00 to $138.00 and gave the company a “market perform” rating in a research report on Friday, October 24th. Zacks Research raised shares of PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of PennyMac Financial Services in a research note on Friday, October 31st. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $138.67.

About PennyMac Financial Services

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.