Quantitative Systematic Strategies LLC acquired a new stake in shares of PennyMac Financial Services Inc (NYSE:PFSI) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 9,845 shares of the real estate investment trust’s stock, valued at approximately $223,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Hennessy Advisors Inc. acquired a new position in shares of PennyMac Financial Services during the 1st quarter valued at about $3,667,000. Sterling Capital Management LLC bought a new stake in PennyMac Financial Services during the 4th quarter valued at approximately $615,000. MetLife Investment Advisors LLC bought a new stake in PennyMac Financial Services during the 4th quarter valued at approximately $163,000. Millennium Management LLC bought a new stake in PennyMac Financial Services during the 4th quarter valued at approximately $566,000. Finally, TIAA CREF Investment Management LLC boosted its stake in PennyMac Financial Services by 58.8% during the 4th quarter. TIAA CREF Investment Management LLC now owns 64,993 shares of the real estate investment trust’s stock valued at $1,453,000 after purchasing an additional 24,071 shares during the period. 91.82% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:PFSI opened at $20.45 on Friday. PennyMac Financial Services Inc has a twelve month low of $16.00 and a twelve month high of $25.20. The company has a market cap of $492.68 million, a P/E ratio of 8.28, a price-to-earnings-growth ratio of 0.99 and a beta of 0.58. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.30.
PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Thursday, May 3rd. The real estate investment trust reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.06). PennyMac Financial Services had a net margin of 10.77% and a return on equity of 3.67%. The business had revenue of $238.20 million for the quarter, compared to the consensus estimate of $234.60 million. equities research analysts forecast that PennyMac Financial Services Inc will post 2.75 earnings per share for the current fiscal year.
In other PennyMac Financial Services news, CAO Gregory L. Hendry sold 1,297 shares of the firm’s stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $22.36, for a total value of $29,000.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider David M. Walker sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $20.61, for a total value of $206,100.00. The disclosure for this sale can be found here. Insiders sold a total of 417,883 shares of company stock valued at $9,498,867 in the last quarter. Corporate insiders own 45.64% of the company’s stock.
PFSI has been the subject of several recent analyst reports. Wedbush initiated coverage on PennyMac Financial Services in a research note on Friday, February 16th. They set an “outperform” rating and a $30.00 target price for the company. Zacks Investment Research downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Tuesday, February 13th. Wells Fargo initiated coverage on PennyMac Financial Services in a research note on Wednesday, April 4th. They set an “outperform” rating and a $28.00 target price for the company. Barclays set a $27.00 target price on PennyMac Financial Services and gave the company a “buy” rating in a research note on Sunday, February 11th. Finally, ValuEngine upgraded PennyMac Financial Services from a “hold” rating to a “buy” rating in a research note on Tuesday, May 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $25.75.
PennyMac Financial Services Profile
PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment is involved in the origination, acquisition, and sale of mortgage loans.
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