Dakota Wealth Management Acquires 1,083 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Dakota Wealth Management lifted its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSIFree Report) by 5.4% in the first quarter, Holdings Channel.com reports. The fund owned 21,230 shares of the real estate investment trust’s stock after purchasing an additional 1,083 shares during the period. Dakota Wealth Management’s holdings in PennyMac Financial Services were worth $1,934,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PFSI. Hexagon Capital Partners LLC raised its holdings in PennyMac Financial Services by 128.9% in the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 205 shares in the last quarter. Caxton Associates LP raised its holdings in PennyMac Financial Services by 3.6% in the third quarter. Caxton Associates LP now owns 5,874 shares of the real estate investment trust’s stock worth $391,000 after purchasing an additional 206 shares in the last quarter. MorganRosel Wealth Management LLC raised its holdings in PennyMac Financial Services by 2.2% in the first quarter. MorganRosel Wealth Management LLC now owns 10,811 shares of the real estate investment trust’s stock worth $985,000 after purchasing an additional 236 shares in the last quarter. USA Financial Formulas bought a new position in PennyMac Financial Services in the fourth quarter worth $25,000. Finally, Teacher Retirement System of Texas raised its holdings in PennyMac Financial Services by 4.1% in the third quarter. Teacher Retirement System of Texas now owns 9,774 shares of the real estate investment trust’s stock worth $651,000 after purchasing an additional 385 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI traded up $0.69 during trading on Monday, hitting $94.07. The company had a trading volume of 169,359 shares, compared to its average volume of 239,660. The stock has a 50 day simple moving average of $89.40 and a 200 day simple moving average of $86.07. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.39 and a current ratio of 0.39. PennyMac Financial Services, Inc. has a 12 month low of $58.65 and a 12 month high of $94.78. The firm has a market capitalization of $4.79 billion, a P/E ratio of 32.66, a price-to-earnings-growth ratio of 0.61 and a beta of 1.68.

PennyMac Financial Services (NYSE:PFSIGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, topping the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. The firm had revenue of $305.66 million for the quarter, compared to the consensus estimate of $422.87 million. As a group, analysts anticipate that PennyMac Financial Services, Inc. will post 10.55 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Monday, May 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 27.78%.

Insider Transactions at PennyMac Financial Services

In related news, insider James Follette sold 2,617 shares of PennyMac Financial Services stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total transaction of $225,690.08. Following the sale, the insider now owns 7,257 shares of the company’s stock, valued at approximately $625,843.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider James Follette sold 2,617 shares of PennyMac Financial Services stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total transaction of $225,690.08. Following the sale, the insider now owns 7,257 shares of the company’s stock, valued at approximately $625,843.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Spector sold 15,000 shares of PennyMac Financial Services stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 270,604 shares in the company, valued at approximately $23,591,256.72. The disclosure for this sale can be found here. Insiders have sold 114,267 shares of company stock valued at $10,131,477 over the last quarter. 16.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barclays increased 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. Wedbush reissued an “outperform” rating and issued a $110.00 target price on shares of PennyMac Financial Services in a research note on Thursday, April 25th. Keefe, Bruyette & Woods cut their target price on PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Deutsche Bank Aktiengesellschaft dropped 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, April 25th. Finally, StockNews.com raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Monday, May 13th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.75.

Get Our Latest Stock Report on PFSI

About PennyMac Financial Services

(Free Report)

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.

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Want to see what other hedge funds are holding PFSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PennyMac Financial Services, Inc. (NYSE:PFSIFree Report).

Institutional Ownership by Quarter for PennyMac Financial Services (NYSE:PFSI)

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