Edgestream Partners L.P. Grows Stake in PennyMac Financial Services, Inc. (NYSE:PFSI)

Edgestream Partners L.P. boosted its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 349.5% during the 1st quarter, HoldingsChannel reports. The firm owned 23,774 shares of the real estate investment trust’s stock after buying an additional 18,485 shares during the period. Edgestream Partners L.P.’s holdings in PennyMac Financial Services were worth $2,166,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its position in PennyMac Financial Services by 1,730.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 13,676 shares of the real estate investment trust’s stock valued at $911,000 after acquiring an additional 12,929 shares in the last quarter. Saxon Interests Inc. bought a new stake in PennyMac Financial Services during the 4th quarter valued at $208,000. Denali Advisors LLC boosted its position in shares of PennyMac Financial Services by 18.1% in the 4th quarter. Denali Advisors LLC now owns 14,900 shares of the real estate investment trust’s stock worth $1,317,000 after purchasing an additional 2,283 shares in the last quarter. MorganRosel Wealth Management LLC boosted its position in shares of PennyMac Financial Services by 12.0% in the 4th quarter. MorganRosel Wealth Management LLC now owns 10,575 shares of the real estate investment trust’s stock worth $935,000 after purchasing an additional 1,131 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in PennyMac Financial Services by 14.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,214 shares of the real estate investment trust’s stock worth $814,000 after acquiring an additional 1,138 shares during the period. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PennyMac Financial Services news, Director Doug Jones sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $91.49, for a total transaction of $2,744,700.00. Following the completion of the sale, the director now directly owns 480,000 shares in the company, valued at approximately $43,915,200. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Doug Jones sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $91.49, for a total value of $2,744,700.00. Following the completion of the sale, the director now owns 480,000 shares of the company’s stock, valued at $43,915,200. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David Spector sold 10,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $90.56, for a total value of $905,600.00. Following the completion of the sale, the chief executive officer now directly owns 230,604 shares of the company’s stock, valued at approximately $20,883,498.24. The disclosure for this sale can be found here. In the last three months, insiders sold 87,865 shares of company stock worth $8,045,169. Corporate insiders own 16.60% of the company’s stock.

PennyMac Financial Services Price Performance

Shares of PennyMac Financial Services stock traded down $1.88 on Monday, hitting $99.21. The company’s stock had a trading volume of 494,465 shares, compared to its average volume of 240,024. 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 1 year low of $62.15 and a 1 year high of $105.94. The firm has a fifty day moving average price of $93.20 and a 200-day moving average price of $89.84. The company has a market capitalization of $5.05 billion, a price-to-earnings ratio of 35.10, a price-to-earnings-growth ratio of 0.65 and a beta of 1.72.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $422.87 million. As a group, sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 10.55 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, May 13th. This represents a $0.80 annualized dividend and a yield of 0.81%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 27.78%.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wedbush reaffirmed an “outperform” rating and set a $110.00 price target on shares of PennyMac Financial Services in a research report on Thursday, April 25th. Keefe, Bruyette & Woods lowered PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price objective for the company. in a research note on Monday. StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Barclays lifted their price objective on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $102.33.

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.