Picton Mahoney Asset Management Has $71,000 Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Picton Mahoney Asset Management lessened its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 99.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 700 shares of the real estate investment trust’s stock after selling 106,239 shares during the quarter. Picton Mahoney Asset Management’s holdings in PennyMac Financial Services were worth $71,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PFSI. GSA Capital Partners LLP acquired a new position in shares of PennyMac Financial Services in the third quarter worth $347,000. KBC Group NV grew its stake in PennyMac Financial Services by 20.3% in the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 226 shares in the last quarter. Intech Investment Management LLC acquired a new position in PennyMac Financial Services in the 3rd quarter worth about $956,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of PennyMac Financial Services during the 3rd quarter worth about $24,644,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of PennyMac Financial Services by 7.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust’s stock valued at $50,985,000 after buying an additional 31,035 shares during the last quarter. Hedge funds and other institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Trading Up 2.6 %

NYSE:PFSI opened at $97.11 on Monday. The company’s 50 day moving average is $103.10 and its 200-day moving average is $104.99. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22. PennyMac Financial Services, Inc. has a 12 month low of $83.03 and a 12 month high of $119.13. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 0.19 and a beta of 1.90.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.24%. PennyMac Financial Services’s dividend payout ratio is presently 20.55%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Piper Sandler dropped their price objective on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. Keefe, Bruyette & Woods dropped their price target on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $122.17.

Insider Activity at PennyMac Financial Services

In related news, CEO David Spector sold 61,120 shares of PennyMac Financial Services stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $101.72, for a total transaction of $6,217,126.40. Following the sale, the chief executive officer now directly owns 634,612 shares of the company’s stock, valued at $64,552,732.64. This trade represents a 8.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Daniel Stanley Perotti sold 16,481 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $101.56, for a total value of $1,673,810.36. Following the completion of the transaction, the chief financial officer now directly owns 37,501 shares of the company’s stock, valued at approximately $3,808,601.56. This trade represents a 30.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 150,697 shares of company stock worth $15,327,924 in the last 90 days. 16.60% of the stock is owned by company insiders.

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.