VIRGINIA RETIREMENT SYSTEMS ET Al Purchases Shares of 8,700 PennyMac Financial Services, Inc. $PFSI

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in PennyMac Financial Services, Inc. (NYSE:PFSI) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,700 shares of the real estate investment trust’s stock, valued at approximately $867,000.

A number of other institutional investors have also recently made changes to their positions in PFSI. Lightrock Netherlands B.V. boosted its position in shares of PennyMac Financial Services by 55.1% during the 1st quarter. Lightrock Netherlands B.V. now owns 136,055 shares of the real estate investment trust’s stock valued at $13,643,000 after purchasing an additional 48,312 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of PennyMac Financial Services by 45.9% during the 1st quarter. Bank of New York Mellon Corp now owns 290,235 shares of the real estate investment trust’s stock valued at $29,055,000 after purchasing an additional 91,338 shares in the last quarter. Xponance Inc. bought a new stake in shares of PennyMac Financial Services during the 1st quarter valued at about $202,000. New York State Common Retirement Fund boosted its position in shares of PennyMac Financial Services by 1.2% during the 1st quarter. New York State Common Retirement Fund now owns 71,944 shares of the real estate investment trust’s stock valued at $7,202,000 after purchasing an additional 879 shares in the last quarter. Finally, CWM LLC boosted its position in shares of PennyMac Financial Services by 71.5% during the 1st quarter. CWM LLC now owns 271 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 113 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Stock Performance

Shares of PennyMac Financial Services stock opened at $128.67 on Friday. The company has a market cap of $6.65 billion, a PE ratio of 13.87 and a beta of 1.59. PennyMac Financial Services, Inc. has a 52 week low of $85.74 and a 52 week high of $134.56. The business has a 50 day moving average price of $118.00 and a 200-day moving average price of $104.58. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 3.03.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $3.37 EPS for the quarter, topping the consensus estimate of $2.98 by $0.39. The firm had revenue of $632.90 million during the quarter, compared to the consensus estimate of $573.46 million. PennyMac Financial Services had a return on equity of 11.90% and a net margin of 25.21%.The company’s quarterly revenue was up 53.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.30 earnings per share. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 17th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, November 17th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 16.64%.

Insiders Place Their Bets

In related news, CFO Daniel Stanley Perotti sold 2,925 shares of the stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $116.63, for a total transaction of $341,142.75. Following the completion of the sale, the chief financial officer directly owned 225,250 shares of the company’s stock, valued at approximately $26,270,907.50. This trade represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph F. Mazzella sold 7,107 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $108.16, for a total value of $768,693.12. Following the sale, the director directly owned 86,050 shares of the company’s stock, valued at $9,307,168. The trade was a 7.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,632 shares of company stock valued at $3,998,816. Insiders own 15.80% of the company’s stock.

Wall Street Analyst Weigh In

PFSI has been the topic of several recent research reports. UBS Group increased their price target on PennyMac Financial Services from $110.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, October 10th. Piper Sandler increased their price target on PennyMac Financial Services from $136.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday. Keefe, Bruyette & Woods lowered PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $129.00 price target on the stock. in a report on Tuesday, October 7th. Wells Fargo & Company increased their price target on PennyMac Financial Services from $115.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Zacks Research upgraded PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.50.

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.