CANADA LIFE ASSURANCE Co Trims Stock Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

CANADA LIFE ASSURANCE Co decreased its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 3.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,479 shares of the real estate investment trust’s stock after selling 600 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in PennyMac Financial Services were worth $1,682,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sterling Capital Management LLC grew its stake in PennyMac Financial Services by 601.8% during the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 343 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of PennyMac Financial Services by 54.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 389 shares during the last quarter. KBC Group NV increased its holdings in shares of PennyMac Financial Services by 15.6% in the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock valued at $158,000 after acquiring an additional 209 shares during the period. Polymer Capital Management US LLC purchased a new stake in PennyMac Financial Services in the 4th quarter valued at $217,000. Finally, Cibc World Markets Corp acquired a new stake in PennyMac Financial Services during the 4th quarter worth $255,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

Wall Street Analysts Forecast Growth

PFSI has been the topic of a number of recent research reports. Piper Sandler reduced their target price on shares of PennyMac Financial Services from $130.00 to $128.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company lowered their target price on PennyMac Financial Services from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price target for the company in a research note on Tuesday, April 8th. Finally, UBS Group lowered their price objective on shares of PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $121.17.

PennyMac Financial Services Stock Down 1.5 %

Shares of NYSE PFSI opened at $93.65 on Monday. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22. The firm has a 50-day moving average price of $98.69 and a 200 day moving average price of $102.24. PennyMac Financial Services, Inc. has a 52 week low of $84.93 and a 52 week high of $119.13. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 16.04, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share for the quarter, missing analysts’ consensus estimates of $2.99 by ($1.57). The firm had revenue of $430.90 million during the quarter, compared to analyst estimates of $520.42 million. PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. During the same quarter in the prior year, the company earned $0.74 EPS. Equities research analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Wednesday, May 14th will be issued a dividend of $0.30 per share. The ex-dividend date is Wednesday, May 14th. This represents a $1.20 annualized dividend and a yield of 1.28%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 18.40%.

Insiders Place Their Bets

In other news, insider Mark Elbaum sold 410 shares of the business’s stock in a transaction on Friday, April 4th. The stock was sold at an average price of $102.88, for a total value of $42,180.80. Following the completion of the transaction, the insider now directly owns 4,207 shares of the company’s stock, valued at $432,816.16. The trade was a 8.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider James Follette sold 1,983 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total value of $198,161.19. Following the sale, the insider now directly owns 10,497 shares in the company, valued at approximately $1,048,965.21. The trade was a 15.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,464 shares of company stock worth $4,540,867. Insiders own 16.60% of the company’s stock.

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.