MetLife Investment Management LLC Acquires 634 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

MetLife Investment Management LLC raised its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 4.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,058 shares of the real estate investment trust’s stock after purchasing an additional 634 shares during the quarter. MetLife Investment Management LLC’s holdings in PennyMac Financial Services were worth $1,640,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its stake in PennyMac Financial Services by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 453,810 shares of the real estate investment trust’s stock valued at $46,352,000 after acquiring an additional 6,459 shares during the period. JPMorgan Chase & Co. raised its position in shares of PennyMac Financial Services by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock valued at $108,809,000 after purchasing an additional 21,751 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of PennyMac Financial Services by 27.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 27,206 shares of the real estate investment trust’s stock worth $2,779,000 after buying an additional 5,833 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of PennyMac Financial Services during the 4th quarter worth about $518,000. Finally, Barclays PLC grew its stake in PennyMac Financial Services by 505.4% in the 3rd quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust’s stock valued at $6,859,000 after buying an additional 50,238 shares during the last quarter. 57.87% of the stock is owned by institutional investors and hedge funds.

PennyMac Financial Services Price Performance

Shares of NYSE:PFSI opened at $96.06 on Wednesday. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The stock has a market capitalization of $4.94 billion, a PE ratio of 16.45, a PEG ratio of 0.19 and a beta of 1.73. The firm has a 50 day moving average of $98.45 and a 200-day moving average of $102.12. PennyMac Financial Services, Inc. has a 12 month low of $84.93 and a 12 month high of $119.13.

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

PennyMac Financial Services Announces Dividend

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 given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Wednesday, May 14th. PennyMac Financial Services’s dividend payout ratio is presently 18.40%.

Insiders Place Their Bets

In other news, insider James Follette sold 1,983 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $99.93, for a total value of $198,161.19. Following the completion of the transaction, the insider now directly owns 10,497 shares in the company, valued at approximately $1,048,965.21. This represents a 15.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Spector sold 5,000 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $101.28, for a total value of $506,400.00. Following the sale, the chief executive officer now owns 155,604 shares in the company, valued at $15,759,573.12. This represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,464 shares of company stock valued at $4,540,867. 16.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PFSI has been the subject of several research reports. Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price objective for the company in a research report on Tuesday, April 8th. Wells Fargo & Company reduced their price target on PennyMac Financial Services from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, April 24th. Piper Sandler lowered their price objective on PennyMac Financial Services from $130.00 to $128.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Finally, UBS Group dropped their target price on PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $121.17.

About PennyMac Financial Services

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.