Harel Insurance Investments & Financial Services Ltd. Sells 5,000 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Harel Insurance Investments & Financial Services Ltd. lessened its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 55.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,000 shares of the real estate investment trust’s stock after selling 5,000 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in PennyMac Financial Services were worth $894,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in PFSI. BlackRock Inc. lifted its position in shares of PennyMac Financial Services by 28.3% during the 4th quarter. BlackRock Inc. now owns 3,726,371 shares of the real estate investment trust’s stock valued at $244,523,000 after buying an additional 822,242 shares during the last quarter. Senvest Management LLC lifted its position in shares of PennyMac Financial Services by 130.7% during the 4th quarter. Senvest Management LLC now owns 1,341,040 shares of the real estate investment trust’s stock valued at $87,999,000 after buying an additional 759,697 shares during the last quarter. Norges Bank purchased a new position in shares of PennyMac Financial Services during the 4th quarter valued at $29,185,000. Morgan Stanley lifted its position in shares of PennyMac Financial Services by 53.5% during the 4th quarter. Morgan Stanley now owns 551,157 shares of the real estate investment trust’s stock valued at $36,166,000 after buying an additional 192,089 shares during the last quarter. Finally, Beach Point Capital Management LP purchased a new position in shares of PennyMac Financial Services during the 4th quarter valued at $9,531,000. Hedge funds and other institutional investors own 51.72% of the company’s stock.

NYSE:PFSI opened at $59.53 on Tuesday. The business’s 50-day moving average price is $61.73 and its two-hundred day moving average price is $60.47. PennyMac Financial Services, Inc. has a twelve month low of $26.39 and a twelve month high of $70.99. The stock has a market cap of $4.12 billion, a P/E ratio of 3.50 and a beta of 1.22. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 2.76.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Thursday, February 4th. The real estate investment trust reported $5.97 earnings per share for the quarter, beating the consensus estimate of $5.92 by $0.05. PennyMac Financial Services had a return on equity of 54.29% and a net margin of 42.70%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.06 billion. On average, equities research analysts expect that PennyMac Financial Services, Inc. will post 20.98 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 25th. Stockholders of record on Friday, February 12th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, February 11th. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.12. This represents a $0.80 annualized dividend and a dividend yield of 1.34%. PennyMac Financial Services’s dividend payout ratio is 16.36%.

In other news, CEO David Spector sold 15,000 shares of the stock in a transaction dated Tuesday, February 16th. The stock was sold at an average price of $66.84, for a total transaction of $1,002,600.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Kurland Family Investments, Ll sold 41,750 shares of the stock in a transaction dated Wednesday, February 10th. The shares were sold at an average price of $62.76, for a total value of $2,620,230.00. Following the transaction, the insider now owns 7,547,970 shares in the company, valued at $473,710,597.20. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 1,166,474 shares of company stock worth $72,939,758 and have sold 309,960 shares worth $19,200,113. 21.48% of the stock is currently owned by corporate insiders.

A number of brokerages have recently commented on PFSI. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $70.00 price target (down previously from $75.00) on shares of PennyMac Financial Services in a research report on Thursday, March 25th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $73.00 price objective (down previously from $77.00) on shares of PennyMac Financial Services in a report on Tuesday, April 13th. Piper Sandler increased their price objective on PennyMac Financial Services from $90.00 to $109.00 and gave the stock an “overweight” rating in a report on Friday, February 5th. Credit Suisse Group increased their price objective on PennyMac Financial Services from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, February 8th. Finally, Zacks Investment Research raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Thursday, April 29th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. PennyMac Financial Services currently has an average rating of “Buy” and an average price target of $82.38.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.

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Institutional Ownership by Quarter for PennyMac Financial Services (NYSE:PFSI)

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