Northern Trust Corp Has $29.39 Million Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Northern Trust Corp decreased its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 22.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 287,740 shares of the real estate investment trust’s stock after selling 84,581 shares during the quarter. Northern Trust Corp’s holdings in PennyMac Financial Services were worth $29,390,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TD Waterhouse Canada Inc. acquired a new stake in shares of PennyMac Financial Services during the fourth quarter valued at about $39,000. Sterling Capital Management LLC boosted its position 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 period. Aquatic Capital Management LLC acquired a new position in PennyMac Financial Services in the 4th quarter valued at approximately $71,000. Parkside Financial Bank & Trust raised its stake 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 valued at $112,000 after acquiring an additional 389 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of PennyMac Financial Services by 15.6% during the fourth quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock worth $158,000 after purchasing an additional 209 shares during the period. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI opened at $97.67 on Friday. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 0.19 and a beta of 1.60. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. PennyMac Financial Services, Inc. has a fifty-two week low of $85.74 and a fifty-two week high of $119.13. The firm’s 50-day simple moving average is $97.70 and its 200 day simple moving average is $101.58.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.99 by ($1.57). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. The company had revenue of $430.90 million for the quarter, compared to analysts’ expectations of $520.42 million. During the same period in the previous year, the firm earned $0.74 EPS. As a group, research 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 company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Wednesday, May 14th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.23%. PennyMac Financial Services’s payout ratio is 18.40%.

Insider Activity

In related news, insider James Follette sold 1,983 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total value of $198,161.19. Following the transaction, the insider now directly owns 10,497 shares of the company’s stock, valued at approximately $1,048,965.21. The trade was a 15.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $101.49, for a total transaction of $1,065,645.00. Following the sale, the chief financial officer now owns 214,997 shares of the company’s stock, valued at $21,820,045.53. This trade represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 55,464 shares of company stock worth $5,621,397 over the last quarter. Insiders own 16.60% of the company’s stock.

Wall Street Analyst Weigh In

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

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. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.