Interval Partners LP Acquires 31,123 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Interval Partners LP boosted its position in PennyMac Financial Services, Inc. (NYSE:PFSI) by 379.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 39,320 shares of the real estate investment trust’s stock after purchasing an additional 31,123 shares during the quarter. Interval Partners LP owned approximately 0.08% of PennyMac Financial Services worth $4,016,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. TD Waterhouse Canada Inc. bought a new position in shares of PennyMac Financial Services during the fourth quarter valued at $39,000. Sterling Capital Management LLC boosted its position in PennyMac Financial Services by 601.8% in the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 343 shares during the last quarter. Aquatic Capital Management LLC bought a new position in shares of PennyMac Financial Services during the 4th quarter valued at approximately $71,000. Parkside Financial Bank & Trust boosted its position in shares of PennyMac Financial Services by 54.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 389 shares during the period. Finally, KBC Group NV boosted its position in shares of PennyMac Financial Services by 15.6% in 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.

Insider Activity

In other news, insider Mark Elbaum sold 410 shares of the business’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $102.88, for a total transaction of $42,180.80. Following the completion of the sale, the insider now directly owns 4,207 shares of the company’s stock, valued at approximately $432,816.16. The trade was a 8.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the business’s stock in a transaction on Friday, February 14th. The shares were 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 directly owns 214,997 shares of the company’s stock, valued at $21,820,045.53. This represents a 4.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 55,464 shares of company stock valued at $5,621,397. 16.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of PennyMac Financial Services from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Piper Sandler reduced their price objective on shares of 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. 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 on the stock in a research report on Tuesday, April 8th. Finally, UBS Group reduced 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 analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $121.17.

PennyMac Financial Services Stock Down 0.7%

NYSE PFSI opened at $97.67 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 company has a fifty day moving average of $97.70 and a two-hundred day moving average of $101.59. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 16.72, a PEG ratio of 0.19 and a beta of 1.60. PennyMac Financial Services, Inc. has a 52 week low of $85.74 and a 52 week high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 EPS for the quarter, missing the consensus estimate of $2.99 by ($1.57). The firm had revenue of $430.90 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm earned $0.74 earnings per share. On average, analysts predict that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The business 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 dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Wednesday, May 14th. PennyMac Financial Services’s dividend payout ratio is currently 18.40%.

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.