Rhumbline Advisers decreased its stake in shares of PennyMac Financial Services Inc (NYSE:PFSI) by 13.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,855 shares of the real estate investment trust’s stock after selling 2,502 shares during the period. Rhumbline Advisers’ holdings in PennyMac Financial Services were worth $354,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of PFSI. Mangrove Partners bought a new position in PennyMac Financial Services during the third quarter valued at approximately $12,760,000. Dimensional Fund Advisors LP increased its holdings in PennyMac Financial Services by 17.7% during the third quarter. Dimensional Fund Advisors LP now owns 625,742 shares of the real estate investment trust’s stock valued at $11,138,000 after buying an additional 93,918 shares during the last quarter. Wells Fargo & Company MN increased its holdings in PennyMac Financial Services by 59.9% during the fourth quarter. Wells Fargo & Company MN now owns 124,748 shares of the real estate investment trust’s stock valued at $2,787,000 after buying an additional 46,723 shares during the last quarter. Bessemer Group Inc. purchased a new stake in PennyMac Financial Services during the fourth quarter valued at approximately $590,000. Finally, First Trust Advisors LP purchased a new stake in PennyMac Financial Services during the third quarter valued at approximately $294,000. Institutional investors own 93.29% of the company’s stock.
Shares of PFSI stock opened at $23.15 on Monday. PennyMac Financial Services Inc has a 12 month low of $15.65 and a 12 month high of $25.20. The company has a market cap of $544.70, a price-to-earnings ratio of 10.52, a price-to-earnings-growth ratio of 1.45 and a beta of 0.57. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.17 and a quick ratio of 0.17.
A number of analysts have commented on the stock. Wells Fargo assumed coverage on shares of PennyMac Financial Services in a report on Wednesday, April 4th. They set an “outperform” rating and a $28.00 target price for the company. Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a report on Monday, January 8th. Zacks Investment Research cut shares of PennyMac Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 5th. Barclays set a $27.00 target price on shares of PennyMac Financial Services and gave the company a “buy” rating in a report on Sunday, February 11th. Finally, Wedbush assumed coverage on shares of PennyMac Financial Services in a report on Friday, February 16th. They set an “outperform” rating and a $30.00 target price for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $27.75.
In other news, CAO Gregory L. Hendry sold 1,297 shares of the stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $22.36, for a total value of $29,000.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew Botein sold 10,000 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $22.71, for a total transaction of $227,100.00. Following the completion of the sale, the director now directly owns 34,741 shares of the company’s stock, valued at $788,968.11. The disclosure for this sale can be found here. Over the last three months, insiders sold 335,318 shares of company stock valued at $7,716,650. Corporate insiders own 45.64% of the company’s stock.
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About PennyMac Financial Services
PennyMac Financial Services, Inc (PFSI) is a financial services company. The Company is focused on the production and servicing of the United States residential mortgage loans and the management of investments related to the United States mortgage market. The Company operates through three segments: loan production, loan servicing and investment management.
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