Dakota Wealth Management Buys 374 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Dakota Wealth Management increased its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,578 shares of the real estate investment trust’s stock after buying an additional 374 shares during the period. Dakota Wealth Management’s holdings in PennyMac Financial Services were worth $1,489,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. purchased a new stake in PennyMac Financial Services in the third quarter worth about $37,000. Blue Trust Inc. grew its holdings in PennyMac Financial Services by 59.5% in the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 262 shares during the period. KBC Group NV grew its holdings in PennyMac Financial Services by 20.3% in the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after purchasing an additional 226 shares during the period. Quantbot Technologies LP grew its holdings in PennyMac Financial Services by 23.7% in the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 290 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in PennyMac Financial Services in the third quarter worth about $203,000. 57.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on PFSI shares. Piper Sandler upped their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Barclays increased their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Wedbush reiterated an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods cut their price target on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a report on Tuesday, December 10th. Finally, Wells Fargo & Company increased their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.50.

Insiders Place Their Bets

In other PennyMac Financial Services news, CAO Gregory L. Hendry sold 3,032 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total value of $309,536.88. Following the transaction, the chief accounting officer now directly owns 48,040 shares in the company, valued at approximately $4,904,403.60. This trade represents a 5.94 % decrease in their ownership of the stock. The transaction 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 stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $99.38, for a total transaction of $496,900.00. Following the completion of the transaction, the chief executive officer now owns 165,604 shares in the company, valued at $16,457,725.52. The trade was a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,844 shares of company stock worth $15,079,791. Company insiders own 16.60% of the company’s stock.

PennyMac Financial Services Trading Down 0.4 %

Shares of PFSI stock opened at $109.18 on Friday. PennyMac Financial Services, Inc. has a 12-month low of $83.03 and a 12-month high of $119.13. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75. The firm’s 50 day moving average is $103.76 and its 200 day moving average is $103.78. The stock has a market capitalization of $5.60 billion, a P/E ratio of 34.66, a P/E/G ratio of 0.20 and a beta of 1.78.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The company had revenue of $411.83 million during the quarter, compared to analysts’ expectations of $513.12 million. During the same quarter in the prior year, the business posted $1.77 EPS. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. Research analysts expect that PennyMac Financial Services, Inc. will post 11.76 earnings per share for the current year.

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.