Greenland Capital Management LP Sells 1,120 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Greenland Capital Management LP lessened its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 21.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,000 shares of the real estate investment trust’s stock after selling 1,120 shares during the period. Greenland Capital Management LP’s holdings in PennyMac Financial Services were worth $409,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in PFSI. Norges Bank bought a new stake in shares of PennyMac Financial Services in the 4th quarter worth approximately $38,004,000. Vanguard Group Inc. raised its stake in shares of PennyMac Financial Services by 7.4% in the fourth quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust’s stock valued at $294,835,000 after purchasing an additional 199,667 shares in the last quarter. Boston Partners lifted its position in PennyMac Financial Services by 50.1% in the fourth quarter. Boston Partners now owns 497,080 shares of the real estate investment trust’s stock worth $51,313,000 after purchasing an additional 165,997 shares during the period. FMR LLC boosted its stake in PennyMac Financial Services by 11.9% during the fourth quarter. FMR LLC now owns 1,305,851 shares of the real estate investment trust’s stock worth $133,380,000 after buying an additional 138,853 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in PennyMac Financial Services by 48.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 320,250 shares of the real estate investment trust’s stock valued at $32,710,000 after buying an additional 104,022 shares during the period. 57.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PFSI shares. Piper Sandler reduced their price objective on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Keefe, Bruyette & Woods raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price objective on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.67.

PennyMac Financial Services Price Performance

NYSE:PFSI opened at $92.05 on Wednesday. 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 firm has a market cap of $4.73 billion, a PE ratio of 15.76, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73. PennyMac Financial Services, Inc. has a 12 month low of $83.03 and a 12 month high of $119.13. The company’s 50-day moving average price is $101.17 and its two-hundred day moving average price is $103.74.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. On average, equities analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.30%. PennyMac Financial Services’s dividend payout ratio (DPR) is 20.55%.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 10,500 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $101.49, for a total value of $1,065,645.00. Following the transaction, the chief financial officer now directly owns 214,997 shares in the company, valued at approximately $21,820,045.53. This trade represents a 4.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Spector sold 6,839 shares of PennyMac Financial Services stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $102.12, for a total value of $698,398.68. Following the completion of the sale, the chief executive officer now directly owns 635,554 shares of the company’s stock, valued at $64,902,774.48. This trade represents a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,464 shares of company stock worth $4,540,867. 16.60% of the stock is currently owned by corporate insiders.

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.