Russell Investments Group Ltd. Reduces Stock Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) (2024)

Russell Investments Group Ltd. decreased its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 81.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 10,063 shares of the real estate investment trust's stock after selling 45,442 shares during the period. Russell Investments Group Ltd.'s holdings in PennyMac Financial Services were worth $889,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Federated Hermes Inc. boosted its stake in PennyMac Financial Services by 40.0% during the 4th quarter. Federated Hermes Inc. now owns 60,346 shares of the real estate investment trust's stock valued at $5,333,000 after purchasing an additional 17,245 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of PennyMac Financial Services during the third quarter valued at about $3,370,000. Graham Capital Management L.P. bought a new stake in shares of PennyMac Financial Services in the third quarter valued at about $1,237,000. Adage Capital Partners GP L.L.C. bought a new position in PennyMac Financial Services during the third quarter valued at about $3,657,000. Finally, Invesco Ltd. raised its holdings in PennyMac Financial Services by 47.6% in the 3rd quarter. Invesco Ltd. now owns 490,297 shares of the real estate investment trust's stock valued at $32,654,000 after acquiring an additional 158,181 shares in the last quarter. Institutional investors and hedge funds own 57.87% of the company's stock.

PennyMac Financial Services Price Performance

PennyMac Financial Services stock traded up $0.69 on Monday, reaching $94.07. The company's stock had a trading volume of 169,359 shares, compared to its average volume of 239,660. The business's fifty day moving average price is $89.40 and its 200 day moving average price is $86.07. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.39 and a current ratio of 0.39. The company has a market cap of $4.79 billion, a price-to-earnings ratio of 32.66, a PEG ratio of 0.61 and a beta of 1.68. PennyMac Financial Services, Inc. has a twelve month low of $58.65 and a twelve month high of $94.78.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, beating the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. The business had revenue of $305.66 million for the quarter, compared to analysts' expectations of $422.87 million. Equities analysts expect that PennyMac Financial Services, Inc. will post 10.55 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Tuesday, May 14th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.80 annualized dividend and a yield of 0.85%. PennyMac Financial Services's dividend payout ratio is currently 27.78%.

Insider Buying and Selling at PennyMac Financial Services

In other news, CEO David Spector sold 15,000 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $87.18, for a total value of $1,307,700.00. Following the transaction, the chief executive officer now owns 270,604 shares of the company's stock, valued at approximately $23,591,256.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO David Spector sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $87.18, for a total transaction of $1,307,700.00. Following the completion of the transaction, the chief executive officer now owns 270,604 shares in the company, valued at $23,591,256.72. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel Stanley Perotti sold 11,400 shares of PennyMac Financial Services stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $92.00, for a total transaction of $1,048,800.00. Following the transaction, the chief financial officer now directly owns 246,497 shares in the company, valued at $22,677,724. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 114,267 shares of company stock valued at $10,131,477. 16.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Keefe, Bruyette & Woods lowered their price objective on PennyMac Financial Services from $105.00 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, April 26th. Wedbush reaffirmed an "outperform" rating and set a $110.00 price objective on shares of PennyMac Financial Services in a report on Thursday, April 25th. Barclays upped their target price on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an "overweight" rating in a research note on Tuesday, April 9th. StockNews.com upgraded shares of PennyMac Financial Services from a "sell" rating to a "hold" rating in a research note on Monday, May 13th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on PennyMac Financial Services from $115.00 to $112.00 and set a "buy" rating on the stock in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $97.75.

Check Out Our Latest Report on PennyMac Financial Services

PennyMac Financial Services Company Profile

(Free Report)

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.

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