SG Americas Securities LLC Sells 2,393 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

SG Americas Securities LLC reduced its position in PennyMac Financial Services, Inc. (NYSE:PFSI – Get Rating) by 22.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,046 shares of the real estate investment trust’s stock after selling 2,393 shares during the quarter. SG Americas Securities LLC’s holdings in PennyMac Financial Services were worth $345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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A number of other large investors have also bought and sold shares of PFSI. Acadian Asset Management LLC purchased a new stake in PennyMac Financial Services in the first quarter worth $519,000. MetLife Investment Management LLC increased its position in PennyMac Financial Services by 39.6% in the first quarter. MetLife Investment Management LLC now owns 15,934 shares of the real estate investment trust’s stock worth $848,000 after buying an additional 4,522 shares during the last quarter. LSV Asset Management boosted its holdings in shares of PennyMac Financial Services by 12.3% in the first quarter. LSV Asset Management now owns 53,212 shares of the real estate investment trust’s stock worth $2,831,000 after acquiring an additional 5,846 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of PennyMac Financial Services by 93.7% in the first quarter. Dimensional Fund Advisors LP now owns 783,884 shares of the real estate investment trust’s stock worth $41,703,000 after acquiring an additional 379,161 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of PennyMac Financial Services by 19.9% in the first quarter. Canada Pension Plan Investment Board now owns 2,932 shares of the real estate investment trust’s stock worth $156,000 after acquiring an additional 486 shares during the period. 67.03% of the stock is owned by hedge funds and other institutional investors.

PennyMac Financial Services Trading Up 0.2 %

Shares of PFSI stock opened at $65.97 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.70 and a current ratio of 0.70. PennyMac Financial Services, Inc. has a 52-week low of $38.53 and a 52-week high of $66.46. The company has a market capitalization of $3.30 billion, a PE ratio of 6.30 and a beta of 1.39. The business’s fifty day moving average is $59.25 and its 200 day moving average is $54.30.

PennyMac Financial Services (NYSE:PFSI – Get Rating) last released its earnings results on Thursday, October 27th. The real estate investment trust reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $1.34. The business had revenue of $476.29 million for the quarter, compared to analysts’ expectations of $419.60 million. PennyMac Financial Services had a return on equity of 19.77% and a net margin of 26.12%. On average, equities research analysts anticipate that PennyMac Financial Services, Inc. will post 8.57 EPS for the current fiscal year.

Insider Activity at PennyMac Financial Services

In related news, Director Joseph F. Mazzella sold 40,000 shares of the stock in a transaction on Wednesday, December 14th. The stock was sold at an average price of $58.67, for a total value of $2,346,800.00. Following the transaction, the director now owns 177,031 shares of the company’s stock, valued at $10,386,408.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other PennyMac Financial Services news, CEO David Spector sold 12,750 shares of the company’s stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $58.12, for a total transaction of $741,030.00. Following the completion of the sale, the chief executive officer now directly owns 667,636 shares in the company, valued at $38,803,004.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Joseph F. Mazzella sold 40,000 shares of the company’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $58.67, for a total transaction of $2,346,800.00. Following the sale, the director now owns 177,031 shares of the company’s stock, valued at $10,386,408.77. The disclosure for this sale can be found here. Insiders have sold a total of 161,426 shares of company stock valued at $9,126,641 over the last 90 days. 18.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Barclays lowered PennyMac Financial Services from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $55.00 to $58.00 in a report on Friday, January 6th. JMP Securities lowered PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 18th. StockNews.com raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Monday, January 23rd. Wells Fargo & Company raised PennyMac Financial Services from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $54.00 to $75.00 in a report on Tuesday, December 6th. Finally, Piper Sandler raised their price target on PennyMac Financial Services from $78.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, October 28th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $67.67.

PennyMac Financial Services Profile

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PennyMac Financial Services, Inc operates as a holding company. The firm engages in the production and servicing of U.S. residential mortgage loans. It operates through the following segments: Production, Servicing, and Investment Management. The Production segment includes mortgage loan origination, acquisition, and sale activities.

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