PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Purchased by Cullen Capital Management LLC

Cullen Capital Management LLC increased its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 19.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 8,049 shares of the real estate investment trust’s stock after purchasing an additional 1,326 shares during the period. Cullen Capital Management LLC’s holdings in PennyMac Financial Services were worth $822,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its stake in PennyMac Financial Services by 54.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 389 shares during the period. KBC Group NV increased its stake in PennyMac Financial Services by 15.6% during the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 209 shares during the period. Verition Fund Management LLC purchased a new stake in PennyMac Financial Services during the 3rd quarter worth approximately $203,000. Hohimer Wealth Management LLC acquired a new stake in PennyMac Financial Services during the 3rd quarter worth approximately $236,000. Finally, Cibc World Markets Corp purchased a new position in PennyMac Financial Services in the 4th quarter valued at approximately $255,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Keefe, Bruyette & Woods reduced their price objective on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 10th. Piper Sandler reduced their price target on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, PennyMac Financial Services currently has an average rating of “Moderate Buy” and a consensus target price of $122.17.

Insiders Place Their Bets

In related news, insider James Follette sold 1,983 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $99.93, for a total transaction of $198,161.19. Following the transaction, the insider now owns 10,497 shares in the company, valued at $1,048,965.21. This trade represents a 15.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $101.49, for a total value of $1,065,645.00. Following the completion of the sale, the chief financial officer now owns 214,997 shares of the company’s stock, valued at approximately $21,820,045.53. This represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,054 shares of company stock valued at $4,995,586. 16.60% of the stock is owned by corporate insiders.

PennyMac Financial Services Price Performance

PennyMac Financial Services stock opened at $103.52 on Friday. The stock has a market cap of $5.32 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. The company has a fifty day simple moving average of $102.33 and a 200-day simple moving average of $104.18. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. PennyMac Financial Services, Inc. has a 12-month low of $83.03 and a 12-month high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. Equities analysts expect 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. Shareholders of record on Thursday, February 13th were paid a $0.30 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.16%. PennyMac Financial Services’s dividend payout ratio is currently 20.55%.

About PennyMac Financial Services

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.