California Public Employees Retirement System purchased a new stake in PennyMac Financial Services Inc (NYSE:PFSI) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 19,581 shares of the real estate investment trust’s stock, valued at approximately $444,000.
Other institutional investors also recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC acquired a new stake in PennyMac Financial Services in the 4th quarter valued at $163,000. Quantitative Systematic Strategies LLC acquired a new stake in PennyMac Financial Services in the 1st quarter valued at $223,000. Millennium Management LLC acquired a new stake in PennyMac Financial Services in the 4th quarter valued at $566,000. Sterling Capital Management LLC acquired a new stake in PennyMac Financial Services in the 4th quarter valued at $615,000. Finally, O Shaughnessy Asset Management LLC grew its stake in PennyMac Financial Services by 132,900.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 27,930 shares of the real estate investment trust’s stock valued at $633,000 after acquiring an additional 27,909 shares during the period. 91.73% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Anne Mccallion sold 5,000 shares of PennyMac Financial Services stock in a transaction on Thursday, April 26th. The stock was sold at an average price of $20.65, for a total transaction of $103,250.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Stanford L. Kurland sold 5,950 shares of PennyMac Financial Services stock in a transaction on Monday, April 23rd. The stock was sold at an average price of $20.61, for a total value of $122,629.50. Following the transaction, the chairman now owns 25,037 shares in the company, valued at approximately $516,012.57. The disclosure for this sale can be found here. Insiders sold a total of 160,086 shares of company stock worth $3,244,555 in the last 90 days. 45.64% of the stock is currently owned by insiders.
PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, May 3rd. The real estate investment trust reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.06). The firm had revenue of $238.20 million during the quarter, compared to analysts’ expectations of $234.60 million. PennyMac Financial Services had a net margin of 10.77% and a return on equity of 3.67%. sell-side analysts expect that PennyMac Financial Services Inc will post 2.76 EPS for the current year.
A number of equities research analysts recently issued reports on the stock. Zacks Investment Research cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday. ValuEngine cut shares of PennyMac Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, June 29th. Barclays set a $26.00 price objective on PennyMac Financial Services and gave the company a “buy” rating in a report on Sunday, May 6th. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a “market perform” rating to an “outperform” rating in a report on Monday, May 7th. Finally, Wells Fargo & Co lowered PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $21.00 price objective on the stock. in a report on Thursday, May 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. PennyMac Financial Services presently has an average rating of “Hold” and an average target price of $25.75.
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. It operates through three segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment is involved in the origination, acquisition, and sale of mortgage loans.
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