Saxon Interests Inc. Invests $208,000 in PennyMac Financial Services, Inc. (NYSE:PFSI)

Saxon Interests Inc. purchased a new position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) during the fourth quarter, HoldingsChannel reports. The firm purchased 2,352 shares of the real estate investment trust’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its position in PennyMac Financial Services by 59.9% during the first quarter. Tower Research Capital LLC TRC now owns 542 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 203 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in PennyMac Financial Services in the 3rd quarter valued at about $57,000. Captrust Financial Advisors increased its holdings in shares of PennyMac Financial Services by 75.9% during the second quarter. Captrust Financial Advisors now owns 2,890 shares of the real estate investment trust’s stock worth $126,000 after purchasing an additional 1,247 shares during the period. Canada Pension Plan Investment Board raised its position 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 valued at $156,000 after buying an additional 486 shares in the last quarter. Finally, Advisors Asset Management Inc. bought a new stake in shares of PennyMac Financial Services in the first quarter valued at approximately $168,000. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Trading Down 0.7 %

NYSE:PFSI traded down $0.62 during trading hours on Thursday, hitting $91.09. 397,973 shares of the company were exchanged, compared to its average volume of 237,801. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 33.84, a price-to-earnings-growth ratio of 0.60 and a beta of 1.66. PennyMac Financial Services, Inc. has a one year low of $56.16 and a one year high of $94.78. The company has a fifty day simple moving average of $87.70 and a 200 day simple moving average of $79.84. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 1.90.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Thursday, February 1st. The real estate investment trust reported $1.76 EPS for the quarter, beating the consensus estimate of $1.01 by $0.75. The business had revenue of $361.94 million for the quarter, compared to analysts’ expectations of $413.35 million. PennyMac Financial Services had a return on equity of 7.69% and a net margin of 10.32%. Sell-side analysts expect that PennyMac Financial Services, Inc. will post 10.18 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, February 12th. This represents a $0.80 dividend on an annualized basis and a yield of 0.88%. PennyMac Financial Services’s payout ratio is currently 29.52%.

Analysts Set New Price Targets

PFSI has been the topic of several analyst reports. UBS Group began coverage on PennyMac Financial Services in a report on Wednesday, December 6th. They set a “neutral” rating and a $85.00 target price on the stock. Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 10th. Wedbush lifted their price objective on shares of PennyMac Financial Services from $85.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, January 2nd. StockNews.com upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Wednesday, March 13th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on PennyMac Financial Services in a research report on Wednesday, January 10th. They set a “buy” rating and a $115.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $92.25.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, insider James Follette sold 2,617 shares of PennyMac Financial Services stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total value of $225,690.08. Following the completion of the sale, the insider now directly owns 7,257 shares in the company, valued at $625,843.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Derek Stark sold 5,255 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $89.44, for a total value of $470,007.20. Following the completion of the sale, the insider now directly owns 27,084 shares of the company’s stock, valued at $2,422,392.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James Follette sold 2,617 shares of PennyMac Financial Services stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total transaction of $225,690.08. Following the transaction, the insider now directly owns 7,257 shares in the company, valued at $625,843.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,802 shares of company stock valued at $8,025,358. Corporate insiders own 17.40% of the company’s stock.

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.