Boston Partners Reduces Stake in PennyMac Financial Services Inc (PFSI)
Boston Partners lowered its position in shares of PennyMac Financial Services Inc (NYSE:PFSI) by 37.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 296,945 shares of the real estate investment trust’s stock after selling 180,869 shares during the period. Boston Partners’ holdings in PennyMac Financial Services were worth $5,835,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of PFSI. Adams Diversified Equity Fund Inc. acquired a new position in PennyMac Financial Services in the second quarter valued at about $625,000. American International Group Inc. raised its stake in PennyMac Financial Services by 486.5% in the first quarter. American International Group Inc. now owns 62,816 shares of the real estate investment trust’s stock valued at $1,423,000 after purchasing an additional 52,105 shares in the last quarter. Sei Investments Co. acquired a new position in PennyMac Financial Services in the first quarter valued at about $610,000. Hillsdale Investment Management Inc. raised its stake in PennyMac Financial Services by 1,612.9% in the first quarter. Hillsdale Investment Management Inc. now owns 53,100 shares of the real estate investment trust’s stock valued at $1,203,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in PennyMac Financial Services by 99.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 38,482 shares of the real estate investment trust’s stock valued at $860,000 after purchasing an additional 19,157 shares in the last quarter. 90.65% of the stock is owned by institutional investors.
In other PennyMac Financial Services news, insider Anne Mccallion sold 5,000 shares of PennyMac Financial Services stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $21.22, for a total value of $106,100.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Matthew Botein sold 10,000 shares of PennyMac Financial Services stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $21.12, for a total value of $211,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 155,891 shares of company stock worth $3,143,159. Company insiders own 42.06% of the company’s stock.
PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Thursday, August 2nd. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.04. PennyMac Financial Services had a return on equity of 3.91% and a net margin of 11.03%. The firm had revenue of $244.30 million for the quarter, compared to analysts’ expectations of $241.49 million. equities analysts anticipate that PennyMac Financial Services Inc will post 2.67 earnings per share for the current fiscal year.
The firm also recently announced a special dividend, which will be paid on Thursday, August 30th. Shareholders of record on Monday, August 13th will be given a $0.40 dividend. The ex-dividend date is Friday, August 10th.
A number of research analysts recently commented on PFSI shares. ValuEngine raised PennyMac Financial Services from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Barclays set a $24.00 price target on PennyMac Financial Services and gave the company a “buy” rating in a research note on Wednesday, July 25th. Compass Point reaffirmed a “hold” rating and issued a $23.00 price target on shares of PennyMac Financial Services in a research note on Tuesday, August 7th. Zacks Investment Research raised PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a research note on Thursday, June 28th. Finally, Wells Fargo & Co downgraded PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $21.00 price target for the company. in a research note on Thursday, May 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. PennyMac Financial Services presently has a consensus rating of “Hold” and an average price target of $24.80.
PennyMac Financial Services 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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