Franklin Resources Inc. Sells 10,421 Shares of PennyMac Financial Services, Inc. $PFSI

Franklin Resources Inc. decreased its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 49.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,554 shares of the real estate investment trust’s stock after selling 10,421 shares during the quarter. Franklin Resources Inc.’s holdings in PennyMac Financial Services were worth $1,052,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PFSI. Strs Ohio purchased a new stake in PennyMac Financial Services in the first quarter valued at approximately $30,000. Bayforest Capital Ltd bought a new position in shares of PennyMac Financial Services in the 2nd quarter worth $62,000. MQS Management LLC purchased a new stake in shares of PennyMac Financial Services during the 2nd quarter valued at $208,000. AlphaQuest LLC grew its position in PennyMac Financial Services by 4.4% in the first quarter. AlphaQuest LLC now owns 2,587 shares of the real estate investment trust’s stock worth $259,000 after acquiring an additional 110 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC bought a new position in PennyMac Financial Services in the second quarter valued at $366,000. 57.87% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Doug Jones sold 20,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $132.63, for a total transaction of $2,652,600.00. Following the completion of the transaction, the director directly owned 430,000 shares of the company’s stock, valued at approximately $57,030,900. This represents a 4.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David Spector sold 5,000 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $129.26, for a total transaction of $646,300.00. Following the sale, the chief executive officer owned 115,604 shares of the company’s stock, valued at approximately $14,942,973.04. This represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 209,599 shares of company stock valued at $27,050,778. 15.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PFSI shares. Wall Street Zen raised PennyMac Financial Services from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Zacks Research raised PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. BTIG Research restated a “buy” rating and issued a $135.00 target price on shares of PennyMac Financial Services in a research report on Wednesday, October 22nd. UBS Group upped their target price on PennyMac Financial Services from $135.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of PennyMac Financial Services from $129.00 to $138.00 and gave the stock a “market perform” rating in a research note on Friday, October 24th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, PennyMac Financial Services currently has an average rating of “Moderate Buy” and a consensus target price of $138.67.

PennyMac Financial Services Trading Down 1.3%

Shares of PFSI stock opened at $130.89 on Friday. The stock has a market capitalization of $6.80 billion, a PE ratio of 14.10 and a beta of 1.58. PennyMac Financial Services, Inc. has a 1-year low of $85.74 and a 1-year high of $136.62. The business has a 50-day moving average of $125.91 and a 200 day moving average of $111.72. The company has a debt-to-equity ratio of 3.01, a current ratio of 0.36 and a quick ratio of 0.36.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $2.98 by $0.39. PennyMac Financial Services had a return on equity of 11.69% and a net margin of 25.21%.The business had revenue of $632.90 million for the quarter, compared to analysts’ expectations of $573.46 million. During the same period in the previous year, the firm earned $1.30 EPS. The business’s quarterly revenue was up 53.7% on a year-over-year basis. As a group, sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Monday, November 17th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, November 17th. PennyMac Financial Services’s payout ratio is presently 12.93%.

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. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.