Saxon Interests Inc. Buys New Stake in PennyMac Financial Services, Inc. (NYSE:PFSI)

Saxon Interests Inc. purchased a new stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,352 shares of the real estate investment trust’s stock, valued at approximately $208,000.

A number of other large investors have also modified their holdings of PFSI. Citigroup Inc. grew its stake in PennyMac Financial Services by 100.7% during the 1st quarter. Citigroup Inc. now owns 5,768 shares of the real estate investment trust’s stock valued at $344,000 after acquiring an additional 850,545 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in PennyMac Financial Services by 7,011.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 801,420 shares of the real estate investment trust’s stock valued at $5,283,000 after acquiring an additional 790,151 shares during the period. MFN Partners Management LP raised its stake in shares of PennyMac Financial Services by 14.0% in the first quarter. MFN Partners Management LP now owns 4,531,792 shares of the real estate investment trust’s stock valued at $241,091,000 after acquiring an additional 556,274 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in PennyMac Financial Services by 205.8% in the first quarter. JPMorgan Chase & Co. now owns 282,036 shares of the real estate investment trust’s stock worth $16,812,000 after acquiring an additional 548,677 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of PennyMac Financial Services by 322.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 706,965 shares of the real estate investment trust’s stock worth $37,610,000 after purchasing an additional 539,539 shares during the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

Insider Buying and Selling

In other PennyMac Financial Services news, insider James Follette sold 2,617 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $86.24, for a total value of $225,690.08. Following the transaction, the insider now directly owns 7,257 shares of the company’s stock, valued at approximately $625,843.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Derek Stark sold 5,255 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $89.44, for a total transaction of $470,007.20. Following the completion of the transaction, the insider now directly owns 27,084 shares in the company, valued at $2,422,392.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James Follette sold 2,617 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 7,257 shares in the company, valued at approximately $625,843.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,802 shares of company stock valued at $8,025,358. Insiders own 17.40% of the company’s stock.

PennyMac Financial Services Trading Down 0.7 %

PFSI traded down $0.62 during midday trading on Thursday, hitting $91.09. The company’s stock had a trading volume of 397,973 shares, compared to its average volume of 237,801. The firm has a 50-day moving average price of $87.70 and a two-hundred day moving average price 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, Inc. has a 52-week low of $56.16 and a 52-week high of $94.78. The firm has a market cap of $4.59 billion, a P/E ratio of 33.84, a PEG ratio of 0.60 and a beta of 1.66.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Thursday, February 1st. The real estate investment trust reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.75. The business had revenue of $361.94 million during the quarter, compared to analysts’ expectations of $413.35 million. PennyMac Financial Services had a net margin of 10.32% and a return on equity of 7.69%. On average, research analysts anticipate that PennyMac Financial Services, Inc. will post 10.18 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 0.88%. PennyMac Financial Services’s payout ratio is presently 29.52%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. StockNews.com raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Keefe, Bruyette & Woods downgraded shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 10th. Deutsche Bank Aktiengesellschaft began coverage on PennyMac Financial Services in a research report on Wednesday, January 10th. They issued a “buy” rating and a $115.00 target price for the company. Wedbush increased their price target on shares of PennyMac Financial Services from $85.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 2nd. Finally, UBS Group assumed coverage on PennyMac Financial Services in a report on Wednesday, December 6th. They set a “neutral” rating and a $85.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.25.

PennyMac Financial Services 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.