California State Teachers Retirement System Sells 1,049 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) (2024)

Table of Contents

Analyst Ratings Changes Insider Activity at PennyMac Financial Services PennyMac Financial Services Stock Performance PennyMac Financial Services Increases Dividend PennyMac Financial Services Profile Featured Articles FAQs References

California State Teachers Retirement System lowered its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI – Free Report) by 2.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,933 shares of the real estate investment trust’s stock after selling 1,049 shares during the period. California State Teachers Retirement System owned 0.08% of PennyMac Financial Services worth $3,729,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of PFSI. USA Financial Formulas bought a new position in shares of PennyMac Financial Services during the 4th quarter worth approximately $25,000. Hexagon Capital Partners LLC grew its holdings in PennyMac Financial Services by 128.9% in the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 205 shares during the last quarter. Parkside Financial Bank & Trust acquired a new position in shares of PennyMac Financial Services during the fourth quarter worth $36,000. TFO Wealth Partners LLC lifted its holdings in shares of PennyMac Financial Services by 16,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 1,141 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of PennyMac Financial Services during the 1st quarter valued at $202,000. Institutional investors own 57.87% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on PFSI. Wedbush boosted their target price on PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Barclays boosted their price target on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. StockNews.com lowered shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Piper Sandler boosted their target price on shares of PennyMac Financial Services from $110.00 to $112.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $107.17.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $93.16, for a total value of $931,600.00. Following the sale, the chief executive officer now owns 240,604 shares in the company, valued at approximately $22,414,668.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $93.16, for a total value of $931,600.00. Following the completion of the transaction, the chief executive officer now owns 240,604 shares of the company’s stock, valued at $22,414,668.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel Stanley Perotti sold 11,400 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $92.00, for a total transaction of $1,048,800.00. Following the sale, the chief financial officer now directly owns 246,497 shares in the company, valued at $22,677,724. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,400 shares of company stock worth $6,551,300. 16.60% of the stock is owned by corporate insiders.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI opened at $95.09 on Wednesday. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 33.02, a PEG ratio of 0.62 and a beta of 1.72. PennyMac Financial Services, Inc. has a 12 month low of $62.15 and a 12 month high of $105.94. The company has a 50 day simple moving average of $94.58 and a two-hundred day simple moving average of $90.89. The company has a current ratio of 0.37, a quick ratio of 0.39 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI – Get Free Report) last posted its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). The business had revenue of $406.13 million for the quarter, compared to analyst estimates of $469.64 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The company’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.11 earnings per share. As a group, analysts predict that PennyMac Financial Services, Inc. will post 10.54 earnings per share for the current year.

PennyMac Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Tuesday, August 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.26%. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, August 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is 41.67%.

PennyMac Financial Services Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding PFSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PennyMac Financial Services, Inc. (NYSE:PFSI – Free Report).

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California State Teachers Retirement System Sells 1,049 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) (2024)

FAQs

Is PennyMac legitimate? ›

Pennymac has an A+ rating and is accredited by the Better Business Bureau. However, it has a rating of 1.7 stars out of 5 on Trustpilot, which is considered bad, based on more than 1,500 reviews.

Who is PennyMac owned by? ›

PennyMac was founded in 2008 with initial investments from BlackRock, HC Partners and the Company's founding management. Currently, approximately 20% of PFSI is owned by HC Partners, and 21% is owned by PFSI's executive officers and directors.

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What is the credit rating of PFSI? ›

TORONTO (S&P Global Ratings) May 20, 2024--S&P Global Ratings today assigned its 'B+' issue rating and '3' recovery rating to PennyMac Financial Services Inc.'s (PFSI; B+/Stable/--) proposed $650 million senior unsecured notes due 2030.

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Is PMT a REIT? ›

As a real estate investment trust (REIT), our objective is to provide attractive risk-adjusted returns to our shareholders over the long-term, primarily through dividends and secondarily through capital appreciation.

What is the Pennymac controversy? ›

Overview Of The Cases. These cases involve claims that PennyMac systematically, and unlawfully, underpays its hourly employees despite their extensive overtime and engages in other unlawful conduct.

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Is Pennymac a good stock? ›

PennyMac Financial has a consensus rating of Strong Buy which is based on 6 buy ratings, 2 hold ratings and 0 sell ratings. The average price target for PennyMac Financial is $112.25. This is based on 8 Wall Streets Analysts 12-month price targets, issued in the past 3 months.

What rating is a 650 credit score? ›

A 650 credit score is generally considered “fair.” A score in this range may limit you from certain financial opportunities. Payment history, monitoring your credit and lowering your credit utilization ratio can be helpful ways to improve this score over time.

What tier is 800 credit score? ›

Fair credit: 580 to 669. Good credit: 670 to 739. Very good credit: 740 to 799. Excellent credit: 800 to 850.

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Is PennyMac a REIT? ›

PennyMac Mortgage Investment Trust has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes.

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Do all REITs pay dividends? ›

REITs, also known as real estate investment trusts, do make dividend payments to investors. In fact, due to its nature, a REIT must pay at least 90% of taxable income to qualifying holders.

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Do REITs own mortgages? ›

Rollover risk: Residential mortgage REITs tend to own long-term mortgages and mortgage-backed securities. However, they often fund these purchases with shorter-duration borrowing since short-term interest rates are generally lower than long-term rates.

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Is Pennymac a government backed loan? ›

The company's mortgage production focuses on the origination of first lien and government-backed or guaranteed mortgage loans through three methods: Correspondent Lending. PennyMac acquires newly originated loans from small banks and independent originators.

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What type of loan is Pennymac? ›

PennyMac Financial Services, Inc. (NYSE: PFSI) is a specialty financial services firm with a comprehensive mortgage platform and integrated business focused on the production and servicing of U.S. mortgage loans and the management of investments related to the U.S. mortgage market.

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How do you know if a mortgage company is legit? ›

Finding a legitimate loan company to work with starts with doing your research. For example, you can check the lender's credentials, reputation with the Better Business Bureau, and consumer reviews. You can also speak to a HUD-certified loan counselor if you have doubts about a particular lender.

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How do I know if a money lender is legit? ›

To find a legitimate personal lender, start by looking at unbiased reviews. Many reputable sites, including Bankrate, offer personal loan reviews. You can read about borrowers' experiences before sharing any personal information.

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