State Board of Administration of Florida Retirement System Has $387,000 Stake in PennyMac Financial Services, Inc. (NYSE:PFSI)

State Board of Administration of Florida Retirement System decreased its position in PennyMac Financial Services, Inc. (NYSE:PFSIGet Rating) by 5.6% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 8,863 shares of the real estate investment trust’s stock after selling 530 shares during the period. State Board of Administration of Florida Retirement System’s holdings in PennyMac Financial Services were worth $387,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its stake in shares of PennyMac Financial Services by 3.4% during the 1st quarter. Commonwealth Equity Services LLC now owns 17,539 shares of the real estate investment trust’s stock valued at $933,000 after buying an additional 570 shares during the period. Victory Capital Management Inc. boosted its stake in shares of PennyMac Financial Services by 1.5% during the 1st quarter. Victory Capital Management Inc. now owns 14,562 shares of the real estate investment trust’s stock valued at $707,000 after buying an additional 213 shares during the period. IndexIQ Advisors LLC boosted its stake in shares of PennyMac Financial Services by 18.1% during the 1st quarter. IndexIQ Advisors LLC now owns 7,457 shares of the real estate investment trust’s stock valued at $397,000 after buying an additional 1,142 shares during the period. Qube Research & Technologies Ltd boosted its stake in shares of PennyMac Financial Services by 33.4% during the 1st quarter. Qube Research & Technologies Ltd now owns 48,633 shares of the real estate investment trust’s stock valued at $2,587,000 after buying an additional 12,171 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in shares of PennyMac Financial Services by 2.9% during the 1st quarter. Teacher Retirement System of Texas now owns 9,801 shares of the real estate investment trust’s stock valued at $521,000 after buying an additional 272 shares during the period. Institutional investors and hedge funds own 61.61% of the company’s stock.

Insider Buying and Selling

In related news, insider Derek Stark sold 7,500 shares of PennyMac Financial Services stock in a transaction on Monday, October 31st. The shares were sold at an average price of $53.86, for a total value of $403,950.00. Following the transaction, the insider now owns 46,820 shares in the company, valued at approximately $2,521,725.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO David Spector sold 40,735 shares of the business’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $54.24, for a total transaction of $2,209,466.40. Following the transaction, the chief executive officer now owns 680,386 shares in the company, valued at approximately $36,904,136.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Derek Stark sold 7,500 shares of the business’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $53.86, for a total transaction of $403,950.00. Following the transaction, the insider now owns 46,820 shares in the company, valued at approximately $2,521,725.20. The disclosure for this sale can be found here. Insiders have sold 91,676 shares of company stock worth $5,025,321 in the last quarter. 18.00% of the stock is currently owned by company insiders.

PennyMac Financial Services Stock Performance

Shares of PFSI opened at $54.74 on Monday. The company has a market capitalization of $2.74 billion, a PE ratio of 5.23 and a beta of 1.40. PennyMac Financial Services, Inc. has a one year low of $38.53 and a one year high of $71.52. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.70 and a quick ratio of 0.70. The company’s fifty day moving average price is $49.61 and its 200 day moving average price is $49.78.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Monday, November 14th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, November 10th. This represents a $0.80 annualized dividend and a yield of 1.46%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 7.64%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. StockNews.com began coverage on shares of PennyMac Financial Services in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Barclays reduced their price objective on shares of PennyMac Financial Services from $65.00 to $55.00 and set an “overweight” rating for the company in a research note on Monday, October 17th. Piper Sandler lifted their price objective on shares of PennyMac Financial Services from $78.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, October 28th. Finally, Wells Fargo & Company reduced their price objective on shares of PennyMac Financial Services from $59.00 to $54.00 and set an “equal weight” rating for the company in a research note on Friday, October 28th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, PennyMac Financial Services currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.

About PennyMac Financial Services

(Get Rating)

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: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.

Recommended Stories

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:PFSIGet Rating).

Institutional Ownership by Quarter for PennyMac Financial Services (NYSE:PFSI)

Receive News & Ratings for PennyMac Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.