MorganRosel Wealth Management LLC Has $833,000 Stock Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

MorganRosel Wealth Management LLC lowered its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 28.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,312 shares of the real estate investment trust’s stock after selling 2,913 shares during the period. MorganRosel Wealth Management LLC’s holdings in PennyMac Financial Services were worth $833,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Blue Trust Inc. lifted its stake in shares of PennyMac Financial Services by 1,529.6% in the second quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 413 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in PennyMac Financial Services by 29.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 109 shares in the last quarter. SG Americas Securities LLC acquired a new position in PennyMac Financial Services during the 1st quarter valued at about $202,000. Virtu Financial LLC bought a new stake in PennyMac Financial Services during the 4th quarter worth approximately $253,000. Finally, Cannon Global Investment Management LLC bought a new position in shares of PennyMac Financial Services in the second quarter valued at approximately $255,000. Institutional investors own 57.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PFSI. Wedbush increased their price objective on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Barclays raised their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price on the stock. in a research note on Monday, July 22nd. StockNews.com lowered shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Finally, Piper Sandler upped their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $111.50.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock opened at $106.27 on Friday. PennyMac Financial Services, Inc. has a 1-year low of $62.15 and a 1-year high of $119.13. The firm has a market cap of $5.41 billion, a P/E ratio of 36.90, a P/E/G ratio of 0.66 and a beta of 1.77. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.75. The firm has a 50-day moving average of $105.93 and a 200-day moving average of $97.12.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The business had revenue of $406.13 million during the quarter, compared to analysts’ expectations of $469.64 million. During the same period in the previous year, the business earned $1.11 EPS. The business’s revenue was up 20.7% compared to the same quarter last year. Sell-side analysts expect that PennyMac Financial Services, Inc. will post 11.06 EPS for the current year.

PennyMac Financial Services Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.30 per share. This is a boost from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.13%. PennyMac Financial Services’s payout ratio is presently 41.67%.

Insiders Place Their Bets

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $112.93, for a total value of $1,185,765.00. Following the completion of the sale, the chief financial officer now owns 235,997 shares of the company’s stock, valued at approximately $26,651,141.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Joseph F. Mazzella sold 11,396 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $97.92, for a total value of $1,115,896.32. Following the transaction, the director now owns 105,446 shares in the company, valued at $10,325,272.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $112.93, for a total transaction of $1,185,765.00. Following the sale, the chief financial officer now owns 235,997 shares of the company’s stock, valued at $26,651,141.21. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,855 shares of company stock valued at $8,571,899. 16.60% of the stock is currently owned by corporate insiders.

About PennyMac Financial Services

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.