Virginia Retirement Systems ET AL Invests $648,000 in PennyMac Financial Services Inc (NYSE:PFSI)

Virginia Retirement Systems ET AL purchased a new position in shares of PennyMac Financial Services Inc (NYSE:PFSI) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 29,200 shares of the real estate investment trust’s stock, valued at approximately $648,000.

Several other large investors have also recently added to or reduced their stakes in PFSI. New York State Teachers Retirement System acquired a new position in shares of PennyMac Financial Services during the 1st quarter worth $38,000. Metropolitan Life Insurance Co. NY raised its stake in shares of PennyMac Financial Services by 223.0% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,344 shares of the real estate investment trust’s stock worth $135,000 after buying an additional 4,380 shares during the last quarter. Denali Advisors LLC acquired a new position in shares of PennyMac Financial Services during the 2nd quarter worth $195,000. Bessemer Group Inc. raised its stake in shares of PennyMac Financial Services by 33.6% during the 2nd quarter. Bessemer Group Inc. now owns 13,109 shares of the real estate investment trust’s stock worth $291,000 after buying an additional 3,299 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in PennyMac Financial Services in the 1st quarter valued at about $336,000. 30.92% of the stock is owned by institutional investors and hedge funds.

Shares of PFSI stock opened at $26.44 on Wednesday. The company has a 50-day moving average price of $23.88. PennyMac Financial Services Inc has a twelve month low of $18.77 and a twelve month high of $27.12. The firm has a market cap of $2.09 billion, a P/E ratio of 10.21, a price-to-earnings-growth ratio of 0.80 and a beta of 0.48. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.89.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Thursday, August 1st. The real estate investment trust reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.15. PennyMac Financial Services had a net margin of 16.34% and a return on equity of 9.76%. The firm had revenue of $302.98 million during the quarter, compared to the consensus estimate of $267.80 million. On average, sell-side analysts predict that PennyMac Financial Services Inc will post 3.36 EPS for the current year.

Separately, Zacks Investment Research raised shares of PennyMac Financial Services from a “hold” rating to a “strong-buy” rating and set a $26.00 target price for the company in a research note on Wednesday, July 17th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $25.50.

In other PennyMac Financial Services news, Director Matthew Botein sold 40,000 shares of PennyMac Financial Services stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $21.87, for a total value of $874,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anne Mccallion sold 5,000 shares of PennyMac Financial Services stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $21.51, for a total value of $107,550.00. The disclosure for this sale can be found here. Insiders sold a total of 176,000 shares of company stock valued at $3,950,090 in the last three months. 22.17% 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. It operates through three segments: Loan Production, Loan Servicing, and Investment Management. The Loan Production segment is involved in the origination, acquisition, and sale of mortgage loans.

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

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