Alliancebernstein L.P. Sells 3,516 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Alliancebernstein L.P. lowered its stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,043 shares of the real estate investment trust's stock after selling 3,516 shares during the quarter. Alliancebernstein L.P. owned approximately 0.18% of PennyMac Financial Services worth $9,299,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its position in PennyMac Financial Services by 54.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust's stock valued at $112,000 after purchasing an additional 389 shares during the period. KBC Group NV lifted its holdings in shares of PennyMac Financial Services by 15.6% in the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust's stock worth $158,000 after purchasing an additional 209 shares in the last quarter. Verition Fund Management LLC acquired a new position in shares of PennyMac Financial Services during the third quarter valued at about $203,000. Hohimer Wealth Management LLC bought a new stake in PennyMac Financial Services during the 3rd quarter worth approximately $236,000. Finally, Cibc World Markets Corp bought a new stake in PennyMac Financial Services during the fourth quarter worth $255,000. Institutional investors own 57.87% of the company's stock.

PennyMac Financial Services Price Performance

NYSE PFSI traded down $0.70 during trading on Tuesday, reaching $96.66. The company's stock had a trading volume of 105,326 shares, compared to its average volume of 299,344. The firm has a fifty day moving average of $99.93 and a 200 day moving average of $103.09. The stock has a market capitalization of $4.97 billion, a PE ratio of 16.55, a P/E/G ratio of 0.19 and a beta of 1.73. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. PennyMac Financial Services, Inc. has a one year low of $83.03 and a one year high of $119.13.

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PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing analysts' consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. Analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.24%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services's dividend payout ratio is presently 20.55%.

Insider Transactions at PennyMac Financial Services

In other news, CRO Abbie Tidmore sold 2,669 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $102.55, for a total value of $273,705.95. Following the completion of the transaction, the executive now owns 4,878 shares of the company's stock, valued at approximately $500,238.90. This represents a 35.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Follette sold 1,983 shares of the firm's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total value of $198,161.19. Following the transaction, the insider now directly owns 10,497 shares of the company's stock, valued at $1,048,965.21. This represents a 15.89 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,464 shares of company stock worth $4,540,867. Insiders own 16.60% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on PFSI. Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price objective for the company in a research note on Tuesday, April 8th. Piper Sandler dropped their price objective on shares of PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company's stock. According to MarketBeat, PennyMac Financial Services has an average rating of "Moderate Buy" and an average price target of $122.67.

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.