PennyMac Financial Services, Inc. (NYSE:PFSI) Holdings Trimmed by Arizona State Retirement System

Arizona State Retirement System lowered its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 28.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,914 shares of the real estate investment trust's stock after selling 3,550 shares during the period. Arizona State Retirement System's holdings in PennyMac Financial Services were worth $910,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. GSA Capital Partners LLP bought a new position in PennyMac Financial Services during the 3rd quarter valued at $347,000. Aigen Investment Management LP acquired a new stake in shares of PennyMac Financial Services in the 3rd quarter valued at about $280,000. KBC Group NV lifted its position in shares of PennyMac Financial Services by 20.3% during the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust's stock worth $153,000 after purchasing an additional 226 shares during the last quarter. Intech Investment Management LLC acquired a new position in PennyMac Financial Services in the third quarter worth about $956,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in PennyMac Financial Services in the third quarter valued at about $24,644,000. Institutional investors and hedge funds own 57.87% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PFSI. Piper Sandler reduced their price target on shares of PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Keefe, Bruyette & Woods cut their target price on shares of PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating on the stock in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $122.17.

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PennyMac Financial Services Price Performance

PFSI traded up $1.14 during trading on Monday, reaching $98.09. The stock had a trading volume of 180,274 shares, compared to its average volume of 266,579. The stock has a 50 day moving average of $103.10 and a two-hundred day moving average of $104.99. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. PennyMac Financial Services, Inc. has a 1-year low of $83.03 and a 1-year high of $119.13.

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

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were paid a $0.30 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.22%. PennyMac Financial Services's dividend payout ratio is currently 20.55%.

Insider Buying and Selling

In related news, Director Doug Jones sold 8,373 shares of PennyMac Financial Services stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $102.95, for a total value of $862,000.35. Following the transaction, the director now directly owns 19,056 shares in the company, valued at $1,961,815.20. The trade was a 30.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Spector sold 5,000 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $101.28, for a total value of $506,400.00. Following the sale, the chief executive officer now directly owns 155,604 shares of the company's stock, valued at approximately $15,759,573.12. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 150,697 shares of company stock worth $15,327,924 in the last ninety days. 16.60% of the stock is currently owned by corporate insiders.

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.