Arrowstreet Capital Limited Partnership Sells 75,632 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Arrowstreet Capital Limited Partnership reduced its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 73.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 27,181 shares of the real estate investment trust's stock after selling 75,632 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.05% of PennyMac Financial Services worth $2,776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of PennyMac Financial Services during the fourth quarter worth approximately $38,004,000. Cannon Global Investment Management LLC raised its position in shares of PennyMac Financial Services by 100.0% during the 4th quarter. Cannon Global Investment Management LLC now owns 4,800 shares of the real estate investment trust's stock valued at $490,000 after acquiring an additional 2,400 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of PennyMac Financial Services by 7.4% in the 4th quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust's stock valued at $294,835,000 after purchasing an additional 199,667 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of PennyMac Financial Services in the 4th quarter worth $654,000. Finally, Sei Investments Co. grew its stake in shares of PennyMac Financial Services by 5.7% during the fourth quarter. Sei Investments Co. now owns 18,379 shares of the real estate investment trust's stock worth $1,877,000 after purchasing an additional 991 shares during the period. 57.87% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PFSI. Piper Sandler reduced their target price on PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Keefe, Bruyette & Woods raised shares of PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price objective on the stock in a research note on Tuesday, April 8th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, PennyMac Financial Services presently has an average rating of "Moderate Buy" and an average price target of $122.67.

PennyMac Financial Services Stock Up 0.1 %

PFSI stock traded up $0.07 during mid-day trading on Tuesday, hitting $97.43. 47,457 shares of the company were exchanged, compared to its average volume of 299,099. The firm has a market cap of $5.01 billion, a P/E ratio of 16.68, a P/E/G ratio of 0.19 and a beta of 1.73. PennyMac Financial Services, Inc. has a 1-year low of $83.03 and a 1-year high of $119.13. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. The firm's 50 day simple moving average is $99.93 and its 200 day simple moving average is $103.09.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 EPS 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%. On average, sell-side analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.23%. PennyMac Financial Services's payout ratio is presently 20.55%.

Insider Buying and Selling at PennyMac Financial Services

In related news, insider Mark Elbaum sold 410 shares of PennyMac Financial Services stock in a transaction dated Friday, April 4th. The stock was sold at an average price of $102.88, for a total value of $42,180.80. Following the sale, the insider now owns 4,207 shares of the company's stock, valued at approximately $432,816.16. The trade was a 8.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Follette sold 1,983 shares of the stock in a transaction that occurred 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 trade represents a 15.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,464 shares of company stock worth $4,540,867. Corporate insiders own 16.60% of the company's stock.

PennyMac Financial Services Company 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.