PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. trimmed its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 70.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,856 shares of the real estate investment trust's stock after selling 88,309 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.07% of PennyMac Financial Services worth $4,314,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Hexagon Capital Partners LLC boosted 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 buying an additional 109 shares during the period. KBC Group NV boosted its holdings in shares of PennyMac Financial Services by 20.3% in the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust's stock valued at $153,000 after purchasing an additional 226 shares during the period. Blue Trust Inc. boosted its holdings in shares of PennyMac Financial Services by 59.5% in the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust's stock valued at $80,000 after purchasing an additional 262 shares during the period. Quantbot Technologies LP grew its stake in PennyMac Financial Services by 23.7% in the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust's stock worth $173,000 after purchasing an additional 290 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in PennyMac Financial Services during the 3rd quarter worth $37,000. 57.87% of the stock is owned by hedge funds and other institutional investors.

PennyMac Financial Services Stock Up 1.2 %

PennyMac Financial Services stock traded up $1.25 during trading hours on Friday, reaching $107.07. The stock had a trading volume of 165,676 shares, compared to its average volume of 242,766. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 33.99 and a beta of 1.78. The business's 50 day moving average price is $105.33 and its 200-day moving average price is $101.14. PennyMac Financial Services, Inc. has a 52 week low of $79.11 and a 52 week high of $119.13. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The firm had revenue of $411.83 million for the quarter, compared to analysts' expectations of $513.12 million. During the same period in the previous year, the company earned $1.77 EPS. The company's revenue was up 2.9% on a year-over-year basis. Sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 1.12%. PennyMac Financial Services's dividend payout ratio (DPR) is 38.10%.

Analyst Ratings Changes

A number of research firms have recently issued reports on PFSI. Wells Fargo & Company increased their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Wedbush reiterated an "outperform" rating and set a $130.00 target price on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Piper Sandler boosted their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Finally, Barclays increased their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $121.00.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 10,500 shares of the company's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $100.02, for a total transaction of $1,050,210.00. Following the transaction, the chief financial officer now owns 225,497 shares in the company, valued at approximately $22,554,209.94. This represents a 4.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven Richard Bailey sold 14,130 shares of PennyMac Financial Services stock in a transaction on Monday, September 16th. The stock was sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the sale, the insider now owns 14,670 shares of the company's stock, valued at $1,714,629.60. The trade was a 49.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,162 shares of company stock valued at $8,540,526 in the last ninety days. Corporate insiders own 16.60% of the company's stock.

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.