Legal & General Group Plc Reduces Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Legal & General Group Plc lowered its position in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 30.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,716 shares of the real estate investment trust's stock after selling 14,416 shares during the quarter. Legal & General Group Plc owned approximately 0.07% of PennyMac Financial Services worth $3,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PFSI. KBC Group NV boosted its stake 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 valued at $158,000 after purchasing an additional 209 shares in the last quarter. Dakota Wealth Management lifted its stake in PennyMac Financial Services by 2.6% in the fourth quarter. Dakota Wealth Management now owns 14,578 shares of the real estate investment trust's stock worth $1,489,000 after purchasing an additional 374 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in PennyMac Financial Services by 54.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust's stock valued at $112,000 after buying an additional 389 shares during the period. Rhumbline Advisers grew its stake in shares of PennyMac Financial Services by 1.0% during the fourth quarter. Rhumbline Advisers now owns 41,529 shares of the real estate investment trust's stock valued at $4,242,000 after buying an additional 414 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of PennyMac Financial Services by 4.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 20,017 shares of the real estate investment trust's stock worth $2,045,000 after buying an additional 766 shares during the period. 57.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on PFSI shares. UBS Group decreased their price target on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 target price on the stock in a report on Tuesday, April 8th. Piper Sandler lowered their price target on shares of PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating for the company in a report on Wednesday. Finally, Wells Fargo & Company cut their price target on shares of PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, PennyMac Financial Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $119.86.

PennyMac Financial Services Stock Down 1.5 %

Shares of PFSI stock traded down $1.46 during midday trading on Friday, reaching $93.65. 312,221 shares of the stock were exchanged, compared to its average volume of 305,114. The firm has a market cap of $4.82 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The company's 50 day moving average is $98.69 and its two-hundred day moving average is $102.30. PennyMac Financial Services, Inc. has a 1 year low of $84.93 and a 1 year high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.99 by ($1.57). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. The firm had revenue of $430.90 million during the quarter, compared to the consensus estimate of $520.42 million. During the same quarter last year, the company posted $0.74 EPS. On average, equities research analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Wednesday, May 14th. PennyMac Financial Services's dividend payout ratio is 20.55%.

Insider Activity

In related news, CRO Abbie Tidmore sold 2,669 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $102.55, for a total transaction of $273,705.95. Following the sale, the executive now directly 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO David Spector sold 5,000 shares of PennyMac Financial Services stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $103.44, for a total transaction of $517,200.00. Following the completion of the transaction, the chief executive officer now directly owns 150,604 shares of the company's stock, valued at $15,578,477.76. This trade represents a 3.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,464 shares of company stock worth $4,540,867. 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.