PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP cut its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,149,585 shares of the real estate investment trust's stock after selling 100,349 shares during the period. Dimensional Fund Advisors LP owned about 4.19% of PennyMac Financial Services worth $219,557,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jump Financial LLC purchased a new stake in PennyMac Financial Services during the fourth quarter worth approximately $306,000. Mariner LLC raised its holdings in PennyMac Financial Services by 120.1% during the fourth quarter. Mariner LLC now owns 6,026 shares of the real estate investment trust's stock worth $615,000 after purchasing an additional 3,288 shares in the last quarter. Summit Investment Advisors Inc. raised its holdings in PennyMac Financial Services by 5.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,797 shares of the real estate investment trust's stock worth $286,000 after purchasing an additional 154 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of PennyMac Financial Services by 601.8% during the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock worth $41,000 after buying an additional 343 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of PennyMac Financial Services in the 4th quarter valued at $1,307,000. 57.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. UBS Group cut their price target on shares of 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 PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 target price on the stock in a research report on Tuesday, April 8th. Finally, Piper Sandler decreased their target price on PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.86.

PennyMac Financial Services Trading Up 2.5 %

NYSE:PFSI opened at $96.55 on Wednesday. PennyMac Financial Services, Inc. has a 12-month low of $83.03 and a 12-month high of $119.13. 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 stock's 50 day simple moving average is $99.15 and its 200-day simple moving average is $102.53. The firm has a market cap of $4.97 billion, a P/E ratio of 16.53, a PEG ratio of 0.19 and a beta of 1.73.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 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 for the quarter, compared to analysts' expectations of $520.42 million. During the same quarter in the previous year, the company posted $0.74 EPS. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were given 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 payout ratio is 20.55%.

Insider Transactions at PennyMac Financial Services

In related news, insider Mark Elbaum sold 410 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $102.88, for a total value of $42,180.80. Following the completion of the sale, the insider now owns 4,207 shares in the company, valued at $432,816.16. This trade represents a 8.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James Follette sold 1,983 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $99.93, for a total transaction of $198,161.19. Following the transaction, the insider now owns 10,497 shares in the company, valued at $1,048,965.21. The trade was a 15.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,464 shares of company stock valued at $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.

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