PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Sold by Senvest Management LLC

Senvest Management LLC decreased its position in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 10.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 989,062 shares of the real estate investment trust's stock after selling 120,069 shares during the quarter. PennyMac Financial Services comprises approximately 3.9% of Senvest Management LLC's investment portfolio, making the stock its 12th biggest position. Senvest Management LLC owned about 1.93% of PennyMac Financial Services worth $112,723,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in PennyMac Financial Services by 7.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust's stock worth $50,985,000 after purchasing an additional 31,035 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of PennyMac Financial Services during the 3rd quarter valued at about $24,644,000. Intech Investment Management LLC acquired a new position in shares of PennyMac Financial Services during the 3rd quarter valued at $956,000. KBC Group NV grew its stake in shares of PennyMac Financial Services by 20.3% in the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust's stock valued at $153,000 after buying an additional 226 shares during the period. Finally, Aigen Investment Management LP acquired a new position in shares of PennyMac Financial Services during the third quarter worth approximately $280,000. Institutional investors own 57.87% of the company's stock.

Insider Buying and Selling

In related news, CAO Gregory L. Hendry sold 3,032 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total transaction of $309,536.88. Following the completion of the sale, the chief accounting officer now owns 48,040 shares in the company, valued at $4,904,403.60. This represents a 5.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Richard Bailey sold 14,130 shares of the company's 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 transaction, the insider now owns 14,670 shares of the company's stock, valued at approximately $1,714,629.60. The trade was a 49.06 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,991 shares of company stock worth $9,948,749. 16.60% of the stock is owned by insiders.

PennyMac Financial Services Trading Up 1.6 %

Shares of PFSI traded up $1.67 during trading hours on Friday, reaching $105.62. 166,463 shares of the company traded hands, compared to its average volume of 274,491. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 33.53 and a beta of 1.79. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75. PennyMac Financial Services, Inc. has a 12-month low of $76.57 and a 12-month high of $119.13. The stock's fifty day moving average price is $106.77 and its 200 day moving average price is $100.29.

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

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.14%. PennyMac Financial Services's payout ratio is currently 38.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PFSI shares. Wedbush reissued an "outperform" rating and issued a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Barclays upped their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Finally, Piper Sandler lifted their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, PennyMac Financial Services presently has an average rating of "Moderate Buy" and a consensus target price of $115.86.

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.