PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 15.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,184 shares of the real estate investment trust's stock after selling 4,541 shares during the quarter. Victory Capital Management Inc.'s holdings in PennyMac Financial Services were worth $2,572,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust lifted its position in shares of PennyMac Financial Services by 54.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust's stock worth $112,000 after buying an additional 389 shares during the last quarter. KBC Group NV lifted its holdings 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 purchasing an additional 226 shares during the last quarter. Quantbot Technologies LP lifted its holdings in shares of PennyMac Financial Services by 23.7% in the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust's stock valued at $173,000 after purchasing an additional 290 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of PennyMac Financial Services in the 3rd quarter valued at about $203,000. Finally, Hohimer Wealth Management LLC purchased a new position in PennyMac Financial Services during the 3rd quarter worth approximately $236,000. 57.87% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analysts Set New Price Targets

Several research firms have recently weighed in on PFSI. Piper Sandler decreased their price objective on PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating for the company in a report on Friday, January 31st. Keefe, Bruyette & Woods decreased their price target on shares of PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating for the company in a research note on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, PennyMac Financial Services presently has a consensus rating of "Moderate Buy" and an average price target of $122.17.

Insider Transactions at PennyMac Financial Services

In related news, CEO David Spector sold 5,000 shares of the company's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $99.38, for a total transaction of $496,900.00. Following the transaction, the chief executive officer now owns 165,604 shares of the company's stock, valued at $16,457,725.52. This represents a 2.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider James Follette sold 1,983 shares of the firm's stock in a transaction 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 completion of the sale, the insider now directly owns 10,497 shares of the company's stock, valued at approximately $1,048,965.21. This trade represents a 15.89 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 150,697 shares of company stock valued at $15,327,924. Corporate insiders own 16.60% of the company's stock.

PennyMac Financial Services Stock Performance

PFSI traded up $2.17 during trading on Thursday, hitting $101.68. The stock had a trading volume of 265,218 shares, compared to its average volume of 266,087. The firm has a market capitalization of $5.23 billion, a P/E ratio of 17.40, a PEG ratio of 0.19 and a beta of 1.90. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. PennyMac Financial Services, Inc. has a twelve month low of $83.03 and a twelve month high of $119.13. The company's 50-day moving average price is $103.04 and its 200 day moving average price is $104.84.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share 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, equities research analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal 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 1.18%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services's payout ratio is 20.55%.

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.