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

Dimensional Fund Advisors LP trimmed its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 4.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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’s holdings in PennyMac Financial Services were worth $219,557,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its position in PennyMac Financial Services by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 453,810 shares of the real estate investment trust’s stock worth $46,352,000 after purchasing an additional 6,459 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of PennyMac Financial Services by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock worth $108,809,000 after buying an additional 21,751 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of PennyMac Financial Services by 27.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 27,206 shares of the real estate investment trust’s stock valued at $2,779,000 after buying an additional 5,833 shares during the period. Teacher Retirement System of Texas acquired a new stake in PennyMac Financial Services during the fourth quarter worth approximately $518,000. Finally, Barclays PLC grew its stake in PennyMac Financial Services by 505.4% in the 3rd quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust’s stock worth $6,859,000 after acquiring an additional 50,238 shares during the period. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other PennyMac Financial Services news, CRO Abbie Tidmore sold 2,669 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $102.55, for a total transaction of $273,705.95. Following the transaction, the executive now owns 4,878 shares in the company, valued at $500,238.90. The trade was a 35.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider James Follette sold 1,983 shares of the stock in a transaction dated 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 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 44,464 shares of company stock valued at $4,540,867. Company insiders own 16.60% of the company’s stock.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock opened at $96.55 on Wednesday. The company has a market cap of $4.97 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73. PennyMac Financial Services, Inc. has a 12 month low of $83.03 and a 12 month high of $119.13. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. The stock’s 50-day moving average is $99.15 and its 200-day moving average is $102.53.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 EPS for the quarter, missing the consensus estimate of $2.99 by ($1.57). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. The business had revenue of $430.90 million during the quarter, compared to analysts’ expectations of $520.42 million. During the same quarter in the previous year, the business posted $0.74 EPS. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.24%. PennyMac Financial Services’s payout ratio is 20.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Piper Sandler decreased their price objective on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. UBS Group lowered their price target on PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price objective on the stock in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, PennyMac Financial Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $120.86.

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.