PennyMac Financial Services, Inc. (NYSE:PFSI) Holdings Cut by LSV Asset Management

LSV Asset Management decreased its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 40.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 15,500 shares of the real estate investment trust’s stock after selling 10,712 shares during the quarter. LSV Asset Management’s holdings in PennyMac Financial Services were worth $1,370,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hexagon Capital Partners LLC raised its holdings in shares of PennyMac Financial Services by 128.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 205 shares in the last quarter. Parkside Financial Bank & Trust bought a new position in shares of PennyMac Financial Services during the 4th quarter valued at $36,000. Saxon Interests Inc. bought a new position in shares of PennyMac Financial Services during the 4th quarter valued at $208,000. Foster & Motley Inc. bought a new position in shares of PennyMac Financial Services during the 4th quarter valued at $234,000. Finally, Contravisory Investment Management Inc. bought a new position in shares of PennyMac Financial Services during the 4th quarter valued at $252,000. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Trading Up 2.2 %

Shares of PFSI stock opened at $93.80 on Friday. PennyMac Financial Services, Inc. has a 12-month low of $56.60 and a 12-month high of $94.78. The company has a market capitalization of $4.73 billion, a P/E ratio of 32.57, a P/E/G ratio of 0.59 and a beta of 1.68. The firm has a 50-day moving average price of $88.47 and a 200 day moving average price of $84.51. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.33.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. The company had revenue of $305.66 million during the quarter, compared to the consensus estimate of $422.87 million. Research analysts forecast that PennyMac Financial Services, Inc. will post 10.55 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Monday, May 13th. PennyMac Financial Services’s dividend payout ratio is 27.78%.

Insider Activity

In other news, Director Joseph F. Mazzella sold 16,465 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $90.73, for a total value of $1,493,869.45. Following the completion of the transaction, the director now owns 116,546 shares in the company, valued at $10,574,218.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Joseph F. Mazzella sold 16,465 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $90.73, for a total value of $1,493,869.45. Following the sale, the director now owns 116,546 shares of the company’s stock, valued at $10,574,218.58. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider James Follette sold 2,617 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $86.24, for a total transaction of $225,690.08. Following the completion of the sale, the insider now directly owns 7,257 shares in the company, valued at approximately $625,843.68. The disclosure for this sale can be found here. Insiders sold 104,267 shares of company stock worth $9,159,977 over the last quarter. 16.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on PFSI. Barclays raised their target price on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. Keefe, Bruyette & Woods lowered their target price on shares of PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Wedbush restated an “outperform” rating and issued a $110.00 price target on shares of PennyMac Financial Services in a research report on Thursday, April 25th. Finally, StockNews.com upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.75.

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.