Alliancebernstein L.P. Has $9.30 Million Stake in PennyMac Financial Services, Inc. (NYSE:PFSI)

Alliancebernstein L.P. reduced its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,043 shares of the real estate investment trust’s stock after selling 3,516 shares during the quarter. Alliancebernstein L.P. owned approximately 0.18% of PennyMac Financial Services worth $9,299,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Parkside Financial Bank & Trust raised its stake in shares of PennyMac Financial Services by 54.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 389 shares during the last quarter. KBC Group NV increased its holdings in shares of PennyMac Financial Services by 15.6% in the fourth quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock valued at $158,000 after purchasing an additional 209 shares in the last quarter. Verition Fund Management LLC acquired a new position in PennyMac Financial Services during the 3rd quarter worth $203,000. Hohimer Wealth Management LLC bought a new position in PennyMac Financial Services in the 3rd quarter valued at $236,000. Finally, Cibc World Markets Corp bought a new position in PennyMac Financial Services in the 4th quarter valued at $255,000. 57.87% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price target on the stock in a research note on Tuesday. Piper Sandler cut their target price on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, PennyMac Financial Services presently has an average rating of “Moderate Buy” and a consensus price target of $122.67.

Insider Activity

In other PennyMac Financial Services news, CRO Abbie Tidmore sold 2,669 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $102.55, for a total value of $273,705.95. Following the transaction, the executive now owns 4,878 shares of the company’s stock, valued at approximately $500,238.90. The trade was a 35.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $101.49, for a total transaction of $1,065,645.00. Following the completion of the transaction, the chief financial officer now owns 214,997 shares of the company’s stock, valued at $21,820,045.53. This trade represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,464 shares of company stock valued at $4,540,867 in the last quarter. Company insiders own 16.60% of the company’s stock.

PennyMac Financial Services Trading Down 5.5 %

NYSE PFSI opened at $89.31 on Friday. PennyMac Financial Services, Inc. has a 12 month low of $83.03 and a 12 month high of $119.13. The stock has a 50-day simple moving average of $100.31 and a 200 day simple moving average of $103.40. 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 company has a market capitalization of $4.59 billion, a PE ratio of 15.29, a P/E/G ratio of 0.19 and a beta of 1.73.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. Research analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.34%. PennyMac Financial Services’s dividend 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.