Public Employees Retirement Association of Colorado Reduces Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Public Employees Retirement Association of Colorado reduced its position in PennyMac Financial Services, Inc. (NYSE:PFSI) by 56.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,173 shares of the real estate investment trust’s stock after selling 5,373 shares during the period. Public Employees Retirement Association of Colorado’s holdings in PennyMac Financial Services were worth $426,000 at the end of the most recent quarter.

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

PennyMac Financial Services Trading Down 0.3 %

Shares of NYSE PFSI opened at $97.15 on Friday. The company has a market cap of $5.00 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73. The stock’s 50 day simple moving average is $98.33 and its 200 day simple moving average is $102.01. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. PennyMac Financial Services, Inc. has a 12-month low of $85.74 and a 12-month high of $119.13.

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

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, May 14th. PennyMac Financial Services’s payout ratio is 18.40%.

Wall Street Analyst Weigh In

A number of research analysts have commented on PFSI shares. 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 research note on Tuesday, April 8th. UBS Group reduced their price target on shares of PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Piper Sandler lowered their price objective on PennyMac Financial Services from $130.00 to $128.00 and set an “overweight” rating for the company in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company cut their price objective on PennyMac Financial Services from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $121.17.

Insiders Place Their Bets

In related news, insider James Follette sold 1,983 shares of the company’s 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 $1,048,965.21. This represents a 15.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Spector sold 5,000 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $103.44, for a total transaction of $517,200.00. Following the completion of the transaction, the chief executive officer now owns 150,604 shares of the company’s stock, valued at $15,578,477.76. This represents a 3.21 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,464 shares of company stock worth $4,540,867. Insiders own 16.60% of the company’s stock.

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.