PennyMac Financial Services, Inc. (NYSE:PFSI) Stock Holdings Lessened by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. trimmed its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 9.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,324 shares of the real estate investment trust’s stock after selling 3,532 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.07% of PennyMac Financial Services worth $3,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in PFSI. Barclays PLC lifted its position in shares of PennyMac Financial Services by 505.4% in the third quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust’s stock worth $6,859,000 after purchasing an additional 50,238 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of PennyMac Financial Services by 27.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 27,206 shares of the real estate investment trust’s stock worth $2,779,000 after purchasing an additional 5,833 shares in the last quarter. Dakota Wealth Management lifted its position in shares of PennyMac Financial Services by 2.6% in the fourth quarter. Dakota Wealth Management now owns 14,578 shares of the real estate investment trust’s stock worth $1,489,000 after purchasing an additional 374 shares in the last quarter. KBC Group NV lifted its position 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 worth $158,000 after purchasing an additional 209 shares in the last quarter. Finally, Precision Wealth Strategies LLC purchased a new stake in shares of PennyMac Financial Services in the fourth quarter worth approximately $367,000. 57.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PFSI. UBS Group reduced their price target on shares of PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating for the company in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods upgraded 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. Wells Fargo & Company dropped their price objective on PennyMac Financial Services from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Finally, Piper Sandler dropped their price objective on PennyMac Financial Services from $130.00 to $128.00 and set an “overweight” rating on the stock in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, PennyMac Financial Services currently has a consensus rating of “Moderate Buy” and an average target price of $121.17.

PennyMac Financial Services Trading Down 0.7%

NYSE:PFSI opened at $98.89 on Thursday. The stock’s 50 day moving average price is $97.53 and its 200 day moving average price is $101.54. PennyMac Financial Services, Inc. has a 52 week low of $85.74 and a 52 week high of $119.13. The company has a market capitalization of $5.11 billion, a P/E ratio of 16.93, a P/E/G ratio of 0.19 and a beta of 1.60. 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 (NYSE:PFSI) last released its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 EPS for the quarter, missing analysts’ consensus estimates of $2.99 by ($1.57). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. The firm had revenue of $430.90 million during the quarter, compared to analyst estimates of $520.42 million. During the same quarter in the prior year, the company posted $0.74 EPS. On average, research analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Wednesday, May 14th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.20 annualized dividend and a yield of 1.21%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 18.40%.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 10,500 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $101.49, for a total transaction of $1,065,645.00. Following the transaction, the chief financial officer now owns 214,997 shares in the company, valued at $21,820,045.53. This trade represents a 4.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph F. Mazzella sold 11,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $98.23, for a total value of $1,080,530.00. Following the transaction, the director now owns 92,863 shares in the company, valued at approximately $9,121,932.49. This trade represents a 10.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 55,464 shares of company stock worth $5,621,397 over the last 90 days. Insiders own 16.60% of the company’s stock.

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.