First Trust Advisors LP lowered its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI – Get Rating) by 7.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 82,473 shares of the real estate investment trust’s stock after selling 6,776 shares during the period. First Trust Advisors LP owned approximately 0.16% of PennyMac Financial Services worth $4,673,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. South Dakota Investment Council acquired a new position in shares of PennyMac Financial Services during the fourth quarter valued at about $1,700,000. Trexquant Investment LP acquired a new position in shares of PennyMac Financial Services during the third quarter valued at about $1,103,000. Dimensional Fund Advisors LP raised its position in PennyMac Financial Services by 24.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,863,405 shares of the real estate investment trust’s stock worth $79,941,000 after purchasing an additional 360,101 shares in the last quarter. FJ Capital Management LLC acquired a new position in PennyMac Financial Services in the fourth quarter worth about $969,000. Finally, New York State Common Retirement Fund raised its position in PennyMac Financial Services by 16.2% in the fourth quarter. New York State Common Retirement Fund now owns 46,438 shares of the real estate investment trust’s stock worth $2,631,000 after purchasing an additional 6,465 shares in the last quarter. Institutional investors and hedge funds own 67.03% of the company’s stock.
PennyMac Financial Services Stock Performance
NYSE PFSI opened at $60.40 on Friday. The firm has a market cap of $3.02 billion, a price-to-earnings ratio of 10.03 and a beta of 1.47. The company has a 50 day moving average of $60.41 and a 200-day moving average of $60.35. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 2.34. PennyMac Financial Services, Inc. has a 1-year low of $38.53 and a 1-year high of $73.79.
PennyMac Financial Services Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, May 26th. Stockholders of record on Tuesday, May 16th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, May 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.32%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 13.29%.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on PFSI shares. TheStreet lowered shares of PennyMac Financial Services from a “b” rating to a “c” rating in a research report on Friday, April 28th. Barclays increased their price target on shares of PennyMac Financial Services from $58.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Friday, February 3rd. Piper Sandler dropped their price target on shares of PennyMac Financial Services from $83.00 to $82.00 in a research report on Friday, April 28th. Finally, StockNews.com started coverage on shares of PennyMac Financial Services in a research report on Thursday, May 18th. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, PennyMac Financial Services currently has an average rating of “Hold” and an average target price of $75.33.
Insider Activity
In other news, insider Steven Richard Bailey sold 13,604 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $60.70, for a total transaction of $825,762.80. Following the sale, the insider now directly owns 8,900 shares of the company’s stock, valued at $540,230. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other PennyMac Financial Services news, CEO David Spector sold 15,000 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $60.80, for a total value of $912,000.00. Following the sale, the chief executive officer now directly owns 450,604 shares in the company, valued at $27,396,723.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven Richard Bailey sold 13,604 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $60.70, for a total transaction of $825,762.80. Following the completion of the sale, the insider now owns 8,900 shares in the company, valued at $540,230. The disclosure for this sale can be found here. Insiders have sold 124,134 shares of company stock valued at $7,572,642 over the last three months. 17.40% of the stock is owned by insiders.
PennyMac Financial Services Profile
PennyMac Financial Services, Inc operates as a holding company, which engages in the production and servicing of U.S. residential mortgage loans. It operates through the following segments: Production, Servicing, and Investment Management. The Production segment includes mortgage loan origination, acquisition, and sale activities.
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