LSV Asset Management Sells 5,800 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

LSV Asset Management cut its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 37.4% in the second quarter, HoldingsChannel reports. The firm owned 9,700 shares of the real estate investment trust’s stock after selling 5,800 shares during the period. LSV Asset Management’s holdings in PennyMac Financial Services were worth $918,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PFSI. Charles Schwab Investment Management Inc. raised its position in PennyMac Financial Services by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 396,745 shares of the real estate investment trust’s stock valued at $35,060,000 after purchasing an additional 3,947 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of PennyMac Financial Services by 45.6% in the 4th quarter. Principal Financial Group Inc. now owns 162,541 shares of the real estate investment trust’s stock valued at $14,364,000 after acquiring an additional 50,877 shares during the period. Navellier & Associates Inc. purchased a new position in shares of PennyMac Financial Services in the 4th quarter valued at $221,000. Norges Bank purchased a new position in shares of PennyMac Financial Services in the 4th quarter valued at $31,258,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of PennyMac Financial Services in the 4th quarter valued at $1,019,000. 57.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PFSI shares. Piper Sandler lifted their price target on PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Wedbush lifted their price target on PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods downgraded PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price target on the stock. in a report on Monday, July 22nd. Finally, StockNews.com downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $107.17.

PennyMac Financial Services Stock Up 3.6 %

Shares of PFSI stock opened at $111.19 on Friday. PennyMac Financial Services, Inc. has a 1-year low of $62.15 and a 1-year high of $111.43. The stock’s fifty day moving average price is $100.34 and its 200 day moving average price is $93.46. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market cap of $5.66 billion, a price-to-earnings ratio of 38.61, a price-to-earnings-growth ratio of 0.69 and a beta of 1.77.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The firm had revenue of $406.13 million for the quarter, compared to analyst estimates of $469.64 million. During the same period in the prior year, the firm posted $1.11 EPS. The business’s revenue was up 20.7% compared to the same quarter last year. On average, research analysts expect that PennyMac Financial Services, Inc. will post 10.54 earnings per share for the current fiscal year.

PennyMac Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were given a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.08%. This is a boost from PennyMac Financial Services’s previous quarterly dividend of $0.20. PennyMac Financial Services’s payout ratio is currently 41.67%.

Insiders Place Their Bets

In other PennyMac Financial Services news, Director Anne Mccallion sold 23,829 shares of PennyMac Financial Services stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $103.14, for a total transaction of $2,457,723.06. Following the completion of the sale, the director now owns 1,854 shares of the company’s stock, valued at approximately $191,221.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Anne Mccallion sold 23,829 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $103.14, for a total value of $2,457,723.06. Following the completion of the transaction, the director now owns 1,854 shares of the company’s stock, valued at approximately $191,221.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Spector sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $99.31, for a total value of $993,100.00. Following the completion of the transaction, the chief executive officer now directly owns 210,604 shares of the company’s stock, valued at approximately $20,915,083.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,225 shares of company stock valued at $5,487,319. 16.60% of the stock is owned by company insiders.

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.