State of New Jersey Common Pension Fund D Sells 10,415 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

State of New Jersey Common Pension Fund D decreased its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 32.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,755 shares of the real estate investment trust’s stock after selling 10,415 shares during the period. State of New Jersey Common Pension Fund D’s holdings in PennyMac Financial Services were worth $2,058,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Quadrature Capital Ltd acquired a new stake in PennyMac Financial Services during the 4th quarter valued at $967,000. UBS Group AG boosted its holdings in shares of PennyMac Financial Services by 40.6% during the 4th quarter. UBS Group AG now owns 82,027 shares of the real estate investment trust’s stock worth $7,249,000 after buying an additional 23,696 shares during the period. Campbell & CO Investment Adviser LLC grew its stake in PennyMac Financial Services by 165.0% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 24,753 shares of the real estate investment trust’s stock valued at $2,187,000 after buying an additional 15,412 shares during the last quarter. Denali Advisors LLC lifted its position in PennyMac Financial Services by 179.2% during the first quarter. Denali Advisors LLC now owns 41,600 shares of the real estate investment trust’s stock worth $3,789,000 after acquiring an additional 26,700 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of PennyMac Financial Services by 91.3% during the first quarter. Russell Investments Group Ltd. now owns 19,246 shares of the real estate investment trust’s stock worth $1,753,000 after acquiring an additional 9,183 shares during the period. 57.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Transactions at PennyMac Financial Services

In other news, CEO David Spector sold 10,000 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.79, for a total value of $1,167,900.00. Following the completion of the transaction, the chief executive officer now owns 200,604 shares of the company’s stock, valued at $23,428,541.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PennyMac Financial Services news, insider Steven Richard Bailey sold 14,130 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $116.88, for a total value of $1,651,514.40. Following the completion of the transaction, the insider now owns 14,670 shares of the company’s stock, valued at approximately $1,714,629.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $116.79, for a total value of $1,167,900.00. Following the sale, the chief executive officer now directly owns 200,604 shares in the company, valued at $23,428,541.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,355 shares of company stock valued at $8,306,734. Corporate insiders own 16.60% of the company’s stock.

PennyMac Financial Services Stock Down 1.6 %

PFSI stock opened at $111.79 on Friday. PennyMac Financial Services, Inc. has a 52 week low of $62.15 and a 52 week high of $119.13. The business has a 50-day simple moving average of $102.58 and a 200 day simple moving average of $94.52. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.75. The company has a market cap of $5.72 billion, a PE ratio of 38.82, a price-to-earnings-growth ratio of 0.75 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 earnings per share for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). The firm had revenue of $406.13 million for the quarter, compared to the consensus estimate of $469.64 million. PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The business’s revenue was up 20.7% on a year-over-year basis. During the same period last year, the company posted $1.11 EPS. Sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 10.61 EPS for the current fiscal year.

PennyMac Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were paid a $0.30 dividend. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.07%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 41.67%.

PennyMac Financial Services Company 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.