UBS Group AG Sells 81,818 Shares of PennyMac Financial Services, Inc. $PFSI

UBS Group AG trimmed its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 49.2% in the fourth quarter, HoldingsChannel reports. The firm owned 84,539 shares of the real estate investment trust’s stock after selling 81,818 shares during the period. UBS Group AG’s holdings in PennyMac Financial Services were worth $11,146,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new stake in PennyMac Financial Services in the second quarter worth $26,000. Strs Ohio acquired a new stake in PennyMac Financial Services in the first quarter worth $30,000. GAMMA Investing LLC grew its holdings in PennyMac Financial Services by 97.3% in the fourth quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 142 shares during the period. CWM LLC grew its holdings in PennyMac Financial Services by 92.7% in the third quarter. CWM LLC now owns 555 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 267 shares during the period. Finally, Covestor Ltd grew its holdings in PennyMac Financial Services by 95.5% in the third quarter. Covestor Ltd now owns 567 shares of the real estate investment trust’s stock worth $70,000 after purchasing an additional 277 shares during the period. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Derek Stark sold 1,903 shares of PennyMac Financial Services stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $91.50, for a total transaction of $174,124.50. Following the completion of the transaction, the insider directly owned 22,477 shares in the company, valued at $2,056,645.50. This trade represents a 7.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Spector sold 12,436 shares of PennyMac Financial Services stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $86.39, for a total transaction of $1,074,346.04. Following the transaction, the chief executive officer owned 529,401 shares of the company’s stock, valued at $45,734,952.39. This represents a 2.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 61,280 shares of company stock worth $5,510,753 over the last three months. 15.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PFSI has been the subject of a number of research reports. Weiss Ratings cut shares of PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Keefe, Bruyette & Woods reduced their price target on shares of PennyMac Financial Services from $115.00 to $108.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Piper Sandler reduced their price target on shares of PennyMac Financial Services from $122.00 to $112.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Wells Fargo & Company reduced their price target on shares of PennyMac Financial Services from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Six research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $122.75.

PennyMac Financial Services Stock Down 2.5%

Shares of NYSE PFSI opened at $85.63 on Friday. The stock has a market capitalization of $4.45 billion, a P/E ratio of 9.10, a P/E/G ratio of 0.57 and a beta of 1.49. The company has a 50-day moving average price of $88.74 and a 200-day moving average price of $111.74. PennyMac Financial Services, Inc. has a 1 year low of $82.65 and a 1 year high of $160.36. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.33 and a quick ratio of 0.34.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.22 by ($0.03). The business had revenue of $544.98 million for the quarter, compared to analyst estimates of $546.17 million. PennyMac Financial Services had a net margin of 23.47% and a return on equity of 10.93%. The firm’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.42 earnings per share. On average, equities research analysts forecast that PennyMac Financial Services, Inc. will post 10.68 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Stockholders of record on Monday, May 18th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, May 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 12.75%.

PennyMac Financial Services Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.