South Dakota Investment Council Cuts Stake in PennyMac Financial Services, Inc. $PFSI

South Dakota Investment Council lessened its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 44.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 42,138 shares of the real estate investment trust’s stock after selling 34,229 shares during the quarter. South Dakota Investment Council’s holdings in PennyMac Financial Services were worth $5,220,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC increased its stake in PennyMac Financial Services by 3.8% during the 1st quarter. AQR Capital Management LLC now owns 24,012 shares of the real estate investment trust’s stock valued at $2,404,000 after purchasing an additional 875 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of PennyMac Financial Services by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,923 shares of the real estate investment trust’s stock valued at $1,594,000 after acquiring an additional 706 shares in the last quarter. Intech Investment Management LLC raised its holdings in PennyMac Financial Services by 5.8% in the 1st quarter. Intech Investment Management LLC now owns 15,382 shares of the real estate investment trust’s stock worth $1,540,000 after acquiring an additional 840 shares during the last quarter. Strs Ohio purchased a new stake in PennyMac Financial Services during the 1st quarter valued at $30,000. Finally, Teacher Retirement System of Texas boosted its stake in PennyMac Financial Services by 4.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 4,687 shares of the real estate investment trust’s stock valued at $467,000 after purchasing an additional 191 shares during the last quarter. 57.87% of the stock is owned by hedge funds and other institutional investors.

PennyMac Financial Services Trading Down 0.7%

PennyMac Financial Services stock opened at $89.75 on Wednesday. PennyMac Financial Services, Inc. has a 52-week low of $85.74 and a 52-week high of $160.36. The company has a market cap of $4.68 billion, a P/E ratio of 9.65, a P/E/G ratio of 0.51 and a beta of 1.56. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 3.32. The business has a 50-day simple moving average of $120.20 and a two-hundred day simple moving average of $122.37.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $1.97 earnings per share for the quarter, missing the consensus estimate of $3.23 by ($1.26). The business had revenue of $538.01 million during the quarter, compared to the consensus estimate of $639.81 million. PennyMac Financial Services had a return on equity of 10.20% and a net margin of 24.48%.PennyMac Financial Services’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter last year, the company earned $1.95 EPS. Analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Monday, February 16th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.3%. PennyMac Financial Services’s payout ratio is presently 12.90%.

Insider Transactions at PennyMac Financial Services

In other news, insider Derek Stark sold 1,066 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $87.66, for a total value of $93,445.56. Following the transaction, the insider owned 20,944 shares of the company’s stock, valued at $1,835,951.04. This trade represents a 4.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $94.50, for a total value of $945,000.00. Following the transaction, the chief executive officer directly owned 90,604 shares in the company, valued at approximately $8,562,078. The trade was a 9.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 37,374 shares of company stock worth $4,329,946 over the last three months. 15.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on PFSI. Piper Sandler decreased their price target on PennyMac Financial Services from $168.00 to $137.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Weiss Ratings cut shares of PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, January 20th. Jefferies Financial Group started coverage on shares of PennyMac Financial Services in a report on Friday, December 19th. They set a “buy” rating and a $160.00 price target on the stock. BTIG Research reissued a “buy” rating on shares of PennyMac Financial Services in a report on Friday, January 30th. Finally, Barclays lowered their price objective on shares of PennyMac Financial Services from $158.00 to $136.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, PennyMac Financial Services presently has a consensus rating of “Hold” and a consensus price target of $139.71.

PennyMac Financial Services Company 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.