PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP grew its stake in PennyMac Financial Services, Inc. (NYSE:PFSI – Get Rating) by 8.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,016,168 shares of the real estate investment trust’s stock after purchasing an additional 152,763 shares during the period. Dimensional Fund Advisors LP’s holdings in PennyMac Financial Services were worth $114,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in PFSI. Acadian Asset Management LLC purchased a new position in PennyMac Financial Services in the first quarter worth approximately $519,000. MetLife Investment Management LLC grew its position in PennyMac Financial Services by 39.6% in the first quarter. MetLife Investment Management LLC now owns 15,934 shares of the real estate investment trust’s stock worth $848,000 after acquiring an additional 4,522 shares during the period. LSV Asset Management grew its position in PennyMac Financial Services by 12.3% in the first quarter. LSV Asset Management now owns 53,212 shares of the real estate investment trust’s stock worth $2,831,000 after acquiring an additional 5,846 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of PennyMac Financial Services by 19.9% during the first quarter. Canada Pension Plan Investment Board now owns 2,932 shares of the real estate investment trust’s stock worth $156,000 after buying an additional 486 shares during the period. Finally, Ergoteles LLC purchased a new position in shares of PennyMac Financial Services during the first quarter worth $213,000. 67.03% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Financial Services Stock Down 2.2 %

PFSI opened at $63.23 on Friday. The business’s 50-day simple moving average is $60.08 and its 200-day simple moving average is $60.02. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.53 and a current ratio of 0.53. PennyMac Financial Services, Inc. has a one year low of $38.53 and a one year high of $73.79. The stock has a market capitalization of $3.16 billion, a P/E ratio of 10.50 and a beta of 1.47.

PennyMac Financial Services (NYSE:PFSI – Get Rating) last announced its quarterly earnings data on Thursday, April 27th. The real estate investment trust reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.63). The business had revenue of $302.90 million during the quarter, compared to analysts’ expectations of $354.08 million. PennyMac Financial Services had a net margin of 20.37% and a return on equity of 9.86%. PennyMac Financial Services’s revenue for the quarter was down 53.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.94 EPS. Analysts anticipate that PennyMac Financial Services, Inc. will post 5.43 EPS for the current year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Stockholders of record on Tuesday, May 16th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.27%. The ex-dividend date of this dividend is Monday, May 15th. PennyMac Financial Services’s dividend payout ratio (DPR) is 13.29%.

Insider Transactions at PennyMac Financial Services

In other news, CFO Daniel Stanley Perotti sold 2,523 shares of the business’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $57.13, for a total transaction of $144,138.99. Following the sale, the chief financial officer now owns 30,343 shares of the company’s stock, valued at approximately $1,733,495.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Steven Richard Bailey sold 13,604 shares of PennyMac Financial Services stock in a transaction that occurred 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 transaction, the insider now directly owns 8,900 shares in the company, valued at approximately $540,230. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel Stanley Perotti sold 2,523 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $57.13, for a total value of $144,138.99. Following the transaction, the chief financial officer now owns 30,343 shares of the company’s stock, valued at $1,733,495.59. The disclosure for this sale can be found here. Insiders have sold 104,314 shares of company stock valued at $6,336,073 in the last quarter. 17.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PFSI has been the subject of several research analyst reports. TheStreet lowered PennyMac Financial Services from a “b” rating to a “c” rating in a research report on Friday, April 28th. Piper Sandler lowered their price target on PennyMac Financial Services from $83.00 to $82.00 in a research report on Friday, April 28th. StockNews.com initiated coverage on PennyMac Financial Services in a research report on Thursday. They set a “sell” rating for the company. Finally, Barclays raised their price target on 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. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $72.75.

PennyMac Financial Services Profile

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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.