Alyeska Investment Group L.P. Sells 231,164 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Alyeska Investment Group L.P. reduced its stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 70.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 98,162 shares of the real estate investment trust's stock after selling 231,164 shares during the period. Alyeska Investment Group L.P. owned 0.19% of PennyMac Financial Services worth $10,026,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PFSI. TD Waterhouse Canada Inc. acquired a new stake in PennyMac Financial Services during the 4th quarter worth approximately $39,000. Sterling Capital Management LLC lifted its holdings in shares of PennyMac Financial Services by 601.8% during the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock worth $41,000 after buying an additional 343 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in shares of PennyMac Financial Services in the fourth quarter valued at about $71,000. Parkside Financial Bank & Trust grew its stake in shares of PennyMac Financial Services by 54.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust's stock valued at $112,000 after acquiring an additional 389 shares in the last quarter. Finally, KBC Group NV increased its position in PennyMac Financial Services by 15.6% during the fourth quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust's stock worth $158,000 after acquiring an additional 209 shares during the period. 57.87% of the stock is owned by institutional investors.

PennyMac Financial Services Price Performance

Shares of PFSI traded down $0.71 during mid-day trading on Friday, reaching $97.67. The company had a trading volume of 230,402 shares, compared to its average volume of 305,796. The company has a market capitalization of $5.02 billion, a price-to-earnings ratio of 16.72, a P/E/G ratio of 0.19 and a beta of 1.60. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. The company's 50 day simple moving average is $97.70 and its 200 day simple moving average is $101.58. PennyMac Financial Services, Inc. has a 1-year low of $85.74 and a 1-year high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share for the quarter, missing analysts' consensus estimates of $2.99 by ($1.57). The company had revenue of $430.90 million during the quarter, compared to analyst estimates of $520.42 million. PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. During the same quarter in the prior year, the business earned $0.74 EPS. Analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Wednesday, May 14th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.23%. PennyMac Financial Services's payout ratio is presently 18.40%.

Insider Buying and Selling at PennyMac Financial Services

In related news, CEO David Spector sold 5,000 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $103.44, for a total transaction of $517,200.00. Following the sale, the chief executive officer now directly owns 150,604 shares in the company, valued at $15,578,477.76. This trade represents a 3.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph F. Mazzella sold 11,000 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $98.23, for a total transaction of $1,080,530.00. Following the sale, the director now directly owns 92,863 shares in the company, valued at $9,121,932.49. The trade was a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,464 shares of company stock worth $5,621,397. 16.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on PFSI. Wells Fargo & Company decreased their target price on shares of PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. UBS Group lowered their price objective on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Piper Sandler cut their target price on PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price target on the stock in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, PennyMac Financial Services presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.17.

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.