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

Alyeska Investment Group L.P. trimmed its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 70.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm 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 about 0.19% of PennyMac Financial Services worth $10,026,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. TD Waterhouse Canada Inc. bought a new position in shares of PennyMac Financial Services during the 4th quarter worth approximately $39,000. Sterling Capital Management LLC boosted its holdings in shares of PennyMac Financial Services by 601.8% during the 4th 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 during the period. Aquatic Capital Management LLC acquired a new position in shares of PennyMac Financial Services in the fourth quarter valued at approximately $71,000. Parkside Financial Bank & Trust lifted its holdings in shares of PennyMac Financial Services by 54.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust's stock worth $112,000 after buying an additional 389 shares in the last quarter. Finally, KBC Group NV boosted its holdings in PennyMac Financial Services by 15.6% in the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust's stock valued at $158,000 after purchasing an additional 209 shares during the period. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Daniel Stanley Perotti sold 10,500 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $101.49, for a total value of $1,065,645.00. Following the transaction, the chief financial officer now directly owns 214,997 shares in the company, valued at $21,820,045.53. The trade was a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph F. Mazzella sold 11,000 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $98.23, for a total transaction of $1,080,530.00. Following the transaction, the director now directly owns 92,863 shares of the company's stock, 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 ninety days, insiders sold 55,464 shares of company stock valued at $5,621,397. Insiders own 16.60% of the company's stock.

Wall Street Analysts Forecast Growth

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

PennyMac Financial Services Price Performance

NYSE:PFSI traded down $0.71 during mid-day trading on Friday, reaching $97.67. The stock had a trading volume of 230,402 shares, compared to its average volume of 305,407. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. PennyMac Financial Services, Inc. has a one year low of $85.74 and a one year high of $119.13. The firm has a 50 day moving average price of $97.70 and a two-hundred day moving average price of $101.57. The stock has a market capitalization of $5.02 billion, a P/E ratio of 16.72, a P/E/G ratio of 0.19 and a beta of 1.60.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted 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 firm had revenue of $430.90 million for the quarter, compared to analysts' expectations of $520.42 million. PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. During the same quarter in the prior year, the company posted $0.74 earnings per share. As a group, analysts expect that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

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

About PennyMac Financial Services

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.