PennyMac Financial Services, Inc. $PFSI Position Trimmed by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC decreased its position in PennyMac Financial Services by 3.7%, selling 4,510 shares, and now holds about 116,430 shares valued at approximately $11.66 million.
• PennyMac Financial Services reported a loss in earnings per share of $1.02 for the last quarter, missing estimates significantly, alongside revenues of $444.73 million, which were below analyst expectations.
• The company announced a quarterly dividend of $0.30 per share, reflecting a 1.1% dividend yield, with an ex-dividend date set for August 13th.

Brandywine Global Investment Management LLC decreased its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 116,430 shares of the real estate investment trust's stock after selling 4,510 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.23% of PennyMac Financial Services worth $11,656,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC lifted its holdings in PennyMac Financial Services by 71.5% in the first quarter. CWM LLC now owns 271 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 113 shares during the period. TD Waterhouse Canada Inc. acquired a new stake in PennyMac Financial Services in the fourth quarter worth about $39,000. Sterling Capital Management LLC lifted its holdings in PennyMac Financial Services by 601.8% in the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock worth $41,000 after purchasing an additional 343 shares during the period. Aquatic Capital Management LLC acquired a new stake in PennyMac Financial Services in the fourth quarter worth about $71,000. Finally, Xponance Inc. acquired a new stake in PennyMac Financial Services in the first quarter worth about $202,000. Institutional investors and hedge funds own 57.87% of the company's stock.

PennyMac Financial Services Trading Down 1.8%

NYSE PFSI traded down $1.87 on Thursday, hitting $103.42. 444,240 shares of the company were exchanged, compared to its average volume of 377,510. The company's 50 day moving average price is $99.43 and its 200-day moving average price is $98.92. The company has a debt-to-equity ratio of 3.03, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market capitalization of $5.35 billion, a P/E ratio of 14.34 and a beta of 1.50. PennyMac Financial Services, Inc. has a twelve month low of $85.74 and a twelve month high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 22nd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.01 by ($1.99). The company had revenue of $444.73 million for the quarter, compared to analyst estimates of $547.44 million. PennyMac Financial Services had a return on equity of 12.18% and a net margin of 22.00%.PennyMac Financial Services's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.85 EPS. Analysts predict that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Wednesday, August 13th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, August 13th. PennyMac Financial Services's payout ratio is presently 16.64%.

Insider Activity

In other PennyMac Financial Services news, CEO David Spector sold 5,000 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $105.73, for a total transaction of $528,650.00. Following the sale, the chief executive officer owned 130,604 shares in the company, valued at approximately $13,808,760.92. The trade was a 3.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph F. Mazzella sold 7,107 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $108.16, for a total value of $768,693.12. Following the sale, the director owned 86,050 shares in the company, valued at approximately $9,307,168. The trade was a 7.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,107 shares of company stock worth $2,292,843. Corporate insiders own 15.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PFSI shares. Barclays reduced their price objective on shares of PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating for the company in a report on Tuesday, July 8th. Wall Street Zen downgraded shares of PennyMac Financial Services from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. Keefe, Bruyette & Woods reduced their price objective on shares of PennyMac Financial Services from $121.00 to $117.00 and set an "outperform" rating for the company in a report on Thursday, July 24th. UBS Group reduced their price objective on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a report on Thursday, July 24th. Finally, Piper Sandler dropped their price target on shares of PennyMac Financial Services from $125.00 to $121.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 23rd. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $118.67.

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.