PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System decreased its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 28.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,431 shares of the real estate investment trust's stock after selling 11,308 shares during the quarter. California State Teachers Retirement System owned approximately 0.06% of PennyMac Financial Services worth $2,904,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. acquired a new stake in shares of PennyMac Financial Services during the 4th quarter worth $39,000. Sterling Capital Management LLC grew its position in 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 valued at $41,000 after acquiring an additional 343 shares during the period. Aquatic Capital Management LLC purchased a new stake in PennyMac Financial Services during the fourth quarter valued at about $71,000. Parkside Financial Bank & Trust increased its stake in 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 acquiring an additional 389 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of 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 worth $158,000 after purchasing an additional 209 shares during the period. Hedge funds and other institutional investors own 57.87% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wells Fargo & Company decreased their target price on PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Piper Sandler decreased their price objective on shares of PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. 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. Finally, UBS Group decreased their price target 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $121.17.

PennyMac Financial Services Stock Up 0.3%

NYSE PFSI traded up $0.31 on Monday, reaching $96.00. The company had a trading volume of 203,927 shares, compared to its average volume of 313,490. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. PennyMac Financial Services, Inc. has a 1 year low of $85.74 and a 1 year high of $119.13. The firm has a 50-day moving average of $96.64 and a 200-day moving average of $100.84. The firm has a market capitalization of $4.96 billion, a PE ratio of 16.44, a P/E/G ratio of 0.19 and a beta of 1.55.

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 EPS 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 analyst estimates 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 period in the previous year, the firm posted $0.74 earnings per share. On average, equities research analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Wednesday, May 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.25%. PennyMac Financial Services's dividend payout ratio is currently 18.40%.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, insider Mark Elbaum sold 410 shares of the company's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $102.88, for a total value of $42,180.80. Following the transaction, the insider now directly owns 4,207 shares of the company's stock, valued at $432,816.16. This represents a 8.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph F. Mazzella sold 11,000 shares of the firm'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 of the company's stock, valued at $9,121,932.49. The trade was a 10.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,579 shares of company stock valued at $3,453,592 in the last ninety days. Insiders own 15.80% of the company's stock.

PennyMac Financial Services Company 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.