PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its position in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 312,685 shares of the real estate investment trust's stock after selling 7,565 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.61% of PennyMac Financial Services worth $31,303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Hohimer Wealth Management LLC lifted its holdings in PennyMac Financial Services by 5.4% in the first quarter. Hohimer Wealth Management LLC now owns 2,351 shares of the real estate investment trust's stock valued at $235,000 after buying an additional 121 shares during the period. CWM LLC raised its holdings in shares of PennyMac Financial Services by 71.5% during the first quarter. CWM LLC now owns 271 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 113 shares during the period. New York State Common Retirement Fund raised its holdings in shares of PennyMac Financial Services by 1.2% during the first quarter. New York State Common Retirement Fund now owns 71,944 shares of the real estate investment trust's stock valued at $7,202,000 after purchasing an additional 879 shares during the period. Xponance Inc. acquired a new position in shares of PennyMac Financial Services during the first quarter valued at about $202,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of PennyMac Financial Services by 45.9% during the first quarter. Bank of New York Mellon Corp now owns 290,235 shares of the real estate investment trust's stock valued at $29,055,000 after purchasing an additional 91,338 shares during the period. Institutional investors and hedge funds own 57.87% of the company's stock.

Insiders Place Their Bets

In related news, CEO David Spector sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $100.81, for a total value of $504,050.00. Following the completion of the transaction, the chief executive officer directly owned 135,604 shares of the company's stock, valued at approximately $13,670,239.24. This trade represents a 3.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $99.45, for a total transaction of $1,044,225.00. Following the transaction, the chief financial officer directly owned 234,025 shares in the company, valued at approximately $23,273,786.25. This represents a 4.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,500 shares of company stock valued at $3,616,005. Corporate insiders own 15.80% of the company's stock.

PennyMac Financial Services Stock Down 0.1%

Shares of NYSE:PFSI traded down $0.14 during midday trading on Friday, hitting $100.80. 223,110 shares of the company's stock were exchanged, compared to its average volume of 327,521. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a 50 day moving average price of $98.13 and a 200-day moving average price of $99.73. The company has a market cap of $5.21 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 0.21 and a beta of 1.53. PennyMac Financial Services, Inc. has a 12 month low of $85.74 and a 12 month high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.99 by ($1.57). PennyMac Financial Services had a return on equity of 14.78% and a net margin of 20.27%. The firm had revenue of $430.90 million during the quarter, compared to the consensus estimate of $520.42 million. During the same period in the previous year, the company posted $0.74 earnings per share. On average, sell-side 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 given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend was Wednesday, May 14th. PennyMac Financial Services's payout ratio is 18.40%.

Analyst Upgrades and Downgrades

PFSI has been the topic of several research reports. UBS Group reiterated a "neutral" rating and set a $115.00 price objective (up previously from $110.00) on shares of PennyMac Financial Services in a report on Tuesday, July 15th. Wells Fargo & Company dropped their price objective on shares of PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Barclays dropped their price objective on shares of PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating on the stock in a report on Tuesday, July 8th. Keefe, Bruyette & Woods upped their price objective on shares of PennyMac Financial Services from $114.00 to $121.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Finally, Piper Sandler dropped their price objective on shares of PennyMac Financial Services from $128.00 to $125.00 and set an "overweight" rating on the stock in a report on Tuesday, July 1st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $121.67.

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.