PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Sold by Nuveen Asset Management LLC

Nuveen Asset Management LLC lowered its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 9.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,969 shares of the real estate investment trust's stock after selling 10,936 shares during the period. Nuveen Asset Management LLC owned about 0.21% of PennyMac Financial Services worth $10,824,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PFSI. Vanguard Group Inc. raised its position in shares of PennyMac Financial Services by 7.4% in the fourth quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust's stock valued at $294,835,000 after buying an additional 199,667 shares during the last quarter. FMR LLC raised its position in shares of PennyMac Financial Services by 11.9% in the fourth quarter. FMR LLC now owns 1,305,851 shares of the real estate investment trust's stock valued at $133,380,000 after buying an additional 138,853 shares during the last quarter. Invesco Ltd. raised its position in shares of PennyMac Financial Services by 0.3% in the fourth quarter. Invesco Ltd. now owns 1,183,458 shares of the real estate investment trust's stock valued at $120,878,000 after buying an additional 3,527 shares during the last quarter. Geode Capital Management LLC raised its position in shares of PennyMac Financial Services by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 658,559 shares of the real estate investment trust's stock valued at $67,283,000 after buying an additional 10,795 shares during the last quarter. Finally, Millennium Management LLC raised its position in shares of PennyMac Financial Services by 104.5% in the fourth quarter. Millennium Management LLC now owns 518,574 shares of the real estate investment trust's stock valued at $52,967,000 after buying an additional 264,956 shares during the last quarter. Institutional investors and hedge funds own 57.87% of the company's stock.

Wall Street Analyst Weigh In

PFSI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised shares of PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price objective for the company in a research report on Tuesday, April 8th. UBS Group lowered 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 report on Wednesday, April 16th. Wells Fargo & Company lowered their target price on shares of PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Finally, Piper Sandler lowered their target price on shares of PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the 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 Trading Down 0.7%

PFSI traded down $0.70 during trading on Friday, hitting $95.98. 259,789 shares of the company's stock were exchanged, compared to its average volume of 312,136. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. PennyMac Financial Services, Inc. has a 1 year low of $85.74 and a 1 year high of $119.13. The stock has a 50 day moving average price of $97.22 and a 200 day moving average price of $101.13. The firm has a market cap of $4.96 billion, a P/E ratio of 16.43, a price-to-earnings-growth ratio of 0.19 and a beta of 1.60.

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

PennyMac Financial Services Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Joseph F. Mazzella sold 11,000 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $98.23, for a total value of $1,080,530.00. Following the completion of the transaction, the director now directly owns 92,863 shares in the company, valued at approximately $9,121,932.49. This represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Derek Stark sold 588 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $101.52, for a total transaction of $59,693.76. Following the completion of the transaction, the insider now owns 25,621 shares of the company's stock, valued at $2,601,043.92. This trade represents a 2.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,532 shares of company stock worth $4,981,689 over the last ninety days. 16.60% of the stock is owned by company insiders.

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.