South Dakota Investment Council Has $9.22 Million Stake in PennyMac Financial Services, Inc. (NYSE:PFSI)

South Dakota Investment Council cut its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 5.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,069 shares of the real estate investment trust's stock after selling 5,698 shares during the quarter. South Dakota Investment Council owned approximately 0.18% of PennyMac Financial Services worth $9,217,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PFSI. Vanguard Group Inc. boosted its position in PennyMac Financial Services by 7.4% during the 4th quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust's stock valued at $294,835,000 after purchasing an additional 199,667 shares during the period. FMR LLC boosted its position in PennyMac Financial Services by 11.9% during the 4th quarter. FMR LLC now owns 1,305,851 shares of the real estate investment trust's stock valued at $133,380,000 after purchasing an additional 138,853 shares during the period. Invesco Ltd. boosted its position in PennyMac Financial Services by 0.3% during the 4th quarter. Invesco Ltd. now owns 1,183,458 shares of the real estate investment trust's stock valued at $120,878,000 after purchasing an additional 3,527 shares during the period. Geode Capital Management LLC boosted its position in PennyMac Financial Services by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 658,559 shares of the real estate investment trust's stock valued at $67,283,000 after purchasing an additional 10,795 shares during the period. Finally, Millennium Management LLC boosted its position in PennyMac Financial Services by 104.5% during the 4th quarter. Millennium Management LLC now owns 518,574 shares of the real estate investment trust's stock valued at $52,967,000 after purchasing an additional 264,956 shares during the period. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Financial Services Stock Performance

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

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its earnings results 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 company had revenue of $430.90 million during the quarter, compared to analyst estimates of $520.42 million. During the same period in the previous year, the company posted $0.74 earnings per share. On average, equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Wednesday, May 14th were issued a dividend of $0.30 per share. 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 1.19%. PennyMac Financial Services's dividend payout ratio is 18.40%.

Wall Street Analysts Forecast Growth

PFSI has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target 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. UBS Group reaffirmed a "neutral" rating and set a $115.00 target price (up from $110.00) on shares of PennyMac Financial Services in a research report on Tuesday. Barclays cut their target price on PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods boosted their target price on PennyMac Financial Services from $114.00 to $121.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Finally, Piper Sandler cut their target price on PennyMac Financial Services from $128.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $121.67.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 11,000 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $98.23, for a total value of $1,080,530.00. Following the transaction, the director directly owned 92,863 shares in the company, valued at approximately $9,121,932.49. This trade represents a 10.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Spector sold 5,000 shares of the stock in a transaction 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 owned 135,604 shares in the company, valued at $13,670,239.24. The trade was a 3.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 36,500 shares of company stock valued at $3,616,005 in the last three months. Corporate insiders own 15.80% of the company's stock.

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.