Mercer Global Advisors Inc. ADV Lowers Stock Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Mercer Global Advisors Inc. ADV lowered its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 23.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,743 shares of the real estate investment trust's stock after selling 4,324 shares during the quarter. Mercer Global Advisors Inc. ADV's holdings in PennyMac Financial Services were worth $1,404,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aquatic Capital Management LLC purchased a new position in PennyMac Financial Services during the fourth quarter worth approximately $71,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of PennyMac Financial Services by 11.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 134,435 shares of the real estate investment trust's stock valued at $13,732,000 after acquiring an additional 14,141 shares during the period. TD Waterhouse Canada Inc. bought a new position in shares of PennyMac Financial Services during the fourth quarter worth about $39,000. MetLife Investment Management LLC increased its holdings in shares of PennyMac Financial Services by 4.1% in the 4th quarter. MetLife Investment Management LLC now owns 16,058 shares of the real estate investment trust's stock worth $1,640,000 after acquiring an additional 634 shares during the period. Finally, Natixis acquired a new position in PennyMac Financial Services during the 4th quarter valued at about $470,000. Hedge funds and other institutional investors own 57.87% of the company's stock.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock traded up $0.32 during mid-day trading on Wednesday, hitting $99.61. 50,467 shares of the company's stock traded hands, compared to its average volume of 304,675. PennyMac Financial Services, Inc. has a fifty-two week low of $85.74 and a fifty-two week high of $119.13. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 17.06, a P/E/G ratio of 0.19 and a beta of 1.60. The firm has a 50 day simple moving average of $97.59 and a two-hundred day simple moving average of $101.56. 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 (NYSE:PFSI - Get Free Report) last announced 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 16.61% and a net margin of 19.54%. The firm had revenue of $430.90 million for the quarter, compared to analyst estimates of $520.42 million. During the same quarter in the previous year, the company earned $0.74 earnings per share. On average, research analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Wednesday, May 14th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date is Wednesday, May 14th. PennyMac Financial Services's payout ratio is 18.40%.

Insider Activity at PennyMac Financial Services

In related news, Director Joseph F. Mazzella sold 11,000 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $98.23, for a total transaction of $1,080,530.00. Following the transaction, the director now directly owns 92,863 shares of the company's stock, valued at $9,121,932.49. This represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Elbaum sold 410 shares of the firm's stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $102.88, for a total value of $42,180.80. Following the completion of the sale, the insider now owns 4,207 shares of the company's stock, valued at approximately $432,816.16. This represents a 8.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,464 shares of company stock valued at $5,621,397 in the last 90 days. 16.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on PFSI shares. Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price target on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company lowered their target price on PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Piper Sandler reduced their price target on PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, UBS Group decreased their price target on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $121.17.

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.