Mercer Global Advisors Inc. ADV Trims 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 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,743 shares of the real estate investment trust's stock after selling 4,324 shares during the period. Mercer Global Advisors Inc. ADV's holdings in PennyMac Financial Services were worth $1,404,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aquatic Capital Management LLC bought a new position in PennyMac Financial Services during the 4th quarter worth approximately $71,000. Price T Rowe Associates Inc. MD grew its position in shares of PennyMac Financial Services by 11.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 134,435 shares of the real estate investment trust's stock worth $13,732,000 after buying an additional 14,141 shares during the last quarter. TD Waterhouse Canada Inc. bought a new stake in shares of PennyMac Financial Services in the 4th quarter worth approximately $39,000. MetLife Investment Management LLC grew its position 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 buying an additional 634 shares during the last quarter. Finally, Natixis bought a new stake in shares of PennyMac Financial Services during the fourth quarter valued at approximately $470,000. Hedge funds and other institutional investors own 57.87% of the company's stock.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, insider Mark Elbaum sold 410 shares of the stock in a transaction on Friday, April 4th. The stock was sold at an average price of $102.88, for a total transaction of $42,180.80. Following the sale, the insider now owns 4,207 shares of the company's stock, valued at approximately $432,816.16. This trade represents a 8.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Abbie Tidmore sold 2,669 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $102.55, for a total value of $273,705.95. Following the sale, the executive now directly owns 4,878 shares in the company, valued at $500,238.90. This trade represents a 35.37% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,464 shares of company stock worth $5,621,397. 16.60% of the stock is currently owned by company insiders.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI traded up $0.42 during mid-day trading on Tuesday, reaching $99.46. The company's stock had a trading volume of 324,269 shares, compared to its average volume of 305,600. The firm has a market capitalization of $5.14 billion, a PE ratio of 17.03, a P/E/G ratio of 0.19 and a beta of 1.60. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. The stock has a fifty day moving average of $97.62 and a two-hundred day moving average of $101.58. PennyMac Financial Services, Inc. has a 52 week low of $85.74 and a 52 week high of $119.13.

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 for the quarter, missing analysts' consensus estimates of $2.99 by ($1.57). The business had revenue of $430.90 million during the quarter, compared to the consensus estimate 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 last year, the company earned $0.74 EPS. As a group, sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Wednesday, May 14th will be given a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.21%. PennyMac Financial Services's dividend payout ratio is currently 18.40%.

Analysts Set New Price Targets

A number of research analysts have issued reports on PFSI shares. Piper Sandler lowered their price objective on 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. UBS Group decreased their price target on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price target for the company in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company decreased their price target on PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $121.17.

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.