PennyMac Financial Services, Inc. (NYSE:PFSI) Holdings Decreased by Northern Trust Corp

Northern Trust Corp trimmed its stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 22.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 287,740 shares of the real estate investment trust's stock after selling 84,581 shares during the period. Northern Trust Corp owned approximately 0.56% of PennyMac Financial Services worth $29,390,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in PennyMac Financial Services during the fourth quarter worth approximately $38,004,000. Vanguard Group Inc. increased its stake in 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 purchasing an additional 199,667 shares during the period. Boston Partners boosted its stake in shares of PennyMac Financial Services by 50.1% during the fourth quarter. Boston Partners now owns 497,080 shares of the real estate investment trust's stock worth $51,313,000 after buying an additional 165,997 shares during the period. FMR LLC raised its stake 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 acquiring an additional 138,853 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in PennyMac Financial Services by 48.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 320,250 shares of the real estate investment trust's stock worth $32,710,000 after acquiring an additional 104,022 shares during the period. Institutional investors and hedge funds own 57.87% of the company's stock.

Wall Street Analyst Weigh In

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

PennyMac Financial Services Price Performance

PFSI stock traded down $0.70 during midday trading on Wednesday, hitting $98.89. 266,947 shares of the stock were exchanged, compared to its average volume of 305,525. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. 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 $5.11 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 0.19 and a beta of 1.60. The stock's 50-day moving average price is $97.59 and its 200-day moving average price is $101.56.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted 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 analyst estimates of $520.42 million. During the same quarter last year, the business earned $0.74 EPS. Research analysts predict that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Wednesday, May 14th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.21%. PennyMac Financial Services's dividend payout ratio is presently 18.40%.

Insider Buying and Selling

In other PennyMac Financial Services news, insider Mark Elbaum sold 410 shares of the company'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 transaction, the insider now directly owns 4,207 shares of the company's stock, valued at $432,816.16. This represents a 8.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Joseph F. Mazzella sold 11,000 shares of the firm's stock in a transaction dated 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 sale, the director now 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,464 shares of company stock valued at $5,621,397. 16.60% of the stock is currently 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.