PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Sold by Conversant Capital LLC

Conversant Capital LLC lessened its stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 2.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 195,150 shares of the real estate investment trust's stock after selling 4,850 shares during the period. PennyMac Financial Services accounts for 2.8% of Conversant Capital LLC's portfolio, making the stock its 8th biggest holding. Conversant Capital LLC owned about 0.38% of PennyMac Financial Services worth $19,933,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position 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 worth $294,835,000 after acquiring an additional 199,667 shares in the last quarter. FMR LLC raised its holdings in shares of PennyMac Financial Services by 11.9% in the 4th quarter. FMR LLC now owns 1,305,851 shares of the real estate investment trust's stock worth $133,380,000 after purchasing an additional 138,853 shares in the last quarter. Invesco Ltd. lifted its stake in PennyMac Financial Services by 0.3% during 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 purchasing an additional 3,527 shares during the last quarter. Geode Capital Management LLC boosted its holdings in PennyMac Financial Services by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 658,559 shares of the real estate investment trust's stock worth $67,283,000 after buying an additional 10,795 shares in the last quarter. Finally, Boston Partners grew its position in PennyMac Financial Services by 50.1% in 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 last quarter. Institutional investors and hedge funds own 57.87% of the company's stock.

Insider Transactions at PennyMac Financial Services

In other news, CFO Daniel Stanley Perotti sold 10,500 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $101.49, for a total transaction of $1,065,645.00. Following the transaction, the chief financial officer now owns 214,997 shares in the company, valued at approximately $21,820,045.53. This trade represents a 4.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph F. Mazzella sold 11,000 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $98.23, for a total transaction of $1,080,530.00. Following the completion of 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. Over the last ninety days, insiders have sold 55,464 shares of company stock valued at $5,621,397. 16.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. UBS Group cut their price objective on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Wells Fargo & Company reduced their target price on PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Piper Sandler dropped their price target on PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Finally, Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price objective on the stock in a report on Tuesday, April 8th. One investment 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $121.17.

PennyMac Financial Services Stock Down 0.7 %

NYSE:PFSI traded down $0.71 during trading hours on Friday, hitting $97.67. 230,402 shares of the company's stock traded hands, compared to its average volume of 305,407. The stock's fifty day moving average price is $97.70 and its two-hundred day moving average price is $101.57. The firm has a market cap of $5.02 billion, a P/E ratio of 16.72, 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 quick ratio of 0.38 and a current ratio of 0.26. PennyMac Financial Services, Inc. has a twelve month low of $85.74 and a twelve month high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly 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 16.61% and a net margin of 19.54%. The company had revenue of $430.90 million during the quarter, compared to analysts' expectations of $520.42 million. During the same period last year, the company earned $0.74 earnings per share. On average, research analysts expect that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Wednesday, May 14th. PennyMac Financial Services's dividend payout ratio is currently 18.40%.

PennyMac Financial Services Company 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.