Dark Forest Capital Management LP Cuts Stock Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Dark Forest Capital Management LP trimmed its position in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 26.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,381 shares of the real estate investment trust's stock after selling 5,279 shares during the quarter. Dark Forest Capital Management LP's holdings in PennyMac Financial Services were worth $1,469,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its position in PennyMac Financial Services by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 453,810 shares of the real estate investment trust's stock valued at $46,352,000 after purchasing an additional 6,459 shares during the last quarter. JPMorgan Chase & Co. grew its position in PennyMac Financial Services by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust's stock worth $108,809,000 after acquiring an additional 21,751 shares in the last quarter. Assenagon Asset Management S.A. raised its position in PennyMac Financial Services by 27.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 27,206 shares of the real estate investment trust's stock valued at $2,779,000 after purchasing an additional 5,833 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of PennyMac Financial Services in the 4th quarter valued at approximately $518,000. Finally, Barclays PLC increased its position in shares of PennyMac Financial Services by 505.4% during the 3rd quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust's stock valued at $6,859,000 after purchasing an additional 50,238 shares during the last quarter. 57.87% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider James Follette sold 1,983 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total value of $198,161.19. Following the completion of the sale, the insider now directly owns 10,497 shares in the company, valued at $1,048,965.21. This represents a 15.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Derek Stark sold 2,110 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $103.07, for a total value of $217,477.70. Following the completion of the sale, the insider now directly owns 26,209 shares of the company's stock, valued at $2,701,361.63. This trade represents a 7.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,464 shares of company stock worth $4,540,867. Company insiders own 16.60% of the company's stock.

Analysts Set New Price Targets

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

PennyMac Financial Services Stock Up 1.1 %

Shares of PFSI traded up $1.05 during mid-day trading on Monday, hitting $94.65. 47,331 shares of the company traded hands, compared to its average volume of 389,907. The business has a 50 day moving average of $98.69 and a 200 day moving average of $102.24. The company has a market capitalization of $4.87 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22. PennyMac Financial Services, Inc. has a 1-year low of $84.93 and a 1-year high of $119.13.

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 16.61% and a net margin of 19.54%. The firm had revenue of $430.90 million during the quarter, compared to analysts' expectations of $520.42 million. During the same quarter last year, the business earned $0.74 EPS. Equities research analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Wednesday, May 14th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, May 14th. PennyMac Financial Services's payout ratio is presently 18.40%.

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.