PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lowered its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,149,585 shares of the real estate investment trust's stock after selling 100,349 shares during the period. Dimensional Fund Advisors LP owned about 4.19% of PennyMac Financial Services worth $219,557,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Summit Investment Advisors Inc. increased its position in PennyMac Financial Services by 5.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,797 shares of the real estate investment trust's stock worth $286,000 after purchasing an additional 154 shares in the last quarter. KBC Group NV boosted its stake in shares of PennyMac Financial Services by 15.6% during the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust's stock worth $158,000 after purchasing an additional 209 shares during the last quarter. Sterling Capital Management LLC grew its holdings in shares of PennyMac Financial Services by 601.8% during the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock worth $41,000 after buying an additional 343 shares in the last quarter. Dakota Wealth Management raised its position in shares of PennyMac Financial Services by 2.6% in the fourth quarter. Dakota Wealth Management now owns 14,578 shares of the real estate investment trust's stock valued at $1,489,000 after buying an additional 374 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in shares of PennyMac Financial Services by 54.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust's stock valued at $112,000 after buying an additional 389 shares during the period. Hedge funds and other institutional investors own 57.87% of the company's stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CEO David Spector sold 6,839 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $102.12, for a total value of $698,398.68. Following the completion of the transaction, the chief executive officer now directly owns 635,554 shares in the company, valued at approximately $64,902,774.48. This represents a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Elbaum sold 410 shares of PennyMac Financial Services 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 directly owns 4,207 shares in the company, valued at $432,816.16. This trade represents a 8.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,464 shares of company stock worth $4,540,867 over the last quarter. 16.60% of the stock is owned by corporate insiders.

PennyMac Financial Services Trading Up 1.4 %

Shares of NYSE:PFSI traded up $1.30 during trading on Monday, reaching $94.90. 31,692 shares of the stock were exchanged, compared to its average volume of 303,310. The firm's 50-day moving average price is $98.69 and its 200 day moving average price is $102.24. The firm has a market cap of $4.88 billion, a price-to-earnings ratio of 16.25, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73. PennyMac Financial Services, Inc. has a 12-month low of $84.93 and a 12-month high of $119.13. 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 (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 (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 analysts' expectations of $520.42 million. During the same quarter in the prior year, the firm earned $0.74 earnings per share. On average, sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Wednesday, May 14th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend is Wednesday, May 14th. PennyMac Financial Services's dividend payout ratio (DPR) is presently 18.40%.

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.