Public Employees Retirement Association of Colorado Decreases Stock Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Public Employees Retirement Association of Colorado decreased its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 56.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,173 shares of the real estate investment trust's stock after selling 5,373 shares during the quarter. Public Employees Retirement Association of Colorado's holdings in PennyMac Financial Services were worth $426,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PFSI. Charles Schwab Investment Management Inc. lifted its position in PennyMac Financial Services by 1.4% in 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 acquiring an additional 6,459 shares during the last quarter. JPMorgan Chase & Co. grew its position in PennyMac Financial Services by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust's stock valued at $108,809,000 after buying an additional 21,751 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in PennyMac Financial Services by 27.3% in the 4th 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 buying an additional 5,833 shares during the period. Teacher Retirement System of Texas purchased a new position in PennyMac Financial Services during the 4th quarter worth $518,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of PennyMac Financial Services in the fourth quarter valued at about $1,307,000. 57.87% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PennyMac Financial Services

In other news, insider Mark Elbaum sold 410 shares of the company's 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 completion of the sale, the insider now directly owns 4,207 shares in the company, valued at approximately $432,816.16. This represents a 8.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $101.49, for a total value of $1,065,645.00. Following the sale, the chief financial officer now owns 214,997 shares of the company's stock, valued at $21,820,045.53. The trade was a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,464 shares of company stock worth $5,621,397 in the last ninety days. 16.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. UBS Group reduced their price objective on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock 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 on the stock in a research note on Tuesday, April 8th. Piper Sandler lowered their target price 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. Finally, Wells Fargo & Company reduced their price target 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. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, PennyMac Financial Services presently has a consensus rating of "Moderate Buy" and an average target price of $121.17.

PennyMac Financial Services Price Performance

PFSI stock traded up $1.34 during trading on Wednesday, hitting $97.16. 28,223 shares of the stock traded hands, compared to its average volume of 303,927. The company has a 50 day simple moving average of $98.01 and a 200 day simple moving average of $101.69. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. PennyMac Financial Services, Inc. has a one year low of $85.74 and a one year high of $119.13. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 0.19 and a beta of 1.60.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 EPS for the quarter, missing analysts' consensus estimates of $2.99 by ($1.57). The firm had revenue of $430.90 million during the quarter, compared to the consensus estimate of $520.42 million. PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. During the same quarter last year, the firm earned $0.74 earnings per share. Equities analysts expect 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. 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 dividend on an annualized basis and a dividend yield of 1.24%. PennyMac Financial Services's dividend payout ratio (DPR) is currently 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.