Jacobs Levy Equity Management Inc. Has $3.51 Million Stock Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Jacobs Levy Equity Management Inc. decreased its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 9.3% during the 4th quarter, HoldingsChannel reports. The fund owned 34,324 shares of the real estate investment trust’s stock after selling 3,532 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in PennyMac Financial Services were worth $3,506,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PFSI. TD Waterhouse Canada Inc. bought a new position in PennyMac Financial Services in the fourth quarter worth $39,000. Sterling Capital Management LLC lifted its position in PennyMac Financial Services by 601.8% in the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 343 shares during the period. Aquatic Capital Management LLC bought a new position in PennyMac Financial Services in the fourth quarter worth $71,000. Parkside Financial Bank & Trust lifted its position in PennyMac Financial Services by 54.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 389 shares during the period. Finally, KBC Group NV lifted its position in PennyMac Financial Services by 15.6% in the fourth 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 period. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Stock Down 0.7%

Shares of NYSE PFSI opened at $98.89 on Thursday. The stock has a market cap of $5.11 billion, a PE ratio of 16.93, a PEG ratio of 0.19 and a beta of 1.60. The business has a fifty day moving average of $97.53 and a two-hundred day moving average of $101.54. PennyMac Financial Services, Inc. has a 52-week low of $85.74 and a 52-week 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) last issued its quarterly earnings data 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). The company had revenue of $430.90 million for 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 period in the previous year, the business posted $0.74 earnings per share. As a group, equities research analysts expect that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm 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 $0.30 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.21%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 18.40%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Piper Sandler reduced their target price on PennyMac Financial Services from $130.00 to $128.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. 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 report on Wednesday, April 16th. Wells Fargo & Company cut their price objective 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. Finally, Keefe, Bruyette & Woods raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price objective for the company in a report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PennyMac Financial Services presently has an average rating of “Moderate Buy” and an average target price of $121.17.

Insider Activity

In other news, CFO Daniel Stanley Perotti sold 10,500 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 214,997 shares in the company, valued at approximately $21,820,045.53. This trade represents a 4.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph F. Mazzella sold 11,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the director now owns 92,863 shares of the company’s stock, valued at approximately $9,121,932.49. This trade 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 sold 55,464 shares of company stock worth $5,621,397. 16.60% of the stock is owned by corporate insiders.

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.