AlphaQuest LLC Sells 819 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

AlphaQuest LLC lessened its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 24.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,477 shares of the real estate investment trust’s stock after selling 819 shares during the quarter. AlphaQuest LLC’s holdings in PennyMac Financial Services were worth $253,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. State Street Corp raised its holdings in PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after buying an additional 51,777 shares during the last quarter. JPMorgan Chase & Co. lifted 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 acquiring an additional 21,751 shares in the last quarter. XTX Topco Ltd acquired a new position in PennyMac Financial Services during the 3rd quarter valued at about $614,000. HighTower Advisors LLC bought a new stake in PennyMac Financial Services during the 3rd quarter worth approximately $702,000. Finally, Massachusetts Financial Services Co. MA purchased a new stake in shares of PennyMac Financial Services in the third quarter worth approximately $24,644,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Financial Services Stock Performance

Shares of PennyMac Financial Services stock opened at $97.11 on Friday. The business’s fifty day simple moving average is $103.10 and its 200 day simple moving average is $104.98. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The firm has a market capitalization of $4.99 billion, a P/E ratio of 16.63, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. PennyMac Financial Services, Inc. has a 12 month low of $83.03 and a 12 month high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. As a group, analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio is currently 20.55%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PFSI. Piper Sandler cut their target price on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Keefe, Bruyette & Woods reduced their target price on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.17.

Insider Buying and Selling at PennyMac Financial Services

In related news, CEO David Spector sold 61,120 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $101.72, for a total transaction of $6,217,126.40. Following the sale, the chief executive officer now owns 634,612 shares of the company’s stock, valued at approximately $64,552,732.64. This represents a 8.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Daniel Stanley Perotti sold 16,481 shares of PennyMac Financial Services stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $101.56, for a total value of $1,673,810.36. Following the transaction, the chief financial officer now directly owns 37,501 shares of the company’s stock, valued at $3,808,601.56. The trade was a 30.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 150,697 shares of company stock worth $15,327,924 over the last ninety days. 16.60% of the stock is currently owned by company 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.