PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Sold by Handelsinvest Investeringsforvaltning

Handelsinvest Investeringsforvaltning lowered its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 34.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,124 shares of the real estate investment trust’s stock after selling 1,103 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in PennyMac Financial Services were worth $193,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in PennyMac Financial Services by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,691,512 shares of the real estate investment trust’s stock worth $237,851,000 after purchasing an additional 70,178 shares in the last quarter. Vanguard Group Inc. grew its position in shares of PennyMac Financial Services by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 2,610,041 shares of the real estate investment trust’s stock worth $230,649,000 after acquiring an additional 19,748 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of PennyMac Financial Services by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 396,745 shares of the real estate investment trust’s stock worth $35,060,000 after acquiring an additional 3,947 shares during the last quarter. Norges Bank purchased a new position in shares of PennyMac Financial Services during the fourth quarter worth approximately $31,258,000. Finally, Boston Partners purchased a new position in shares of PennyMac Financial Services during the fourth quarter worth approximately $28,191,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

Insider Transactions at PennyMac Financial Services

In related news, CEO David Spector sold 10,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $90.56, for a total value of $905,600.00. Following the sale, the chief executive officer now directly owns 230,604 shares in the company, valued at approximately $20,883,498.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Doug Jones sold 30,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $91.49, for a total value of $2,744,700.00. Following the sale, the director now directly owns 480,000 shares in the company, valued at approximately $43,915,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO David Spector sold 10,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $90.56, for a total transaction of $905,600.00. Following the completion of the sale, the chief executive officer now owns 230,604 shares in the company, valued at $20,883,498.24. The disclosure for this sale can be found here. Insiders have sold a total of 87,865 shares of company stock valued at $8,031,769 in the last ninety days. 16.60% of the stock is currently owned by company insiders.

PennyMac Financial Services Stock Performance

NYSE:PFSI opened at $93.93 on Thursday. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.33. PennyMac Financial Services, Inc. has a fifty-two week low of $62.15 and a fifty-two week high of $95.18. The stock has a market cap of $4.78 billion, a PE ratio of 32.61, a price-to-earnings-growth ratio of 0.60 and a beta of 1.72. The firm’s fifty day simple moving average is $91.30 and its 200-day simple moving average is $89.03.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. The business had revenue of $305.66 million for the quarter, compared to analysts’ expectations of $422.87 million. Analysts expect that PennyMac Financial Services, Inc. will post 10.55 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.85%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 27.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PFSI shares. Keefe, Bruyette & Woods lowered their target price on shares of PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Barclays raised their target price on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Wedbush reissued an “outperform” rating and issued a $110.00 price objective on shares of PennyMac Financial Services in a research note on Thursday, April 25th. Finally, StockNews.com cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $97.75.

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.