Dimensional Fund Advisors LP Has $233.84 Million Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Dimensional Fund Advisors LP trimmed its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 8.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,471,964 shares of the real estate investment trust’s stock after selling 242,759 shares during the quarter. Dimensional Fund Advisors LP owned about 4.85% of PennyMac Financial Services worth $233,843,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Principal Financial Group Inc. increased its holdings in shares of PennyMac Financial Services by 45.6% during the fourth quarter. Principal Financial Group Inc. now owns 162,541 shares of the real estate investment trust’s stock valued at $14,364,000 after acquiring an additional 50,877 shares in the last quarter. Norges Bank bought a new stake in PennyMac Financial Services during the 4th quarter valued at $31,258,000. Dynamic Technology Lab Private Ltd acquired a new position in PennyMac Financial Services during the fourth quarter worth $1,019,000. UBS Group AG lifted its stake in shares of PennyMac Financial Services by 40.6% in the fourth quarter. UBS Group AG now owns 82,027 shares of the real estate investment trust’s stock valued at $7,249,000 after buying an additional 23,696 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of PennyMac Financial Services by 8.5% during the fourth quarter. Allianz Asset Management GmbH now owns 61,991 shares of the real estate investment trust’s stock valued at $5,478,000 after buying an additional 4,854 shares during the last quarter. 57.87% of the stock is owned by institutional investors.

PennyMac Financial Services Stock Down 0.3 %

Shares of NYSE:PFSI opened at $116.26 on Thursday. PennyMac Financial Services, Inc. has a 1 year low of $62.15 and a 1 year high of $119.13. The company has a market capitalization of $5.95 billion, a PE ratio of 40.37, a price-to-earnings-growth ratio of 0.72 and a beta of 1.77. The business has a fifty day moving average price of $101.80 and a two-hundred day moving average price of $94.23. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.65 by ($0.80). The company had revenue of $406.13 million for the quarter, compared to the consensus estimate of $469.64 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. PennyMac Financial Services’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.11 EPS. Analysts forecast that PennyMac Financial Services, Inc. will post 10.61 earnings per share for the current year.

PennyMac Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.03%. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 41.67%.

Insider Buying and Selling

In other PennyMac Financial Services news, insider Steven Richard Bailey sold 14,130 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the completion of the transaction, the insider now directly owns 14,670 shares of the company’s stock, valued at $1,714,629.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.79, for a total transaction of $1,167,900.00. Following the sale, the chief executive officer now owns 200,604 shares of the company’s stock, valued at approximately $23,428,541.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven Richard Bailey sold 14,130 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $116.88, for a total value of $1,651,514.40. Following the completion of the transaction, the insider now owns 14,670 shares in the company, valued at $1,714,629.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 79,355 shares of company stock valued at $8,306,734. 16.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PFSI has been the topic of several recent research reports. StockNews.com cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Wedbush raised their target price on PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Keefe, Bruyette & Woods downgraded PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price target for the company. in a report on Monday, July 22nd. Finally, Piper Sandler raised their price objective on PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $107.17.

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.