Epoch Investment Partners Inc. Has $14.42 Million Stock Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Epoch Investment Partners Inc. decreased its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 55.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 152,452 shares of the real estate investment trust’s stock after selling 192,844 shares during the quarter. Epoch Investment Partners Inc. owned about 0.30% of PennyMac Financial Services worth $14,422,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PFSI. Hexagon Capital Partners LLC grew its stake in shares of PennyMac Financial Services by 29.6% in the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 109 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of PennyMac Financial Services by 0.7% during the 1st quarter. QRG Capital Management Inc. now owns 33,892 shares of the real estate investment trust’s stock worth $3,087,000 after acquiring an additional 232 shares during the last quarter. MorganRosel Wealth Management LLC raised its stake in PennyMac Financial Services by 2.2% in the 1st quarter. MorganRosel Wealth Management LLC now owns 10,811 shares of the real estate investment trust’s stock valued at $985,000 after acquiring an additional 236 shares during the period. Arizona State Retirement System lifted its holdings in PennyMac Financial Services by 2.9% during the 2nd quarter. Arizona State Retirement System now owns 11,999 shares of the real estate investment trust’s stock valued at $1,135,000 after purchasing an additional 336 shares during the last quarter. Finally, ProShare Advisors LLC boosted its position in PennyMac Financial Services by 8.5% during the first quarter. ProShare Advisors LLC now owns 4,587 shares of the real estate investment trust’s stock worth $418,000 after purchasing an additional 361 shares during the period. Institutional investors and hedge funds own 57.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Piper Sandler increased their price objective on shares of PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Wedbush increased their price target on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. StockNews.com cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Finally, Keefe, Bruyette & Woods lowered PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price on the stock. in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $107.17.

PennyMac Financial Services Stock Performance

Shares of NYSE:PFSI opened at $111.80 on Monday. PennyMac Financial Services, Inc. has a 12-month low of $62.15 and a 12-month high of $119.13. The company’s 50 day moving average price is $102.81 and its two-hundred day moving average price is $94.83. The firm has a market cap of $5.69 billion, a PE ratio of 38.82, a PEG ratio of 0.75 and a beta of 1.77. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). The company had revenue of $406.13 million for the quarter, compared to analyst estimates of $469.64 million. PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The company’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.11 EPS. Equities research analysts predict 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. Investors of record on Tuesday, August 13th were given a $0.30 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.07%. This is a boost from PennyMac Financial Services’s previous quarterly dividend of $0.20. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 41.67%.

Insider Activity at PennyMac Financial Services

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

About PennyMac Financial Services

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.