Victory Capital Management Inc. Lowers Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Victory Capital Management Inc. decreased its position in PennyMac Financial Services, Inc. (NYSE:PFSI) by 23.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,725 shares of the real estate investment trust’s stock after selling 8,968 shares during the period. Victory Capital Management Inc. owned about 0.06% of PennyMac Financial Services worth $3,388,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in shares of PennyMac Financial Services by 91.3% in the first quarter. Russell Investments Group Ltd. now owns 19,246 shares of the real estate investment trust’s stock valued at $1,753,000 after acquiring an additional 9,183 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of PennyMac Financial Services by 0.3% in the first quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust’s stock valued at $238,509,000 after acquiring an additional 8,345 shares in the last quarter. Maverick Capital Ltd. boosted its holdings in shares of PennyMac Financial Services by 263.8% in the second quarter. Maverick Capital Ltd. now owns 12,904 shares of the real estate investment trust’s stock valued at $1,221,000 after acquiring an additional 9,357 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of PennyMac Financial Services by 13.2% in the second quarter. American Century Companies Inc. now owns 347,979 shares of the real estate investment trust’s stock valued at $32,919,000 after acquiring an additional 40,676 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in shares of PennyMac Financial Services by 256.9% in the second quarter. Edgestream Partners L.P. now owns 84,861 shares of the real estate investment trust’s stock valued at $8,028,000 after acquiring an additional 61,087 shares in the last quarter. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Insider Activity

In other news, Director Anne Mccallion sold 23,829 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $103.14, for a total value of $2,457,723.06. Following the completion of the transaction, the director now owns 1,854 shares of the company’s stock, valued at $191,221.56. The trade was a 92.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven Richard Bailey sold 14,130 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were 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 approximately $1,714,629.60. This represents a 49.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 91,991 shares of company stock valued at $9,948,749 over the last 90 days. Insiders own 16.60% of the company’s stock.

PennyMac Financial Services Stock Up 1.6 %

Shares of NYSE PFSI opened at $105.62 on Friday. PennyMac Financial Services, Inc. has a 12-month low of $76.57 and a 12-month high of $119.13. The company has a market capitalization of $5.41 billion, a PE ratio of 33.53 and a beta of 1.79. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. The firm’s 50-day moving average is $106.77 and its two-hundred day moving average is $100.23.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The business had revenue of $411.83 million during the quarter, compared to analysts’ expectations of $513.12 million. During the same period last year, the company earned $1.77 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, November 18th. PennyMac Financial Services’s dividend payout ratio is presently 38.10%.

Wall Street Analyst Weigh In

PFSI has been the topic of a number of research analyst reports. Wedbush reissued an “outperform” rating and set a $130.00 price objective on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Piper Sandler boosted their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Barclays boosted their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company boosted their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $115.86.

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.