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

Victory Capital Management Inc. cut its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 15.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,184 shares of the real estate investment trust’s stock after selling 4,541 shares during the period. Victory Capital Management Inc.’s holdings in PennyMac Financial Services were worth $2,572,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its position in PennyMac Financial Services by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 453,810 shares of the real estate investment trust’s stock valued at $46,352,000 after acquiring an additional 6,459 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in PennyMac Financial Services by 54.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock valued at $112,000 after acquiring an additional 389 shares during the last quarter. MorganRosel Wealth Management LLC lifted its position in PennyMac Financial Services by 60.4% in the fourth quarter. MorganRosel Wealth Management LLC now owns 11,728 shares of the real estate investment trust’s stock valued at $1,198,000 after acquiring an additional 4,416 shares during the last quarter. Bank of New York Mellon Corp increased its stake in PennyMac Financial Services by 22.7% in the fourth quarter. Bank of New York Mellon Corp now owns 198,897 shares of the real estate investment trust’s stock valued at $20,315,000 after purchasing an additional 36,800 shares during the period. Finally, New York State Common Retirement Fund increased its stake in PennyMac Financial Services by 6.1% in the fourth quarter. New York State Common Retirement Fund now owns 71,065 shares of the real estate investment trust’s stock valued at $7,259,000 after purchasing an additional 4,077 shares during the period. 57.87% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 61,120 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $101.72, for a total transaction of $6,217,126.40. Following the transaction, the chief executive officer now directly owns 634,612 shares in the company, valued at approximately $64,552,732.64. This represents a 8.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider James Follette sold 1,983 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $99.93, for a total transaction of $198,161.19. Following the transaction, the insider now owns 10,497 shares in the company, valued at $1,048,965.21. The trade was a 15.89 % decrease in their ownership of the stock. 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.

Wall Street Analysts Forecast Growth

PFSI has been the topic of a number of recent research reports. Piper Sandler dropped their price objective on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Keefe, Bruyette & Woods dropped their price objective on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.17.

PennyMac Financial Services Trading Up 2.6 %

Shares of PennyMac Financial Services stock opened at $97.11 on Monday. PennyMac Financial Services, Inc. has a 52-week low of $83.03 and a 52-week high of $119.13. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22. The company’s 50-day simple moving average is $103.10 and its 200-day simple moving average is $104.99. The firm has a market cap of $4.99 billion, a price-to-earnings ratio of 16.63, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities research analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

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

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.