PennyMac Financial Services, Inc. $PFSI Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 39.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 15,345 shares of the real estate investment trust’s stock after selling 9,856 shares during the period. Sei Investments Co.’s holdings in PennyMac Financial Services were worth $1,341,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PFSI. Norges Bank acquired a new position in shares of PennyMac Financial Services in the 4th quarter valued at $44,287,000. Two Sigma Investments LP increased its position in shares of PennyMac Financial Services by 1,148.7% during the 3rd quarter. Two Sigma Investments LP now owns 310,919 shares of the real estate investment trust’s stock worth $38,517,000 after purchasing an additional 286,019 shares during the last quarter. Holocene Advisors LP increased its position in shares of PennyMac Financial Services by 2,379.5% during the 3rd quarter. Holocene Advisors LP now owns 245,268 shares of the real estate investment trust’s stock worth $30,384,000 after purchasing an additional 235,376 shares during the last quarter. Invesco Ltd. raised its holdings in PennyMac Financial Services by 18.3% in the 3rd quarter. Invesco Ltd. now owns 1,463,096 shares of the real estate investment trust’s stock valued at $181,248,000 after buying an additional 226,581 shares during the period. Finally, 140 Summer Partners LP lifted its position in PennyMac Financial Services by 50.2% in the fourth quarter. 140 Summer Partners LP now owns 669,892 shares of the real estate investment trust’s stock valued at $88,319,000 after buying an additional 223,752 shares during the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Daniel Stanley Perotti sold 2,925 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $87.50, for a total transaction of $255,937.50. Following the completion of the transaction, the chief financial officer directly owned 210,625 shares of the company’s stock, valued at approximately $18,429,687.50. The trade was a 1.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Gregory L. Hendry sold 2,943 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $81.71, for a total transaction of $240,472.53. Following the completion of the sale, the chief accounting officer directly owned 48,968 shares in the company, valued at approximately $4,001,175.28. This trade represents a 5.67% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 8,045 shares of company stock valued at $685,570. 15.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PFSI shares. BTIG Research lowered their target price on shares of PennyMac Financial Services from $105.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Wells Fargo & Company decreased their price objective on shares of PennyMac Financial Services from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Wall Street Zen cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Zacks Research downgraded shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Finally, Barclays cut their target price on PennyMac Financial Services from $93.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $104.88.

PennyMac Financial Services Stock Up 1.0%

Shares of NYSE:PFSI opened at $76.61 on Wednesday. The firm has a market capitalization of $3.98 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 0.71 and a beta of 1.45. PennyMac Financial Services, Inc. has a 1 year low of $71.68 and a 1 year high of $160.36. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.38 and a quick ratio of 0.38. The firm’s 50-day moving average is $81.86 and its two-hundred day moving average is $89.40.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $1.39 earnings per share for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.72). PennyMac Financial Services had a net margin of 17.74% and a return on equity of 11.18%. The firm’s revenue was up 11.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.54 earnings per share. Analysts predict that PennyMac Financial Services, Inc. will post 7.42 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Monday, August 17th will be issued a $0.30 dividend. The ex-dividend date is Monday, August 17th. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. PennyMac Financial Services’s dividend payout ratio (DPR) is 16.48%.

PennyMac Financial Services Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.