Dimensional Fund Advisors LP Lowers Holdings in PennyMac Financial Services, Inc. $PFSI

Dimensional Fund Advisors LP reduced its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 9.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,950,300 shares of the real estate investment trust’s stock after selling 199,285 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.77% of PennyMac Financial Services worth $195,242,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. CWM LLC lifted its stake in shares of PennyMac Financial Services by 71.5% during the 1st quarter. CWM LLC now owns 271 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 113 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new stake in shares of PennyMac Financial Services during the 4th quarter worth $39,000. Sterling Capital Management LLC lifted its stake in shares of PennyMac Financial Services by 601.8% during the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 343 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in shares of PennyMac Financial Services during the 4th quarter worth $71,000. Finally, Xponance Inc. purchased a new stake in shares of PennyMac Financial Services during the 1st quarter worth $202,000. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PFSI has been the subject of a number of analyst reports. Barclays decreased their price objective on PennyMac Financial Services from $124.00 to $119.00 and set an “overweight” rating for the company in a research note on Tuesday, July 8th. Wall Street Zen lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Keefe, Bruyette & Woods reduced their target price on PennyMac Financial Services from $121.00 to $117.00 and set an “outperform” rating on the stock in a research report on Thursday, July 24th. UBS Group reduced their target price on PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating on the stock in a research report on Thursday, July 24th. Finally, Piper Sandler reduced their target price on PennyMac Financial Services from $125.00 to $121.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $118.67.

Insider Activity

In other news, Director Joseph F. Mazzella sold 7,107 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $108.16, for a total value of $768,693.12. Following the completion of the transaction, the director directly owned 86,050 shares in the company, valued at $9,307,168. This trade represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Spector sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $100.81, for a total value of $504,050.00. Following the completion of the transaction, the chief executive officer owned 135,604 shares of the company’s stock, valued at approximately $13,670,239.24. The trade was a 3.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,107 shares of company stock valued at $1,764,193. Company insiders own 15.80% of the company’s stock.

PennyMac Financial Services Trading Down 1.4%

Shares of NYSE:PFSI opened at $105.56 on Tuesday. The business’s 50-day moving average is $99.08 and its 200 day moving average is $98.82. The company has a debt-to-equity ratio of 3.03, a current ratio of 0.34 and a quick ratio of 0.34. The firm has a market capitalization of $5.46 billion, a P/E ratio of 14.64 and a beta of 1.50. PennyMac Financial Services, Inc. has a 1 year low of $85.74 and a 1 year high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, July 22nd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.01 by ($1.99). PennyMac Financial Services had a return on equity of 12.18% and a net margin of 22.00%. The firm had revenue of $444.73 million during the quarter, compared to analysts’ expectations of $547.44 million. During the same quarter in the previous year, the business earned $1.85 earnings per share. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. On average, research analysts predict that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Wednesday, August 13th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, August 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 16.64%.

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.