PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 23.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,725 shares of the real estate investment trust’s stock after selling 8,968 shares during the period. Victory Capital Management Inc.’s holdings in PennyMac Financial Services were worth $3,388,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hexagon Capital Partners LLC grew its stake in PennyMac Financial Services by 29.6% during the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 109 shares during the period. Blue Trust Inc. grew its stake in PennyMac Financial Services by 59.5% during the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 262 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in PennyMac Financial Services during the third quarter worth approximately $37,000. Arizona State Retirement System grew its stake in PennyMac Financial Services by 2.9% during the second quarter. Arizona State Retirement System now owns 11,999 shares of the real estate investment trust’s stock worth $1,135,000 after buying an additional 336 shares during the period. Finally, Federated Hermes Inc. grew its stake in PennyMac Financial Services by 0.8% during the second quarter. Federated Hermes Inc. now owns 51,908 shares of the real estate investment trust’s stock worth $4,910,000 after buying an additional 396 shares during the period. Institutional investors and hedge funds own 57.87% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on PFSI shares. Wedbush reiterated an “outperform” rating and set a $130.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. 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 research note on Thursday, October 24th. 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 research note on Tuesday, October 8th. Finally, Piper Sandler upped their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, PennyMac Financial Services presently has a consensus rating of “Moderate Buy” and a consensus price target of $115.86.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, insider Steven Richard Bailey sold 14,130 shares of the stock in a transaction 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 transaction, the insider now directly owns 14,670 shares in the company, valued at $1,714,629.60. This represents a 49.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David Spector sold 10,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was 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. This trade represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 91,991 shares of company stock worth $9,948,749 in the last ninety days. 16.60% of the stock is owned by insiders.

PennyMac Financial Services Price Performance

Shares of PFSI stock opened at $105.62 on Friday. The company has a market capitalization of $5.41 billion, a PE ratio of 33.53 and a beta of 1.79. The firm has a fifty day simple moving average of $106.77 and a 200-day simple moving average of $100.23. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75. PennyMac Financial Services, Inc. has a twelve month low of $76.57 and a twelve month high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $411.83 million for the quarter, compared to the consensus estimate of $513.12 million. During the same quarter last year, the company earned $1.77 earnings per share. The company’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

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

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.