PennyMac Financial Services, Inc. (NYSE:PFSI) Holdings Decreased by Dakota Wealth Management

Dakota Wealth Management reduced its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,204 shares of the real estate investment trust’s stock after selling 112 shares during the period. Dakota Wealth Management’s holdings in PennyMac Financial Services were worth $1,619,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Denali Advisors LLC lifted its position in shares of PennyMac Financial Services by 179.2% in the first quarter. Denali Advisors LLC now owns 41,600 shares of the real estate investment trust’s stock worth $3,789,000 after purchasing an additional 26,700 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of PennyMac Financial Services by 91.3% during the 1st quarter. Russell Investments Group Ltd. now owns 19,246 shares of the real estate investment trust’s stock valued at $1,753,000 after buying an additional 9,183 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of PennyMac Financial Services by 56.1% during the 1st quarter. BNP Paribas Financial Markets now owns 13,917 shares of the real estate investment trust’s stock valued at $1,268,000 after acquiring an additional 5,004 shares in the last quarter. Edgestream Partners L.P. increased its stake in shares of PennyMac Financial Services by 349.5% in the first quarter. Edgestream Partners L.P. now owns 23,774 shares of the real estate investment trust’s stock worth $2,166,000 after acquiring an additional 18,485 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of PennyMac Financial Services during the first quarter worth $2,570,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PFSI has been the topic of a number of recent research reports. Barclays boosted their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods cut PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price target for the company. in a research note on Monday, July 22nd. StockNews.com lowered shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Piper Sandler boosted their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Wells Fargo & Company increased their price target 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, PennyMac Financial Services presently has a consensus rating of “Moderate Buy” and an average price target of $115.86.

Insider Transactions at PennyMac Financial Services

In other news, Director Joseph F. Mazzella sold 11,396 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $97.92, for a total value of $1,115,896.32. Following the sale, the director now owns 105,446 shares in the company, valued at approximately $10,325,272.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 11,396 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the sale, the director now directly owns 105,446 shares of the company’s stock, valued at approximately $10,325,272.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Spector sold 10,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $107.57, for a total transaction of $1,075,700.00. Following the completion of the sale, the chief executive officer now owns 190,604 shares in the company, valued at $20,503,272.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 89,855 shares of company stock worth $9,647,599 over the last three months. 16.60% of the stock is currently owned by insiders.

PennyMac Financial Services Price Performance

Shares of PennyMac Financial Services stock opened at $100.88 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.75. The firm has a fifty day simple moving average of $107.79 and a 200-day simple moving average of $98.24. The stock has a market capitalization of $5.16 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 0.63 and a beta of 1.77. PennyMac Financial Services, Inc. has a 1-year low of $62.75 and a 1-year high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). The firm had revenue of $411.83 million for the quarter, compared to analyst estimates of $513.12 million. PennyMac Financial Services had a return on equity of 15.28% and a net margin of 11.45%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 EPS. On average, sell-side analysts expect that PennyMac Financial Services, Inc. will post 11.22 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.19%. The ex-dividend date is Monday, November 18th. PennyMac Financial Services’s dividend payout ratio is currently 38.10%.

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.