New York Life Investment Management LLC Sells 170 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

New York Life Investment Management LLC trimmed its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 2.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,793 shares of the real estate investment trust’s stock after selling 170 shares during the period. New York Life Investment Management LLC’s holdings in PennyMac Financial Services were worth $512,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Hexagon Capital Partners LLC lifted its holdings in PennyMac Financial Services by 128.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 205 shares in the last quarter. Parkside Financial Bank & Trust bought a new stake in PennyMac Financial Services during the 4th quarter worth approximately $36,000. Saxon Interests Inc. bought a new stake in PennyMac Financial Services during the 4th quarter worth approximately $208,000. Foster & Motley Inc. bought a new position in PennyMac Financial Services in the 4th quarter valued at $234,000. Finally, Contravisory Investment Management Inc. bought a new position in shares of PennyMac Financial Services in the fourth quarter worth $252,000. Institutional investors own 57.87% of the company’s stock.

Insider Activity

In related news, CFO Daniel Stanley Perotti sold 11,400 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $88.50, for a total value of $1,008,900.00. Following the transaction, the chief financial officer now owns 257,897 shares in the company, valued at approximately $22,823,884.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Daniel Stanley Perotti sold 11,400 shares of PennyMac Financial Services stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $88.50, for a total value of $1,008,900.00. Following the completion of the sale, the chief financial officer now directly owns 257,897 shares in the company, valued at approximately $22,823,884.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph F. Mazzella sold 16,465 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $90.73, for a total transaction of $1,493,869.45. Following the completion of the sale, the director now owns 116,546 shares in the company, valued at approximately $10,574,218.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,267 shares of company stock worth $9,159,977. Corporate insiders own 16.60% of the company’s stock.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock opened at $93.80 on Friday. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.33. The firm has a market cap of $4.73 billion, a P/E ratio of 32.57, a P/E/G ratio of 0.59 and a beta of 1.68. PennyMac Financial Services, Inc. has a 1-year low of $56.60 and a 1-year high of $94.78. The firm has a 50-day moving average of $88.47 and a 200-day moving average of $84.51.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.14. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. The firm had revenue of $305.66 million for the quarter, compared to analyst estimates of $422.87 million. Sell-side analysts expect that PennyMac Financial Services, Inc. will post 10.55 EPS for the current year.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.85%. PennyMac Financial Services’s dividend payout ratio (DPR) is 27.78%.

Analyst Upgrades and Downgrades

PFSI has been the subject of several recent analyst reports. StockNews.com upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Friday, May 3rd. Barclays raised their target price on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Wedbush reissued an “outperform” rating and issued a $110.00 price target on shares of PennyMac Financial Services in a report on Thursday, April 25th. Keefe, Bruyette & Woods lowered their price target on PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $97.75.

PennyMac Financial Services 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.