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

Dimensional Fund Advisors LP grew its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 7.1% in the 1st quarter, HoldingsChannel reports. The firm owned 1,916,271 shares of the real estate investment trust’s stock after acquiring an additional 126,902 shares during the quarter. Dimensional Fund Advisors LP’s holdings in PennyMac Financial Services were worth $167,474,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC bought a new position in shares of PennyMac Financial Services during the 2nd quarter valued at about $26,000. Caitong International Asset Management Co. Ltd lifted its position in PennyMac Financial Services by 7,600.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 228 shares during the last quarter. Strs Ohio bought a new stake in PennyMac Financial Services in the 1st quarter worth approximately $30,000. Los Angeles Capital Management LLC purchased a new stake in PennyMac Financial Services in the fourth quarter worth approximately $31,000. Finally, GAMMA Investing LLC boosted its stake in shares of PennyMac Financial Services by 97.3% in the 4th quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 142 shares in the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Financial Services Stock Up 2.0%

Shares of NYSE PFSI opened at $84.29 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 3.63. PennyMac Financial Services, Inc. has a 52 week low of $77.67 and a 52 week high of $160.36. The firm’s fifty day moving average is $83.53 and its 200 day moving average is $95.46. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 8.96, a PEG ratio of 0.60 and a beta of 1.44.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.03). The firm had revenue of $544.98 million for the quarter, compared to analysts’ expectations of $546.17 million. PennyMac Financial Services had a net margin of 23.47% and a return on equity of 10.93%. The company’s quarterly revenue was up 26.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.42 EPS. On average, equities research analysts expect that PennyMac Financial Services, Inc. will post 9.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.4%. PennyMac Financial Services’s dividend payout ratio is presently 12.75%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. BTIG Research lowered their price target on shares of PennyMac Financial Services from $150.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Weiss Ratings cut PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Wells Fargo & Company decreased their price objective on PennyMac Financial Services from $110.00 to $100.00 and set an “overweight” rating on the stock in a report on Wednesday, May 6th. Wall Street Zen raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Keefe, Bruyette & Woods dropped their target price on PennyMac Financial Services from $115.00 to $108.00 and set an “outperform” rating for the company in a report on Friday, May 8th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, PennyMac Financial Services currently has an average rating of “Hold” and a consensus target price of $114.62.

Insiders Place Their Bets

In other news, CFO Daniel Stanley Perotti sold 2,925 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $87.50, for a total transaction of $255,937.50. Following 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Gregory L. Hendry sold 2,177 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $86.89, for a total value of $189,159.53. Following the transaction, the chief accounting officer owned 48,968 shares of the company’s stock, valued at approximately $4,254,829.52. This represents a 4.26% 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. In the last 90 days, insiders sold 18,045 shares of company stock worth $1,565,470. 15.80% of the stock is currently owned by company insiders.

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.