Dakota Wealth Management Trims Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

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

Other institutional investors and hedge funds have also modified their holdings of the company. Hexagon Capital Partners LLC raised its holdings in PennyMac Financial Services by 29.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 109 shares during the last quarter. QRG Capital Management Inc. increased its stake in PennyMac Financial Services by 0.7% in the first quarter. QRG Capital Management Inc. now owns 33,892 shares of the real estate investment trust’s stock valued at $3,087,000 after purchasing an additional 232 shares during the last quarter. MorganRosel Wealth Management LLC lifted its position in PennyMac Financial Services by 2.2% during the first quarter. MorganRosel Wealth Management LLC now owns 10,811 shares of the real estate investment trust’s stock worth $985,000 after buying an additional 236 shares during the period. Blue Trust Inc. boosted its stake in PennyMac Financial Services by 59.5% in the 3rd 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 last quarter. Finally, Arizona State Retirement System grew its holdings in PennyMac Financial Services by 2.9% in the 2nd quarter. Arizona State Retirement System now owns 11,999 shares of the real estate investment trust’s stock valued at $1,135,000 after buying an additional 336 shares during the period. Hedge funds and other institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Stock Performance

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

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.28% and a net margin of 11.45%. The business had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. During the same quarter last year, the firm posted $1.77 earnings per share. PennyMac Financial Services’s revenue was up 2.9% compared to the same quarter last year. Research analysts forecast that PennyMac Financial Services, Inc. will post 11.22 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 18th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Monday, November 18th. PennyMac Financial Services’s payout ratio is 38.10%.

Wall Street Analyst Weigh In

PFSI has been the topic of several research analyst reports. StockNews.com cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Piper Sandler lifted their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday. Wedbush restated an “outperform” rating and set a $130.00 price objective on shares of PennyMac Financial Services in a report on Wednesday. Wells Fargo & Company lifted their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods lowered 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. One 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.86.

Insiders Place Their Bets

In related news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction on Monday, October 14th. The stock was sold at an average price of $107.57, for a total value of $1,075,700.00. Following the transaction, the chief executive officer now directly owns 190,604 shares in the company, valued at $20,503,272.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO David Spector sold 10,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $107.57, for a total value of $1,075,700.00. Following the completion of the transaction, the chief executive officer now owns 190,604 shares in the company, valued at $20,503,272.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph F. Mazzella sold 11,396 shares of PennyMac Financial Services stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $97.92, for a total value of $1,115,896.32. Following the completion of the transaction, the director now directly owns 105,446 shares in the company, valued at $10,325,272.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,855 shares of company stock worth $9,647,599. 16.60% of the stock is owned by insiders.

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.