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

Dimensional Fund Advisors LP grew its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 7.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,916,271 shares of the real estate investment trust’s stock after purchasing an additional 126,902 shares during the period. Dimensional Fund Advisors LP owned approximately 3.67% of PennyMac Financial Services worth $167,474,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in PennyMac Financial Services by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 2,832,737 shares of the real estate investment trust’s stock worth $373,468,000 after buying an additional 12,782 shares during the period. Invesco Ltd. raised its holdings in PennyMac Financial Services by 7.3% during the 4th quarter. Invesco Ltd. now owns 1,569,184 shares of the real estate investment trust’s stock valued at $206,881,000 after acquiring an additional 106,088 shares during the period. 140 Summer Partners LP raised its holdings in PennyMac Financial Services by 50.2% during the 4th quarter. 140 Summer Partners LP now owns 669,892 shares of the real estate investment trust’s stock valued at $88,319,000 after acquiring an additional 223,752 shares during the period. Basswood Capital Management L.L.C. lifted its position in shares of PennyMac Financial Services by 5.9% during the second quarter. Basswood Capital Management L.L.C. now owns 570,210 shares of the real estate investment trust’s stock worth $56,816,000 after acquiring an additional 31,743 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of PennyMac Financial Services by 43.4% during the second quarter. Ameriprise Financial Inc. now owns 400,788 shares of the real estate investment trust’s stock worth $39,935,000 after acquiring an additional 121,382 shares in the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, CAO Gregory L. Hendry sold 2,943 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $81.71, for a total transaction of $240,472.53. Following the completion of the sale, the chief accounting officer directly owned 48,968 shares in the company, valued at $4,001,175.28. The trade was a 5.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO David Spector sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $87.99, for a total transaction of $879,900.00. Following the completion of the transaction, the chief executive officer directly owned 60,604 shares of the company’s stock, valued at approximately $5,332,545.96. This represents a 14.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 18,045 shares of company stock valued at $1,565,470. 15.80% of the stock is owned by corporate insiders.

PennyMac Financial Services Stock Performance

NYSE PFSI opened at $84.29 on Friday. The company’s 50 day simple moving average is $83.53 and its two-hundred day simple moving average is $95.46. The company has a debt-to-equity ratio of 3.63, a current ratio of 0.33 and a quick ratio of 0.33. PennyMac Financial Services, Inc. has a 1 year low of $77.67 and a 1 year high of $160.36. The stock has a market capitalization of $4.38 billion, a PE ratio of 8.96, a P/E/G ratio of 0.60 and a beta of 1.44.

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

PennyMac Financial Services Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PFSI shares. Wells Fargo & Company cut their price target on PennyMac Financial Services from $110.00 to $100.00 and set an “overweight” rating for the company in a report on Wednesday, May 6th. Weiss Ratings lowered PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Wall Street Zen raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Keefe, Bruyette & Woods cut their target price on PennyMac Financial Services from $115.00 to $108.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Finally, Zacks Research lowered PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $114.62.

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.