Arizona State Retirement System Cuts Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Arizona State Retirement System lessened its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 28.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,914 shares of the real estate investment trust’s stock after selling 3,550 shares during the period. Arizona State Retirement System’s holdings in PennyMac Financial Services were worth $910,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. FMR LLC lifted its holdings in shares of PennyMac Financial Services by 231.9% in the 3rd quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock worth $133,003,000 after acquiring an additional 815,389 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of PennyMac Financial Services by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock worth $108,809,000 after acquiring an additional 21,751 shares during the last quarter. State Street Corp lifted its holdings in shares of PennyMac Financial Services by 6.0% in the 3rd quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after acquiring an additional 51,777 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of PennyMac Financial Services by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust’s stock worth $73,841,000 after acquiring an additional 19,662 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of PennyMac Financial Services by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 453,810 shares of the real estate investment trust’s stock worth $46,352,000 after acquiring an additional 6,459 shares during the last quarter. 57.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Piper Sandler lowered their price target on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Keefe, Bruyette & Woods lowered their price target on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $122.17.

PennyMac Financial Services Stock Down 1.4 %

Shares of NYSE PFSI opened at $94.68 on Friday. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. PennyMac Financial Services, Inc. has a 12 month low of $83.03 and a 12 month high of $119.13. The firm has a market capitalization of $4.87 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. The firm has a fifty day simple moving average of $103.27 and a two-hundred day simple moving average of $105.08.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. Equities analysts expect that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were issued a $0.30 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.27%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 20.55%.

Insiders Place Their Bets

In other news, CEO David Spector sold 61,120 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $101.72, for a total value of $6,217,126.40. Following the sale, the chief executive officer now directly owns 634,612 shares of the company’s stock, valued at $64,552,732.64. This represents a 8.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider James Follette sold 1,983 shares of the company’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $99.93, for a total transaction of $198,161.19. Following the completion of the sale, the insider now directly owns 10,497 shares in the company, valued at $1,048,965.21. This represents a 15.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 150,697 shares of company stock worth $15,327,924. 16.60% of the stock is currently owned by corporate 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.