Jacobs Levy Equity Management Inc. Sells 88,309 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Jacobs Levy Equity Management Inc. reduced its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 70.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,856 shares of the real estate investment trust’s stock after selling 88,309 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in PennyMac Financial Services were worth $4,314,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of PFSI. Harbor Capital Advisors Inc. purchased a new stake in PennyMac Financial Services in the 3rd quarter worth approximately $37,000. Blue Trust Inc. lifted its stake in PennyMac Financial Services by 1,529.6% in the second quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 413 shares during the period. Hexagon Capital Partners LLC boosted its holdings in PennyMac Financial Services by 29.6% in the second 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 in the last quarter. KBC Group NV boosted its holdings in PennyMac Financial Services by 20.3% in the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 226 shares in the last quarter. Finally, Quantbot Technologies LP increased its position in PennyMac Financial Services by 23.7% during the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 290 shares during the period. 57.87% of the stock is owned by institutional investors.

Insider Buying and Selling at PennyMac Financial Services

In related news, CFO Daniel Stanley Perotti sold 10,500 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $112.93, for a total transaction of $1,185,765.00. Following the sale, the chief financial officer now directly owns 235,997 shares of the company’s stock, valued at $26,651,141.21. This trade represents a 4.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven Richard Bailey sold 14,130 shares of PennyMac Financial Services stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $116.88, for a total value of $1,651,514.40. Following the completion of the sale, the insider now owns 14,670 shares of the company’s stock, valued at $1,714,629.60. The trade was a 49.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,162 shares of company stock worth $8,540,526. 16.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PFSI has been the subject of several research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $130.00 target price on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Barclays raised their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Wells Fargo & Company upped their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Piper Sandler raised their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $121.00.

PennyMac Financial Services Stock Performance

Shares of PFSI opened at $107.07 on Friday. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The stock has a market cap of $5.49 billion, a P/E ratio of 33.99 and a beta of 1.78. The business’s 50 day moving average price is $105.33 and its 200-day moving average price is $101.14. PennyMac Financial Services, Inc. has a 52 week low of $79.11 and a 52 week high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last released its 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 15.13% and a net margin of 11.45%. The company had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. During the same period last year, the firm posted $1.77 earnings per share. The company’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is 38.10%.

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.