AlphaQuest LLC Sells 819 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

AlphaQuest LLC lessened its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 24.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,477 shares of the real estate investment trust’s stock after selling 819 shares during the quarter. AlphaQuest LLC’s holdings in PennyMac Financial Services were worth $253,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Edgestream Partners L.P. lifted its holdings in shares of PennyMac Financial Services by 73.0% during the 4th quarter. Edgestream Partners L.P. now owns 39,078 shares of the real estate investment trust’s stock worth $3,991,000 after acquiring an additional 16,495 shares during the last quarter. Inceptionr LLC purchased a new stake in shares of PennyMac Financial Services in the 4th quarter valued at $685,000. Charles Schwab Investment Management Inc. grew its holdings in shares of PennyMac Financial Services by 1.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 453,810 shares of the real estate investment trust’s stock valued at $46,352,000 after purchasing an additional 6,459 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in PennyMac Financial Services by 54.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 389 shares during the last quarter. Finally, MorganRosel Wealth Management LLC boosted its position in PennyMac Financial Services by 60.4% during the fourth quarter. MorganRosel Wealth Management LLC now owns 11,728 shares of the real estate investment trust’s stock valued at $1,198,000 after buying an additional 4,416 shares during the period. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, CFO Daniel Stanley Perotti sold 16,481 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $101.56, for a total transaction of $1,673,810.36. Following the completion of the transaction, the chief financial officer now directly owns 37,501 shares in the company, valued at $3,808,601.56. This trade represents a 30.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David Spector sold 61,120 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $101.72, for a total transaction of $6,217,126.40. Following the completion of the transaction, the chief executive officer now owns 634,612 shares in the company, valued at approximately $64,552,732.64. The trade was a 8.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 150,697 shares of company stock worth $15,327,924 in the last three months. 16.60% of the stock is owned by corporate insiders.

PennyMac Financial Services Stock Performance

Shares of PFSI opened at $97.11 on Friday. The company has a 50-day simple moving average of $103.10 and a two-hundred day simple moving average of $104.98. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. The firm has a market capitalization of $4.99 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. PennyMac Financial Services, Inc. has a one year low of $83.03 and a one year high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. On average, analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio is presently 20.55%.

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.