Jacobs Levy Equity Management Inc. Increases Stock Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Jacobs Levy Equity Management Inc. lifted its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 0.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,882 shares of the real estate investment trust’s stock after buying an additional 1,190 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.27% of PennyMac Financial Services worth $12,742,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of PFSI. Norges Bank bought a new position in shares of PennyMac Financial Services during the 4th quarter valued at approximately $31,258,000. Boston Partners bought a new position in PennyMac Financial Services in the fourth quarter worth about $28,191,000. Dimensional Fund Advisors LP grew its stake in shares of PennyMac Financial Services by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,691,512 shares of the real estate investment trust’s stock worth $237,851,000 after acquiring an additional 70,178 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of PennyMac Financial Services during the first quarter worth about $6,182,000. Finally, Principal Financial Group Inc. grew its stake in shares of PennyMac Financial Services by 45.6% during the fourth quarter. Principal Financial Group Inc. now owns 162,541 shares of the real estate investment trust’s stock worth $14,364,000 after acquiring an additional 50,877 shares during the last quarter. 57.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PFSI has been the topic of a number of recent research reports. Piper Sandler upped their target price on PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Barclays upped their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Wedbush upped their target price on PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $107.17.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $93.16, for a total transaction of $931,600.00. Following the sale, the chief executive officer now owns 240,604 shares in the company, valued at approximately $22,414,668.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 16,465 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $90.73, for a total value of $1,493,869.45. Following the completion of the sale, the director now owns 116,546 shares in the company, valued at $10,574,218.58. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO David Spector sold 10,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $93.16, for a total transaction of $931,600.00. Following the sale, the chief executive officer now owns 240,604 shares of the company’s stock, valued at approximately $22,414,668.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,865 shares of company stock worth $8,045,169. Company insiders own 16.60% of the company’s stock.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI traded up $0.42 during mid-day trading on Wednesday, reaching $98.81. The company’s stock had a trading volume of 24,280 shares, compared to its average volume of 242,783. PennyMac Financial Services, Inc. has a 1-year low of $62.15 and a 1-year high of $105.94. The stock has a market capitalization of $5.03 billion, a P/E ratio of 34.16, a P/E/G ratio of 0.64 and a beta of 1.72. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.39 and a current ratio of 0.39. The stock has a 50-day moving average of $94.04 and a two-hundred day moving average of $90.47.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). The firm had revenue of $406.13 million during the quarter, compared to analysts’ expectations of $469.64 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.78%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.11 EPS. On average, equities research analysts anticipate that PennyMac Financial Services, Inc. will post 10.54 EPS for the current fiscal year.

PennyMac Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th will be issued a dividend of $0.30 per share. The ex-dividend date is Tuesday, August 13th. This is a boost from PennyMac Financial Services’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.21%. PennyMac Financial Services’s dividend payout ratio is currently 27.78%.

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.