Jacobs Levy Equity Management Inc. Buys 1,190 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Jacobs Levy Equity Management Inc. grew its position in PennyMac Financial Services, Inc. (NYSE:PFSI) by 0.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 139,882 shares of the real estate investment trust’s stock after purchasing an additional 1,190 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in PennyMac Financial Services were worth $12,742,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. USA Financial Formulas bought a new position in PennyMac Financial Services in the fourth quarter valued at approximately $25,000. Hexagon Capital Partners LLC boosted its position in PennyMac Financial Services by 128.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 205 shares during the last quarter. Parkside Financial Bank & Trust bought a new position in shares of PennyMac Financial Services during the 4th quarter worth approximately $36,000. TFO Wealth Partners LLC raised its holdings in shares of PennyMac Financial Services by 16,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 1,141 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of PennyMac Financial Services during the 1st quarter worth about $202,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

Insider Buying and Selling

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $92.06, for a total value of $920,600.00. Following the sale, the chief executive officer now owns 220,604 shares of the company’s stock, valued at $20,308,804.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $92.06, for a total transaction of $920,600.00. Following the sale, the chief executive officer now directly owns 220,604 shares in the company, valued at approximately $20,308,804.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph F. Mazzella sold 16,465 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 116,546 shares of the company’s stock, valued at $10,574,218.58. The disclosure for this sale can be found here. Insiders sold 87,865 shares of company stock valued at $8,045,169 over the last 90 days. Company insiders own 16.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PFSI shares. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. StockNews.com cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Barclays increased their price target on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Piper Sandler upped their price objective on PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Finally, Wedbush boosted their price target on PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. One 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $107.17.

PennyMac Financial Services Trading Up 0.4 %

NYSE:PFSI traded up $0.42 during mid-day trading on Wednesday, hitting $98.81. 24,280 shares of the company’s stock were exchanged, compared to its average volume of 242,783. The firm has a market capitalization of $5.03 billion, a P/E ratio of 34.16, a PEG ratio of 0.64 and a beta of 1.72. PennyMac Financial Services, Inc. has a fifty-two week low of $62.15 and a fifty-two week high of $105.94. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.33. The company has a 50 day simple moving average of $94.04 and a 200-day simple moving average of $90.47.

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

PennyMac Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Tuesday, August 13th will be given a dividend of $0.30 per share. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.21%. PennyMac Financial Services’s dividend payout ratio is presently 27.78%.

PennyMac Financial Services Company 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.