Senvest Management LLC Sells 120,069 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Senvest Management LLC lowered its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 10.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 989,062 shares of the real estate investment trust’s stock after selling 120,069 shares during the quarter. PennyMac Financial Services accounts for approximately 3.9% of Senvest Management LLC’s investment portfolio, making the stock its 12th largest holding. Senvest Management LLC’s holdings in PennyMac Financial Services were worth $112,723,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PFSI. Russell Investments Group Ltd. raised its stake in PennyMac Financial Services by 91.3% in the first quarter. Russell Investments Group Ltd. now owns 19,246 shares of the real estate investment trust’s stock valued at $1,753,000 after purchasing an additional 9,183 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of PennyMac Financial Services by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust’s stock worth $238,509,000 after buying an additional 8,345 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of PennyMac Financial Services in the 1st quarter worth $315,000. CANADA LIFE ASSURANCE Co raised its position in shares of PennyMac Financial Services by 3.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 23,433 shares of the real estate investment trust’s stock valued at $2,134,000 after buying an additional 689 shares in the last quarter. Finally, 1832 Asset Management L.P. bought a new stake in shares of PennyMac Financial Services during the 1st quarter worth $1,785,000. Institutional investors own 57.87% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Piper Sandler increased 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. Wells Fargo & Company increased their price objective on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Barclays boosted their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Wedbush reiterated an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.86.

PennyMac Financial Services Trading Up 1.6 %

NYSE PFSI opened at $105.62 on Friday. The firm has a market cap of $5.41 billion, a PE ratio of 33.53 and a beta of 1.79. PennyMac Financial Services, Inc. has a 1-year low of $76.57 and a 1-year high of $119.13. The stock has a 50-day moving average of $106.77 and a 200-day moving average of $100.23. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The company had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. During the same quarter in the previous year, the firm posted $1.77 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that PennyMac Financial Services, Inc. will post 11.88 EPS for the current year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 1.14%. PennyMac Financial Services’s payout ratio is currently 38.10%.

Insiders Place Their Bets

In related news, CAO Gregory L. Hendry sold 3,032 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total value of $309,536.88. Following the completion of the sale, the chief accounting officer now owns 48,040 shares of the company’s stock, valued at $4,904,403.60. This trade represents a 5.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anne Mccallion sold 23,829 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $103.14, for a total transaction of $2,457,723.06. Following the transaction, the director now directly owns 1,854 shares in the company, valued at approximately $191,221.56. The trade was a 92.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 91,991 shares of company stock valued at $9,948,749 in the last quarter. Insiders own 16.60% of the company’s stock.

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.