Alliancebernstein L.P. Has $9.30 Million Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Alliancebernstein L.P. lessened its position in PennyMac Financial Services, Inc. (NYSE:PFSI) by 3.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 91,043 shares of the real estate investment trust’s stock after selling 3,516 shares during the quarter. Alliancebernstein L.P.’s holdings in PennyMac Financial Services were worth $9,299,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its stake in shares of PennyMac Financial Services by 54.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 389 shares in the last quarter. KBC Group NV grew its position in PennyMac Financial Services by 15.6% in the fourth quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock valued at $158,000 after purchasing an additional 209 shares in the last quarter. Verition Fund Management LLC acquired a new stake in PennyMac Financial Services in the 3rd quarter valued at $203,000. Hohimer Wealth Management LLC bought a new stake in PennyMac Financial Services during the 3rd quarter worth about $236,000. Finally, Cibc World Markets Corp bought a new stake in PennyMac Financial Services during the 4th quarter worth about $255,000. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI opened at $89.31 on Friday. PennyMac Financial Services, Inc. has a 12 month low of $83.03 and a 12 month high of $119.13. The company has a market capitalization of $4.59 billion, a P/E ratio of 15.29, a P/E/G ratio of 0.19 and a beta of 1.73. The stock has a 50 day moving average of $100.31 and a 200-day moving average of $103.40. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. As a group, equities research analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The company 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 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services’s payout ratio is 20.55%.

Insider Transactions at PennyMac Financial Services

In related news, CFO Daniel Stanley Perotti sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $101.49, for a total value of $1,065,645.00. Following the completion of the sale, the chief financial officer now directly owns 214,997 shares in the company, valued at approximately $21,820,045.53. The trade was a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider James Follette sold 1,983 shares of the firm’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $99.93, for a total value of $198,161.19. Following the transaction, the insider now owns 10,497 shares in the company, valued at approximately $1,048,965.21. This trade represents a 15.89 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,464 shares of company stock worth $4,540,867. Company insiders own 16.60% of the company’s stock.

Wall Street Analyst Weigh In

PFSI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 target price on the stock in a research report on Tuesday. Piper Sandler decreased their price target on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PennyMac Financial Services presently has an average rating of “Moderate Buy” and an average target price of $122.67.

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.