PennyMac Financial Services, Inc. (NYSE:PFSI) Stock Holdings Raised by EMG Holdings L.P.

EMG Holdings L.P. lifted its position in PennyMac Financial Services, Inc. (NYSE:PFSI) by 107.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,451 shares of the real estate investment trust’s stock after buying an additional 33,370 shares during the quarter. PennyMac Financial Services makes up approximately 3.0% of EMG Holdings L.P.’s portfolio, making the stock its 7th biggest holding. EMG Holdings L.P. owned approximately 0.13% of PennyMac Financial Services worth $6,097,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PFSI. Quadrature Capital Ltd purchased a new stake in PennyMac Financial Services in the fourth quarter valued at approximately $967,000. UBS Group AG raised its stake in PennyMac Financial Services by 40.6% in the fourth quarter. UBS Group AG now owns 82,027 shares of the real estate investment trust’s stock valued at $7,249,000 after purchasing an additional 23,696 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its stake in PennyMac Financial Services by 165.0% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 24,753 shares of the real estate investment trust’s stock valued at $2,187,000 after purchasing an additional 15,412 shares in the last quarter. Denali Advisors LLC raised its stake in PennyMac Financial Services by 179.2% in the first quarter. Denali Advisors LLC now owns 41,600 shares of the real estate investment trust’s stock valued at $3,789,000 after purchasing an additional 26,700 shares in the last quarter. Finally, 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. 57.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PFSI. StockNews.com downgraded shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price target on the stock. in a research report on Monday, July 22nd. Wedbush increased their price target on shares of 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, Piper Sandler increased their price target on shares of PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $107.17.

Insider Transactions at PennyMac Financial Services

In other news, CEO David Spector sold 10,000 shares of the firm’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 value of $920,600.00. Following the transaction, the chief executive officer now owns 220,604 shares in the company, valued at $20,308,804.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction on 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 in the company, valued at $20,308,804.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Anne Mccallion sold 23,829 shares of PennyMac Financial Services 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 completion of the sale, the director now owns 1,854 shares in the company, valued at approximately $191,221.56. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,355 shares of company stock worth $8,306,734. Insiders own 16.60% of the company’s stock.

PennyMac Financial Services Stock Down 2.1 %

Shares of NYSE PFSI opened at $113.72 on Friday. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37. PennyMac Financial Services, Inc. has a one year low of $62.15 and a one year high of $119.13. The stock has a market capitalization of $5.82 billion, a P/E ratio of 39.49, a PEG ratio of 0.72 and a beta of 1.77. The firm’s 50 day simple moving average is $102.27 and its two-hundred day simple moving average is $94.38.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.65 by ($0.80). PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The firm had revenue of $406.13 million during the quarter, compared to the consensus estimate of $469.64 million. During the same quarter in the prior year, the business posted $1.11 EPS. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, analysts expect that PennyMac Financial Services, Inc. will post 10.61 EPS for the current fiscal year.

PennyMac Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were issued a $0.30 dividend. This is a boost from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.06%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 41.67%.

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.