Mercer Global Advisors Inc. ADV Buys 1,988 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Mercer Global Advisors Inc. ADV increased its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 6.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 33,209 shares of the real estate investment trust’s stock after purchasing an additional 1,988 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in PennyMac Financial Services were worth $3,142,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC lifted its stake in shares of PennyMac Financial Services by 29.6% in the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 109 shares during the last quarter. QRG Capital Management Inc. lifted its position in PennyMac Financial Services by 0.7% during the 1st quarter. QRG Capital Management Inc. now owns 33,892 shares of the real estate investment trust’s stock worth $3,087,000 after acquiring an additional 232 shares during the last quarter. MorganRosel Wealth Management LLC boosted its holdings in PennyMac Financial Services by 2.2% during the first quarter. MorganRosel Wealth Management LLC now owns 10,811 shares of the real estate investment trust’s stock valued at $985,000 after acquiring an additional 236 shares during the period. Arizona State Retirement System grew its position in shares of PennyMac Financial Services by 2.9% in the second quarter. Arizona State Retirement System now owns 11,999 shares of the real estate investment trust’s stock valued at $1,135,000 after purchasing an additional 336 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of PennyMac Financial Services by 8.5% in the first quarter. ProShare Advisors LLC now owns 4,587 shares of the real estate investment trust’s stock worth $418,000 after purchasing an additional 361 shares during the period. Institutional investors own 57.87% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods downgraded PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price for the company. in a research note on Monday, July 22nd. Piper Sandler raised their price objective on shares of PennyMac Financial Services from $110.00 to $112.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. StockNews.com lowered shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Finally, Wedbush raised their price target on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $107.17.

Insider Buying and Selling

In other PennyMac Financial Services news, insider Steven Richard Bailey sold 14,130 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $116.88, for a total value of $1,651,514.40. Following the sale, the insider now directly owns 14,670 shares in the company, valued at $1,714,629.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the business’s 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 transaction, the chief executive officer now directly 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 available through this link. Also, insider Steven Richard Bailey sold 14,130 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the sale, the insider now directly owns 14,670 shares of the company’s stock, valued at approximately $1,714,629.60. The disclosure for this sale can be found here. Insiders sold 79,355 shares of company stock worth $8,306,734 in the last 90 days. 16.60% of the stock is owned by company insiders.

PennyMac Financial Services Stock Down 1.6 %

PFSI opened at $111.80 on Monday. PennyMac Financial Services, Inc. has a fifty-two week low of $62.15 and a fifty-two week high of $119.13. The company has a market capitalization of $5.69 billion, a P/E ratio of 38.82, a P/E/G ratio of 0.75 and a beta of 1.77. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37. The firm’s fifty day moving average price is $102.81 and its two-hundred day moving average price is $94.83.

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

PennyMac Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Tuesday, August 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Tuesday, August 13th. This is an increase from PennyMac Financial Services’s previous quarterly dividend of $0.20. PennyMac Financial Services’s dividend payout ratio (DPR) is 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.