PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Bought by Maverick Capital Ltd.

Maverick Capital Ltd. raised its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 263.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,904 shares of the real estate investment trust’s stock after buying an additional 9,357 shares during the period. Maverick Capital Ltd.’s holdings in PennyMac Financial Services were worth $1,221,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Blue Trust Inc. increased its stake in PennyMac Financial Services by 1,529.6% in the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 413 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings 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 acquiring an additional 109 shares during the last quarter. TFO Wealth Partners LLC lifted its position 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 acquiring an additional 1,141 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of PennyMac Financial Services during the first quarter valued at $202,000. Finally, Cannon Global Investment Management LLC purchased a new stake in PennyMac Financial Services during the 2nd quarter worth about $255,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PFSI has been the topic of a number of recent research reports. StockNews.com lowered shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods downgraded shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price objective on the stock. in a research note on Monday, July 22nd. Piper Sandler raised their target price on shares of PennyMac Financial Services from $110.00 to $112.00 and gave the stock an “overweight” rating in a research 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 report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, two have assigned 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 Price Performance

PFSI opened at $113.81 on Friday. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a market capitalization of $5.80 billion, a PE ratio of 39.52, a P/E/G ratio of 0.73 and a beta of 1.77. PennyMac Financial Services, Inc. has a 1 year low of $62.15 and a 1 year high of $119.13. The company’s 50 day simple moving average is $103.89 and its 200 day simple moving average is $95.61.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing analysts’ consensus estimates 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 12.69% and a net margin of 13.13%. The company’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.11 earnings per share. As a group, sell-side analysts expect that PennyMac Financial Services, Inc. will post 10.61 EPS for the current year.

PennyMac Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.05%. This is an increase from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, August 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is 41.67%.

Insider Transactions at PennyMac Financial Services

In related 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 220,604 shares of the company’s stock, valued at approximately $20,308,804.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Steven Richard Bailey sold 14,130 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $116.88, for a total value of $1,651,514.40. Following the completion of the transaction, the insider now directly owns 14,670 shares in the company, valued at $1,714,629.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,855 shares of company stock worth $9,492,499. 16.60% of the stock is currently owned by company insiders.

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.