Blue Trust Inc. Grows Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Blue Trust Inc. increased its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 59.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 702 shares of the real estate investment trust’s stock after buying an additional 262 shares during the period. Blue Trust Inc.’s holdings in PennyMac Financial Services were worth $80,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hexagon Capital Partners LLC raised its stake in PennyMac Financial Services by 29.6% during the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 109 shares in the last quarter. QRG Capital Management Inc. grew its position in shares of PennyMac Financial Services by 0.7% in 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 in the last quarter. Arizona State Retirement System increased its holdings in shares of PennyMac Financial Services by 2.9% in the 2nd quarter. Arizona State Retirement System now owns 11,999 shares of the real estate investment trust’s stock valued at $1,135,000 after acquiring an additional 336 shares during the last quarter. ProShare Advisors LLC raised its position in shares of PennyMac Financial Services by 8.5% during the 1st quarter. ProShare Advisors LLC now owns 4,587 shares of the real estate investment trust’s stock valued at $418,000 after acquiring an additional 361 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in PennyMac Financial Services by 0.8% during the second quarter. Federated Hermes Inc. now owns 51,908 shares of the real estate investment trust’s stock worth $4,910,000 after purchasing an additional 396 shares during the last quarter. Institutional investors own 57.87% of the company’s stock.

Insider Activity at PennyMac Financial Services

In related news, CEO David Spector sold 10,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $99.31, for a total value of $993,100.00. Following the completion of the transaction, the chief executive officer now owns 210,604 shares in the company, valued at $20,915,083.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $99.31, for a total value of $993,100.00. Following the completion of the sale, the chief executive officer now directly owns 210,604 shares of the company’s stock, valued at approximately $20,915,083.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anne Mccallion sold 23,829 shares of the stock in a transaction that occurred 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 transaction, the director now owns 1,854 shares of the company’s stock, valued at $191,221.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,855 shares of company stock worth $9,647,599 over the last ninety days. 16.60% of the stock is currently owned by corporate insiders.

PennyMac Financial Services Price Performance

NYSE PFSI opened at $100.70 on Thursday. The company has a 50-day moving average price of $107.96 and a two-hundred day moving average price of $98.53. PennyMac Financial Services, Inc. has a 52 week low of $66.59 and a 52 week high of $119.13. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of 31.97, a price-to-earnings-growth ratio of 0.58 and a beta of 1.77. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.28% and a net margin of 11.45%. The business had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. During the same period last year, the company earned $1.77 earnings per share. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. Analysts forecast that PennyMac Financial Services, Inc. will post 11.88 EPS for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date is Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is 38.10%.

Analysts Set New Price Targets

Several analysts have weighed in on PFSI shares. Keefe, Bruyette & Woods lowered shares of 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. Barclays boosted their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Piper Sandler increased their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. StockNews.com downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. 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 investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.86.

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.