Quest Partners LLC Boosts Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Quest Partners LLC lifted its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 493.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,137 shares of the real estate investment trust’s stock after purchasing an additional 3,440 shares during the period. Quest Partners LLC’s holdings in PennyMac Financial Services were worth $391,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PFSI. Blue Trust Inc. increased its holdings in PennyMac Financial Services by 1,529.6% during the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 413 shares during the period. Hexagon Capital Partners LLC grew its position in shares of 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 worth $45,000 after buying an additional 109 shares in the last quarter. TFO Wealth Partners LLC increased its stake in shares of PennyMac Financial Services by 16,300.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 1,141 shares during the period. SG Americas Securities LLC acquired a new stake in PennyMac Financial Services in the first quarter valued at approximately $202,000. Finally, Navellier & Associates Inc. purchased a new position in PennyMac Financial Services in the fourth quarter worth approximately $221,000. 57.87% of the stock is owned by hedge funds and other institutional investors.

PennyMac Financial Services Stock Performance

NYSE PFSI opened at $115.24 on Friday. The company has a fifty day moving average of $100.79 and a two-hundred day moving average of $93.66. The company has a market capitalization of $5.90 billion, a PE ratio of 40.01, a P/E/G ratio of 0.70 and a beta of 1.77. PennyMac Financial Services, Inc. has a 1 year low of $62.15 and a 1 year high of $115.65. 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 (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 the consensus estimate of $2.65 by ($0.80). The firm had revenue of $406.13 million during the quarter, compared to analysts’ expectations of $469.64 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The firm’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.11 earnings per share. As a group, analysts expect that PennyMac Financial Services, Inc. will post 10.54 earnings per share for the current year.

PennyMac Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.04%. PennyMac Financial Services’s dividend payout ratio (DPR) is 41.67%.

Wall Street Analyst Weigh In

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

Insider Activity

In related news, CEO David Spector sold 10,000 shares of the 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 owns 220,604 shares in the company, valued at approximately $20,308,804.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Anne Mccallion sold 23,829 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $103.14, for a total value of $2,457,723.06. Following the sale, the director now directly owns 1,854 shares of the company’s stock, valued at $191,221.56. The disclosure for this sale can be found here. Insiders have sold 55,225 shares of company stock valued at $5,487,319 in the last ninety days. 16.60% of the stock is currently owned by company insiders.

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.