AQR Capital Management LLC Lowers Stock Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

AQR Capital Management LLC lessened its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 47.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,943 shares of the real estate investment trust’s stock after selling 11,919 shares during the quarter. AQR Capital Management LLC’s holdings in PennyMac Financial Services were worth $1,224,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in PFSI. Blue Trust Inc. increased its position in PennyMac Financial Services by 1,529.6% during the second 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 last quarter. Hexagon Capital Partners LLC grew its holdings in shares of PennyMac Financial Services by 29.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 109 shares during the period. SG Americas Securities LLC acquired a new stake in PennyMac Financial Services during the 1st quarter worth approximately $202,000. Virtu Financial LLC purchased a new position in PennyMac Financial Services in the fourth quarter valued at approximately $253,000. Finally, Cannon Global Investment Management LLC acquired a new position in PennyMac Financial Services during the second quarter valued at approximately $255,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, Director Anne Mccallion sold 23,829 shares of the business’s stock in a transaction 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 transaction, the director now owns 1,854 shares of the company’s stock, valued at approximately $191,221.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $99.31, for a total transaction of $993,100.00. Following the transaction, the chief executive officer now directly owns 210,604 shares in the company, valued at approximately $20,915,083.24. This represents a 0.00 % decrease in their position. 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 the firm’s 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 directly owns 1,854 shares in the company, valued at approximately $191,221.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,855 shares of company stock valued at $8,571,899. Corporate insiders own 16.60% of the company’s stock.

PennyMac Financial Services Price Performance

Shares of PennyMac Financial Services stock opened at $106.18 on Friday. PennyMac Financial Services, Inc. has a twelve month low of $62.15 and a twelve month high of $119.13. The firm has a market cap of $5.41 billion, a P/E ratio of 36.87, a price-to-earnings-growth ratio of 0.66 and a beta of 1.77. The firm’s 50-day simple moving average is $105.93 and its 200-day simple moving average is $97.07. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.37 and a current ratio of 0.37.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly 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). PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The company had revenue of $406.13 million during the quarter, compared to the consensus estimate of $469.64 million. During the same quarter last year, the company earned $1.11 earnings per share. The business’s revenue was up 20.7% on a year-over-year basis. As a group, research analysts expect that PennyMac Financial Services, Inc. will post 11.06 EPS for the current fiscal year.

PennyMac Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.13%. This is a boost 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 is currently 41.67%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. 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 for the company. in a research report on Monday, July 22nd. StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Piper Sandler lifted their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Barclays raised their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Wedbush increased their target price 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $111.50.

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.