QRG Capital Management Inc. Has $2.05 Million Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

QRG Capital Management Inc. lessened its position in PennyMac Financial Services, Inc. (NYSE:PFSI) by 48.4% in the third quarter, Holdings Channel.com reports. The firm owned 18,003 shares of the real estate investment trust’s stock after selling 16,897 shares during the quarter. QRG Capital Management Inc.’s holdings in PennyMac Financial Services were worth $2,052,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PFSI. Harbor Capital Advisors Inc. acquired a new stake in shares of PennyMac Financial Services in the third quarter valued at about $37,000. Blue Trust Inc. increased its stake in shares of PennyMac Financial Services by 1,529.6% in the second quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 413 shares during the period. Hexagon Capital Partners LLC increased 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 valued at $45,000 after buying an additional 109 shares during the period. SG Americas Securities LLC acquired a new stake in shares of PennyMac Financial Services in the first quarter valued at about $202,000. Finally, nVerses Capital LLC acquired a new stake in shares of PennyMac Financial Services in the third quarter valued at about $285,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

Wall Street Analyst Weigh In

PFSI has been the topic of several research analyst reports. Wedbush restated an “outperform” rating and set a $130.00 target price on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Wells Fargo & Company upped their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 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 research report on Monday, July 22nd. Piper Sandler upped their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Barclays upped their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $115.86.

PennyMac Financial Services Stock Performance

PFSI opened at $103.63 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75. The company’s fifty day moving average price is $107.78 and its two-hundred day moving average price is $99.04. PennyMac Financial Services, Inc. has a 1-year low of $70.29 and a 1-year high of $119.13. The company has a market cap of $5.30 billion, a price-to-earnings ratio of 32.90 and a beta of 1.79.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The business had revenue of $411.83 million for the quarter, compared to analyst estimates of $513.12 million. During the same quarter in the previous year, the company posted $1.77 EPS. The business’s quarterly revenue was up 2.9% on a year-over-year basis. On average, analysts expect that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.30 per share. The ex-dividend date is Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 1.16%. PennyMac Financial Services’s payout ratio is 38.10%.

Insider Activity

In other news, Director Joseph F. Mazzella sold 11,396 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $97.92, for a total value of $1,115,896.32. Following the completion of the sale, the director now owns 105,446 shares in the company, valued at $10,325,272.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Joseph F. Mazzella sold 11,396 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $97.92, for a total value of $1,115,896.32. Following the completion of the sale, the director now owns 105,446 shares in the company, valued at $10,325,272.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction of $993,100.00. Following the completion of the sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold a total of 89,855 shares of company stock worth $9,647,599 over the last quarter. Insiders own 16.60% of the company’s stock.

PennyMac Financial Services Company 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.