PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Sold by Quest Partners LLC

Quest Partners LLC reduced its holdings in PennyMac Financial Services, Inc. (NYSE:PFSIFree Report) by 20.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,296 shares of the real estate investment trust’s stock after selling 841 shares during the quarter. Quest Partners LLC’s holdings in PennyMac Financial Services were worth $376,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. acquired a new stake in shares of PennyMac Financial Services in the 3rd quarter worth approximately $37,000. Blue Trust Inc. boosted its stake 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 valued at $40,000 after purchasing an additional 413 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in 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 valued at $45,000 after purchasing an additional 109 shares in the last quarter. KBC Group NV increased its position in shares of PennyMac Financial Services by 20.3% during the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 226 shares during the period. Finally, Aigen Investment Management LP bought a new stake in shares of PennyMac Financial Services in the 3rd quarter worth $280,000. Institutional investors own 57.87% of the company’s stock.

Analyst Upgrades and Downgrades

PFSI has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Wedbush reaffirmed an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Piper Sandler increased their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Barclays lifted their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $115.86.

Get Our Latest Stock Report on PFSI

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock opened at $105.62 on Monday. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market cap of $5.41 billion, a P/E ratio of 33.53 and a beta of 1.79. PennyMac Financial Services, Inc. has a fifty-two week low of $76.57 and a fifty-two week high of $119.13. The firm’s 50 day simple moving average is $106.77 and its 200-day simple moving average is $100.29.

PennyMac Financial Services (NYSE:PFSIGet Free Report) last posted 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). The firm had revenue of $411.83 million for the quarter, compared to analysts’ expectations of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.77 earnings per share. As a group, equities research analysts predict that PennyMac Financial Services, Inc. will post 11.88 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 18th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.14%. The ex-dividend date is Monday, November 18th. PennyMac Financial Services’s dividend payout ratio is currently 38.10%.

Insider Buying and Selling

In other news, insider Steven Richard Bailey sold 14,130 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 14,670 shares of the company’s stock, valued at approximately $1,714,629.60. This represents a 49.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Gregory L. Hendry sold 3,032 shares of PennyMac Financial Services stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total value of $309,536.88. Following the sale, the chief accounting officer now directly owns 48,040 shares of the company’s stock, valued at approximately $4,904,403.60. The trade was a 5.94 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,162 shares of company stock valued at $7,491,026. Corporate insiders own 16.60% of the company’s stock.

PennyMac Financial Services Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding PFSI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PennyMac Financial Services, Inc. (NYSE:PFSIFree Report).

Institutional Ownership by Quarter for PennyMac Financial Services (NYSE:PFSI)

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