Advantage Alpha Capital Partners LP Sells 14,612 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Advantage Alpha Capital Partners LP lessened its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 21.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,417 shares of the real estate investment trust’s stock after selling 14,612 shares during the quarter. PennyMac Financial Services accounts for 1.4% of Advantage Alpha Capital Partners LP’s investment portfolio, making the stock its 24th biggest position. Advantage Alpha Capital Partners LP owned 0.10% of PennyMac Financial Services worth $5,974,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its stake in PennyMac Financial Services by 231.9% in the 3rd quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock worth $133,003,000 after purchasing an additional 815,389 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of PennyMac Financial Services by 7.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust’s stock worth $50,985,000 after purchasing an additional 31,035 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of PennyMac Financial Services in the third quarter worth approximately $24,644,000. Intech Investment Management LLC purchased a new position in shares of PennyMac Financial Services in the third quarter worth $956,000. Finally, KBC Group NV raised its holdings in 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 buying an additional 226 shares during the last quarter. 57.87% of the stock is owned by institutional investors.

Insider Buying and Selling at PennyMac Financial Services

In related news, CFO Daniel Stanley Perotti sold 10,500 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $100.02, for a total value of $1,050,210.00. Following the sale, the chief financial officer now owns 225,497 shares in the company, valued at $22,554,209.94. This represents a 4.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 transaction, the chief accounting officer now owns 48,040 shares of the company’s stock, valued at $4,904,403.60. The trade was a 5.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,162 shares of company stock valued at $7,491,026. 16.60% of the stock is currently owned by company insiders.

PennyMac Financial Services Price Performance

PFSI stock opened at $107.68 on Tuesday. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. PennyMac Financial Services, Inc. has a 1 year low of $76.57 and a 1 year high of $119.13. The firm has a 50-day moving average of $106.59 and a 200 day moving average of $100.39. The company has a market cap of $5.52 billion, a P/E ratio of 34.18 and a beta of 1.79.

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

PennyMac Financial Services Announces Dividend

The company 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 $0.30 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.11%. PennyMac Financial Services’s dividend payout ratio (DPR) is 38.10%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Piper Sandler raised their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Barclays boosted their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Wedbush reiterated an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.