HighVista Strategies LLC Acquires 6,100 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

HighVista Strategies LLC raised its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 46.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,337 shares of the real estate investment trust’s stock after purchasing an additional 6,100 shares during the quarter. HighVista Strategies LLC’s holdings in PennyMac Financial Services were worth $2,204,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. bought a new position in PennyMac Financial Services in the third quarter worth $37,000. Blue Trust Inc. grew its position in shares of PennyMac Financial Services by 1,529.6% in the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $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 2nd quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 109 shares in the last quarter. KBC Group NV lifted its position 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 acquiring an additional 226 shares during the period. Finally, Quantbot Technologies LP lifted its position in PennyMac Financial Services by 23.7% during the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 290 shares during the period. 57.87% of the stock is owned by institutional investors.

Insider Buying and Selling at PennyMac Financial Services

In other news, CFO Daniel Stanley Perotti sold 10,500 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $112.93, for a total transaction of $1,185,765.00. Following the completion of the sale, the chief financial officer now owns 235,997 shares of the company’s stock, valued at $26,651,141.21. The trade was a 4.26 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven Richard Bailey sold 14,130 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $116.88, for a total value of $1,651,514.40. Following the completion of the sale, the insider now owns 14,670 shares of the company’s stock, valued at $1,714,629.60. This trade represents a 49.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,162 shares of company stock valued at $7,491,026. 16.60% of the stock is owned by company insiders.

PennyMac Financial Services Trading Down 0.4 %

PennyMac Financial Services stock opened at $106.69 on Tuesday. PennyMac Financial Services, Inc. has a one year low of $78.71 and a one year high of $119.13. The business’s fifty day moving average is $105.96 and its 200 day moving average is $100.80. The stock has a market capitalization of $5.47 billion, a PE ratio of 33.87 and a beta of 1.78. 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 (NYSE:PFSI) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The company had revenue of $411.83 million for the quarter, compared to analysts’ expectations of $513.12 million. During the same period in the previous year, the business earned $1.77 EPS. The business’s revenue was up 2.9% compared to the same quarter last year. On average, sell-side analysts predict 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 was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 38.10%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PFSI. Wedbush reaffirmed an “outperform” rating and set a $130.00 target price on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Barclays lifted their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Piper Sandler increased their price objective on shares of 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, Wells Fargo & Company raised their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $115.86.

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.