Man Group plc Makes New Investment in PennyMac Financial Services, Inc. $PFSI

Man Group plc acquired a new stake in PennyMac Financial Services, Inc. (NYSE:PFSI) in the second quarter, according to its most recent filing with the SEC. The fund acquired 25,923 shares of the real estate investment trust’s stock, valued at approximately $2,258,000.

Several other large investors have also recently bought and sold shares of PFSI. Caitong International Asset Management Co. Ltd grew its stake in shares of PennyMac Financial Services by 7,600.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 228 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of PennyMac Financial Services in the 4th quarter worth $31,000. EverSource Wealth Advisors LLC bought a new stake in shares of PennyMac Financial Services during the 2nd quarter valued at $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of PennyMac Financial Services in the 2nd quarter worth about $25,000. Finally, Strs Ohio purchased a new stake in PennyMac Financial Services in the 1st quarter worth about $30,000. 57.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PFSI shares. Barclays cut their price objective on shares of PennyMac Financial Services from $93.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. Wall Street Zen lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Keefe, Bruyette & Woods decreased their price objective on shares of PennyMac Financial Services from $108.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Zacks Research downgraded PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a report on Friday, May 8th. Finally, BTIG Research reduced their price target on shares of PennyMac Financial Services from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $104.88.

Insider Buying and Selling

In other news, CAO Gregory L. Hendry sold 2,943 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $81.71, for a total value of $240,472.53. Following the transaction, the chief accounting officer directly owned 48,968 shares in the company, valued at $4,001,175.28. This trade represents a 5.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 15.20% of the company’s stock.

PennyMac Financial Services Trading Down 3.1%

Shares of PFSI stock opened at $70.83 on Wednesday. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 9.73, a PEG ratio of 0.69 and a beta of 1.44. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The firm has a 50-day moving average price of $80.02 and a 200 day moving average price of $84.98. PennyMac Financial Services, Inc. has a twelve month low of $70.67 and a twelve month high of $160.36.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Wednesday, July 29th. The real estate investment trust reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.11 by ($0.72). PennyMac Financial Services had a return on equity of 11.18% and a net margin of 17.74%.PennyMac Financial Services’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same quarter last year, the business posted $2.54 EPS. Research analysts forecast that PennyMac Financial Services, Inc. will post 7.36 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Monday, August 17th. PennyMac Financial Services’s payout ratio is presently 16.48%.

PennyMac Financial Services Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.