Clough Capital Partners L P Acquires Shares of 40,890 PennyMac Financial Services, Inc. $PFSI

Clough Capital Partners L P acquired a new stake in PennyMac Financial Services, Inc. (NYSE:PFSI) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 40,890 shares of the real estate investment trust’s stock, valued at approximately $5,391,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PFSI. EverSource Wealth Advisors LLC purchased a new stake in PennyMac Financial Services in the 2nd quarter valued at about $26,000. Strs Ohio purchased a new stake in shares of PennyMac Financial Services during the 1st quarter worth approximately $30,000. Los Angeles Capital Management LLC purchased a new stake in shares of PennyMac Financial Services during the 4th quarter worth approximately $31,000. GAMMA Investing LLC increased its stake in shares of PennyMac Financial Services by 97.3% during the 4th quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 142 shares during the last quarter. Finally, Clearstead Advisors LLC increased its stake in shares of PennyMac Financial Services by 131.8% during the 4th quarter. Clearstead Advisors LLC now owns 503 shares of the real estate investment trust’s stock worth $66,000 after purchasing an additional 286 shares during the last quarter. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $87.99, for a total value of $879,900.00. Following the sale, the chief executive officer directly owned 60,604 shares in the company, valued at $5,332,545.96. This represents a 14.16% 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. Also, CFO Daniel Stanley Perotti sold 2,925 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $87.50, for a total transaction of $255,937.50. Following the completion of the sale, the chief financial officer owned 210,625 shares in the company, valued at $18,429,687.50. This represents a 1.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 22,925 shares of company stock worth $2,064,138 over the last quarter. Corporate insiders own 15.80% of the company’s stock.

PennyMac Financial Services Price Performance

Shares of NYSE:PFSI opened at $81.12 on Thursday. The company has a 50 day moving average of $87.16 and a 200 day moving average of $104.46. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 3.63. The stock has a market cap of $4.21 billion, a P/E ratio of 8.62, a P/E/G ratio of 0.54 and a beta of 1.44. PennyMac Financial Services, Inc. has a 12 month low of $77.67 and a 12 month high of $160.36.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.22 by ($0.03). PennyMac Financial Services had a return on equity of 10.93% and a net margin of 23.47%.The firm had revenue of $544.98 million during the quarter, compared to analysts’ expectations of $546.17 million. During the same quarter in the prior year, the company earned $1.42 earnings per share. The business’s revenue for the quarter was up 26.5% compared to the same quarter last year. As a group, sell-side analysts forecast that PennyMac Financial Services, Inc. will post 10.68 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Shareholders of record on Monday, May 18th were paid a $0.30 dividend. The ex-dividend date was Monday, May 18th. This represents a $1.20 annualized dividend and a yield of 1.5%. PennyMac Financial Services’s dividend payout ratio is currently 12.75%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PFSI shares. Wells Fargo & Company decreased their price target on shares of PennyMac Financial Services from $110.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods decreased their price target on shares of PennyMac Financial Services from $115.00 to $108.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Stephens started coverage on shares of PennyMac Financial Services in a research note on Friday, April 24th. They set an “equal weight” rating and a $100.00 price target for the company. Zacks Research lowered shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research note on Friday, May 8th. Finally, BTIG Research cut their price objective on shares of PennyMac Financial Services from $150.00 to $105.00 and set a “buy” rating for the company in a report on Tuesday. Six equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $117.13.

PennyMac Financial Services Company 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.