Quantbot Technologies LP Acquires New Shares in PennyMac Financial Services, Inc. $PFSI

Quantbot Technologies LP bought a new position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 35,045 shares of the real estate investment trust’s stock, valued at approximately $3,052,000. Quantbot Technologies LP owned about 0.07% of PennyMac Financial Services at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. AQR Capital Management LLC grew its holdings in PennyMac Financial Services by 3.8% during the first quarter. AQR Capital Management LLC now owns 24,012 shares of the real estate investment trust’s stock valued at $2,404,000 after purchasing an additional 875 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of PennyMac Financial Services by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,923 shares of the real estate investment trust’s stock valued at $1,594,000 after buying an additional 706 shares during the period. Intech Investment Management LLC increased its position in shares of PennyMac Financial Services by 5.8% in the 1st quarter. Intech Investment Management LLC now owns 15,382 shares of the real estate investment trust’s stock valued at $1,540,000 after buying an additional 840 shares in the last quarter. Strs Ohio acquired a new stake in PennyMac Financial Services during the 1st quarter worth $30,000. Finally, Prudential Financial Inc. lifted its holdings in PennyMac Financial Services by 82.8% during the second quarter. Prudential Financial Inc. now owns 4,084 shares of the real estate investment trust’s stock worth $413,000 after acquiring an additional 1,850 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PFSI has been the topic of several recent analyst reports. Wall Street Zen cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Piper Sandler lowered shares of PennyMac Financial Services from an “overweight” rating to a “neutral” rating and cut their price target for the company from $106.00 to $86.00 in a research note on Thursday, July 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of PennyMac Financial Services in a report on Monday, August 3rd. Barclays decreased their price objective on PennyMac Financial Services from $93.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Finally, 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. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, PennyMac Financial Services currently has an average rating of “Hold” and a consensus target price of $104.88.

PennyMac Financial Services Trading Up 0.0%

Shares of NYSE:PFSI opened at $75.10 on Monday. PennyMac Financial Services, Inc. has a 12-month low of $71.68 and a 12-month high of $160.36. The business has a 50 day moving average of $81.20 and a 200-day moving average of $86.02. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 3.22. The stock has a market cap of $3.90 billion, a PE ratio of 10.32, a P/E/G ratio of 0.71 and a beta of 1.45.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $1.39 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 in the prior year, the business earned $2.54 EPS. As a group, equities research analysts forecast that PennyMac Financial Services, Inc. will post 7.36 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Monday, August 17th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, August 17th. PennyMac Financial Services’s payout ratio is currently 16.48%.

Insider Activity

In other PennyMac Financial Services news, CAO Gregory L. Hendry sold 2,177 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $86.89, for a total value of $189,159.53. Following the sale, the chief accounting officer owned 48,968 shares in the company, valued at $4,254,829.52. This trade represents a 4.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 15.20% of the company’s stock.

About PennyMac Financial Services

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.