nVerses Capital LLC Acquires Shares of 2,500 PennyMac Financial Services, Inc. (NYSE:PFSI)

nVerses Capital LLC bought a new position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,500 shares of the real estate investment trust’s stock, valued at approximately $285,000.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. grew its stake in PennyMac Financial Services by 1,529.6% during the second 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 in the last quarter. Hexagon Capital Partners LLC increased its stake in PennyMac Financial Services by 29.6% in the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 109 shares during the last quarter. SG Americas Securities LLC acquired a new position in PennyMac Financial Services during the first quarter valued at approximately $202,000. Virtu Financial LLC bought a new stake in PennyMac Financial Services during the fourth quarter worth $253,000. Finally, Cannon Global Investment Management LLC acquired a new stake in shares of PennyMac Financial Services in the 2nd quarter valued at $255,000. Institutional investors own 57.87% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PFSI shares. Wedbush boosted their price target on PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Barclays raised their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. StockNews.com cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Piper Sandler raised their target price on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Finally, Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price on the stock. in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $111.50.

Insider Activity

In related news, Director Anne Mccallion sold 23,829 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $103.14, for a total value of $2,457,723.06. Following the transaction, the director now directly owns 1,854 shares of the company’s stock, valued at $191,221.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Anne Mccallion sold 23,829 shares of PennyMac Financial Services stock in a transaction on Monday, August 26th. The shares were sold at an average price of $103.14, for a total transaction of $2,457,723.06. Following the completion of the transaction, the director now owns 1,854 shares of the company’s stock, valued at $191,221.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Spector sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $99.31, for a total transaction of $993,100.00. Following the completion of the transaction, the chief executive officer now owns 210,604 shares in the company, valued at approximately $20,915,083.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,855 shares of company stock valued at $9,647,599. Company insiders own 16.60% of the company’s stock.

PennyMac Financial Services Stock Down 1.3 %

NYSE:PFSI opened at $109.37 on Friday. PennyMac Financial Services, Inc. has a one year low of $62.15 and a one year high of $119.13. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37. The company has a market cap of $5.60 billion, a PE ratio of 30.21, a P/E/G ratio of 0.66 and a beta of 1.77. The firm’s 50 day simple moving average is $107.36 and its 200 day simple moving average is $97.73.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). The business had revenue of $406.13 million for the quarter, compared to analyst estimates of $469.64 million. PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. PennyMac Financial Services’s revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.11 EPS. On average, research analysts anticipate that PennyMac Financial Services, Inc. will post 11.22 earnings per share for the current year.

PennyMac Financial Services Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were paid a $0.30 dividend. This is a boost from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.10%. PennyMac Financial Services’s dividend payout ratio is presently 33.15%.

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.