1,781 Shares in PennyMac Financial Services, Inc. (NYSE:PFSI) Purchased by Verition Fund Management LLC

Verition Fund Management LLC acquired a new position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,781 shares of the real estate investment trust’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Harbor Capital Advisors Inc. purchased a new position in shares of PennyMac Financial Services in the 3rd quarter valued at about $37,000. Blue Trust Inc. boosted its stake 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 valued at $40,000 after buying an additional 413 shares during the period. KBC Group NV boosted its stake in shares of PennyMac Financial Services by 20.3% in the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 226 shares during the period. Quantbot Technologies LP boosted its stake in shares of PennyMac Financial Services by 23.7% in the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after buying an additional 290 shares during the period. Finally, Northwest & Ethical Investments L.P. boosted its stake in shares of PennyMac Financial Services by 38.3% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 2,330 shares of the real estate investment trust’s stock valued at $266,000 after buying an additional 645 shares during the period. 57.87% of the stock is owned by institutional investors and hedge funds.

PennyMac Financial Services Stock Up 0.5 %

PennyMac Financial Services stock opened at $105.01 on Tuesday. 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, Inc. has a 1-year low of $81.93 and a 1-year high of $119.13. The company has a market cap of $5.38 billion, a PE ratio of 33.34 and a beta of 1.78. The stock’s 50 day moving average price is $104.71 and its 200 day moving average price is $101.87.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). The firm had revenue of $411.83 million for the quarter, compared to analysts’ expectations of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The firm’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.77 earnings per share. On average, sell-side analysts predict that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were given a $0.30 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.14%. PennyMac Financial Services’s dividend payout ratio is currently 38.10%.

Insider Activity

In other PennyMac Financial Services news, CAO Gregory L. Hendry sold 3,032 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total transaction of $309,536.88. Following the completion of the sale, the chief accounting officer now directly owns 48,040 shares in the company, valued at $4,904,403.60. This represents a 5.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $112.93, for a total value of $1,185,765.00. Following the sale, the chief financial officer now owns 235,997 shares of the company’s stock, valued at $26,651,141.21. This represents a 4.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 54,032 shares of company stock worth $5,721,112 over the last three months. 16.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on PFSI. Piper Sandler boosted their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Wedbush restated an “outperform” rating and set a $130.00 target price on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods decreased their target price on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research note on Tuesday, December 10th. Finally, Barclays boosted their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $122.50.

PennyMac Financial Services Profile

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.