Caxton Associates LP Sells 3,482 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Caxton Associates LP lowered its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 59.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,392 shares of the real estate investment trust’s stock after selling 3,482 shares during the quarter. Caxton Associates LP’s holdings in PennyMac Financial Services were worth $226,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in PennyMac Financial Services by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust’s stock worth $238,509,000 after buying an additional 8,345 shares in the last quarter. Norges Bank bought a new stake in PennyMac Financial Services during the fourth quarter worth $31,258,000. American Century Companies Inc. grew its holdings in PennyMac Financial Services by 13.2% during the second quarter. American Century Companies Inc. now owns 347,979 shares of the real estate investment trust’s stock worth $32,919,000 after buying an additional 40,676 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in PennyMac Financial Services by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 182,245 shares of the real estate investment trust’s stock worth $17,240,000 after buying an additional 4,930 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in PennyMac Financial Services by 0.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 139,882 shares of the real estate investment trust’s stock worth $12,742,000 after buying an additional 1,190 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

Analysts Set New Price Targets

PFSI has been the topic of several research analyst reports. Keefe, Bruyette & Woods cut PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price objective on the stock. in a research report on Monday, July 22nd. Piper Sandler boosted their price objective on PennyMac Financial Services from $110.00 to $112.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. StockNews.com cut PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Finally, Wedbush boosted their price objective on PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $107.17.

PennyMac Financial Services Stock Up 1.4 %

Shares of NYSE PFSI opened at $113.81 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 business’s fifty day moving average price is $103.89 and its 200-day moving average price is $95.61. The stock has a market capitalization of $5.80 billion, a PE ratio of 39.52, a P/E/G ratio of 0.73 and a beta of 1.77.

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). PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The firm had revenue of $406.13 million for the quarter, compared to analysts’ expectations of $469.64 million. During the same period in the prior year, the company earned $1.11 EPS. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. On average, equities research analysts anticipate that PennyMac Financial Services, Inc. will post 10.61 EPS for the current year.

PennyMac Financial Services Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend was Tuesday, August 13th. This is a boost from PennyMac Financial Services’s previous quarterly dividend of $0.20. PennyMac Financial Services’s dividend payout ratio is currently 41.67%.

Insider Buying and Selling

In related news, CEO David Spector sold 10,000 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $92.06, for a total transaction of $920,600.00. Following the sale, the chief executive officer now owns 220,604 shares of the company’s stock, valued at approximately $20,308,804.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Daniel Stanley Perotti sold 10,500 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $112.93, for a total transaction of $1,185,765.00. Following the sale, the chief financial officer now owns 235,997 shares of the company’s stock, valued at approximately $26,651,141.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Spector sold 10,000 shares of the stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $92.06, for a total value of $920,600.00. Following the sale, the chief executive officer now directly owns 220,604 shares in the company, valued at approximately $20,308,804.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,855 shares of company stock valued at $9,492,499. Corporate insiders own 16.60% of the company’s stock.

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.