Intech Investment Management LLC Makes New $956,000 Investment in PennyMac Financial Services, Inc. (NYSE:PFSI)

Intech Investment Management LLC acquired a new position in PennyMac Financial Services, Inc. (NYSE:PFSI) during the third quarter, HoldingsChannel reports. The institutional investor acquired 8,390 shares of the real estate investment trust’s stock, valued at approximately $956,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KBC Group NV lifted its stake in shares of PennyMac Financial Services by 20.3% in the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 226 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of PennyMac Financial Services in the third quarter worth approximately $280,000. GSA Capital Partners LLP bought a new position in shares of PennyMac Financial Services in the third quarter worth approximately $347,000. Summit Global Investments bought a new position in shares of PennyMac Financial Services in the third quarter worth approximately $605,000. Finally, Harbor Capital Advisors Inc. bought a new position in shares of PennyMac Financial Services in the third quarter worth approximately $37,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Trading Up 0.5 %

Shares of PennyMac Financial Services stock opened at $106.87 on Friday. The company’s fifty day simple moving average is $106.19 and its 200-day simple moving average is $100.53. The stock has a market capitalization of $5.48 billion, a PE ratio of 33.93 and a beta of 1.79. PennyMac Financial Services, Inc. has a 1-year low of $77.02 and a 1-year high of $119.13. 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 (NYSE:PFSI) last issued its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.92 by ($1.62). The business 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 company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.77 EPS. As a group, equities analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were given a dividend of $0.30 per share. The ex-dividend date was Monday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.12%. PennyMac Financial Services’s payout ratio is 38.10%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Barclays increased their price objective 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 8th. Wells Fargo & Company raised their target price on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Wedbush restated an “outperform” rating and issued a $130.00 target price on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Finally, Piper Sandler raised their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, PennyMac Financial Services has a consensus rating of “Moderate Buy” and a consensus price target of $115.86.

Insider Activity

In other news, CAO Gregory L. Hendry sold 3,032 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total transaction of $309,536.88. Following the sale, the chief accounting officer now directly owns 48,040 shares in the company, valued at $4,904,403.60. This trade represents a 5.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $116.79, for a total transaction of $1,167,900.00. Following the completion of the sale, the chief executive officer now owns 200,604 shares in the company, valued at approximately $23,428,541.16. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 68,162 shares of company stock worth $7,491,026 in the last three months. Company insiders own 16.60% of the company’s stock.

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.