VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $867,000 Investment in PennyMac Financial Services, Inc. $PFSI

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 8,700 shares of the real estate investment trust’s stock, valued at approximately $867,000.

Other institutional investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its position in shares of PennyMac Financial Services by 0.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,289,819 shares of the real estate investment trust’s stock worth $429,454,000 after purchasing an additional 24,055 shares during the last quarter. Lightrock Netherlands B.V. increased its position in shares of PennyMac Financial Services by 55.1% during the 1st quarter. Lightrock Netherlands B.V. now owns 136,055 shares of the real estate investment trust’s stock worth $13,643,000 after purchasing an additional 48,312 shares during the last quarter. Advantage Alpha Capital Partners LP increased its position in shares of PennyMac Financial Services by 26.3% during the 1st quarter. Advantage Alpha Capital Partners LP now owns 55,376 shares of the real estate investment trust’s stock worth $5,544,000 after purchasing an additional 11,528 shares during the last quarter. Maverick Capital Ltd. boosted its stake in shares of PennyMac Financial Services by 150.4% during the 1st quarter. Maverick Capital Ltd. now owns 8,073 shares of the real estate investment trust’s stock worth $808,000 after acquiring an additional 4,849 shares during the period. Finally, Conversant Capital LLC boosted its stake in shares of PennyMac Financial Services by 25.1% during the 1st quarter. Conversant Capital LLC now owns 244,150 shares of the real estate investment trust’s stock worth $24,442,000 after acquiring an additional 49,000 shares during the period. Institutional investors and hedge funds own 57.87% of the company’s stock.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 7,107 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $108.16, for a total value of $768,693.12. Following the completion of the transaction, the director owned 86,050 shares of the company’s stock, valued at $9,307,168. This represents a 7.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Derek Stark sold 4,750 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $109.56, for a total value of $520,410.00. Following the completion of the transaction, the insider directly owned 20,621 shares of the company’s stock, valued at approximately $2,259,236.76. The trade was a 18.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,632 shares of company stock worth $3,998,816 in the last 90 days. 15.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PFSI shares. UBS Group lifted their target price on PennyMac Financial Services from $110.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Wells Fargo & Company lifted their target price on PennyMac Financial Services from $115.00 to $135.00 and gave the stock an “overweight” rating in a research note on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of PennyMac Financial Services in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods cut PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $129.00 price objective on the stock. in a research report on Tuesday, October 7th. Finally, Zacks Research upgraded PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. Four analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $135.50.

PennyMac Financial Services Price Performance

PennyMac Financial Services stock opened at $128.67 on Friday. The company has a debt-to-equity ratio of 3.03, a quick ratio of 0.34 and a current ratio of 0.34. PennyMac Financial Services, Inc. has a 52 week low of $85.74 and a 52 week high of $134.56. The stock has a market capitalization of $6.65 billion, a P/E ratio of 13.87 and a beta of 1.59. The stock has a fifty day moving average of $118.00 and a 200-day moving average of $104.58.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 EPS for the quarter, topping analysts’ consensus estimates of $2.98 by $0.39. PennyMac Financial Services had a return on equity of 11.90% and a net margin of 25.21%.The company had revenue of $632.90 million during the quarter, compared to analysts’ expectations of $573.46 million. During the same quarter in the previous year, the firm earned $1.30 EPS. PennyMac Financial Services’s revenue was up 53.7% on a year-over-year basis. On average, sell-side analysts expect that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Monday, November 17th. PennyMac Financial Services’s dividend payout ratio is presently 16.64%.

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.