MQS Management LLC Purchases New Holdings in PennyMac Financial Services, Inc. $PFSI

MQS Management LLC purchased a new stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) during the 2nd quarter, Holdings Channel reports. The institutional investor purchased 2,089 shares of the real estate investment trust’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AlphaQuest LLC increased its stake in PennyMac Financial Services by 4.4% during the first quarter. AlphaQuest LLC now owns 2,587 shares of the real estate investment trust’s stock valued at $259,000 after acquiring an additional 110 shares during the period. CWM LLC increased its stake in PennyMac Financial Services by 71.5% during the first quarter. CWM LLC now owns 271 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 113 shares during the period. Hohimer Wealth Management LLC increased its stake in PennyMac Financial Services by 5.4% during the first quarter. Hohimer Wealth Management LLC now owns 2,351 shares of the real estate investment trust’s stock valued at $235,000 after acquiring an additional 121 shares during the period. State of New Jersey Common Pension Fund D increased its stake in PennyMac Financial Services by 1.4% during the second quarter. State of New Jersey Common Pension Fund D now owns 19,753 shares of the real estate investment trust’s stock valued at $1,968,000 after acquiring an additional 281 shares during the period. Finally, Strs Ohio bought a new position in PennyMac Financial Services during the first quarter valued at about $30,000. 57.87% of the stock is currently owned by institutional investors.

Insider Activity

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 26,011 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $131.36, for a total transaction of $3,416,804.96. Following the transaction, the chief financial officer owned 9,964 shares of the company’s stock, valued at approximately $1,308,871.04. This represents a 72.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph F. Mazzella sold 7,107 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $108.16, for a total value of $768,693.12. Following the transaction, the director directly owned 86,050 shares in the company, valued at approximately $9,307,168. This represents a 7.63% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 173,685 shares of company stock worth $21,896,093. 15.80% of the stock is owned by company insiders.

PennyMac Financial Services Stock Down 2.1%

Shares of PFSI opened at $130.18 on Wednesday. The company has a market capitalization of $6.73 billion, a P/E ratio of 14.03 and a beta of 1.59. The company has a debt-to-equity ratio of 3.03, a current ratio of 0.34 and a quick ratio of 0.34. PennyMac Financial Services, Inc. has a one year low of $85.74 and a one year high of $134.56. The business’s 50 day simple moving average is $119.53 and its 200-day simple moving average is $105.57.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 EPS for the quarter, topping the consensus estimate of $2.98 by $0.39. The business had revenue of $632.90 million for the quarter, compared to the consensus estimate of $573.46 million. PennyMac Financial Services had a return on equity of 11.90% and a net margin of 25.21%.PennyMac Financial Services’s revenue was up 53.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.30 EPS. As a group, sell-side analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.20 annualized dividend and a yield of 0.9%. PennyMac Financial Services’s dividend payout ratio is currently 12.93%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. BTIG Research reiterated a “buy” rating and issued a $135.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 22nd. Zacks Research upgraded PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. UBS Group upped their price objective on PennyMac Financial Services from $135.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Wall Street Zen upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Piper Sandler upped their price objective on PennyMac Financial Services from $136.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.67.

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.