Y Intercept Hong Kong Ltd Has $3.62 Million Stake in PennyMac Financial Services, Inc. $PFSI

Y Intercept Hong Kong Ltd grew its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 423.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,348 shares of the real estate investment trust’s stock after purchasing an additional 29,408 shares during the period. Y Intercept Hong Kong Ltd owned about 0.07% of PennyMac Financial Services worth $3,622,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

PFSI has been the topic of a number of research analyst reports. Zacks Research upgraded shares of PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Wells Fargo & Company raised their price objective on shares of PennyMac Financial Services from $115.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Wall Street Zen upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Monday, September 29th. BTIG Research reiterated a “buy” rating and issued a $135.00 price objective on shares of PennyMac Financial Services in a report on Wednesday, October 22nd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of PennyMac Financial Services from $129.00 to $138.00 and gave the company a “market perform” rating in a report on Friday, October 24th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $138.67.

PennyMac Financial Services Stock Down 3.3%

PennyMac Financial Services stock opened at $125.85 on Thursday. 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 firm has a 50 day moving average price of $119.94 and a two-hundred day moving average price of $105.80. The firm has a market cap of $6.51 billion, a price-to-earnings ratio of 13.56 and a beta of 1.59.

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

PennyMac Financial Services Announces Dividend

The company also recently declared 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 is Monday, November 17th. This represents a $1.20 annualized dividend and a yield of 1.0%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 12.93%.

Insider Activity

In other PennyMac Financial Services news, Director Anne Mccallion sold 27,771 shares of the firm’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $131.55, for a total transaction of $3,653,275.05. Following the completion of the transaction, the director owned 1,547 shares in the company, valued at approximately $203,507.85. This trade represents a 94.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Spector sold 71,161 shares of the firm’s stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $128.07, for a total transaction of $9,113,589.27. Following the transaction, the chief executive officer owned 577,859 shares of the company’s stock, valued at approximately $74,006,402.13. The trade was a 10.96% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 173,685 shares of company stock worth $21,896,093. 15.80% of the stock is owned by insiders.

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.