PennyMac Financial Services, Inc. $PFSI is Lightrock Netherlands B.V.’s 7th Largest Position

Lightrock Netherlands B.V. raised its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 5.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 143,113 shares of the real estate investment trust’s stock after buying an additional 7,058 shares during the period. PennyMac Financial Services makes up about 3.3% of Lightrock Netherlands B.V.’s portfolio, making the stock its 7th biggest holding. Lightrock Netherlands B.V.’s holdings in PennyMac Financial Services were worth $14,260,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. AlphaQuest LLC boosted its position in shares of 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 worth $259,000 after buying an additional 110 shares during the period. CWM LLC boosted its position in shares of PennyMac Financial Services by 71.5% during the first quarter. CWM LLC now owns 271 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 113 shares during the period. Hohimer Wealth Management LLC boosted its position in shares of 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 worth $235,000 after buying an additional 121 shares during the period. Teacher Retirement System of Texas boosted its position in shares of PennyMac Financial Services by 4.2% during the second quarter. Teacher Retirement System of Texas now owns 4,687 shares of the real estate investment trust’s stock worth $467,000 after buying an additional 191 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of 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 worth $1,968,000 after buying an additional 281 shares during the period. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PennyMac Financial Services news, Director Anne Mccallion sold 27,771 shares of the firm’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $131.55, for a total value of $3,653,275.05. Following the sale, the director directly owned 1,547 shares in the company, valued at $203,507.85. This trade represents a 94.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Derek Stark sold 4,750 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $109.56, for a total value of $520,410.00. Following the completion of the sale, the insider owned 20,621 shares in the company, valued at approximately $2,259,236.76. This represents a 18.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 173,685 shares of company stock valued at $21,896,093 in the last three months. Corporate insiders own 15.80% of the company’s stock.

PennyMac Financial Services Trading Down 2.1%

NYSE:PFSI opened at $130.18 on Wednesday. The firm has a market cap of $6.73 billion, a PE ratio of 14.03 and a beta of 1.59. The stock has a fifty day moving average price of $119.53 and a 200 day moving average price of $105.57. PennyMac Financial Services, Inc. has a 12-month low of $85.74 and a 12-month high of $134.56. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 3.03.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.98 by $0.39. The firm had revenue of $632.90 million during the quarter, compared to analyst estimates 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 last year, the business posted $1.30 earnings per share. Sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th will be paid a $0.30 dividend. The ex-dividend date is Monday, November 17th. This represents a $1.20 dividend on an annualized basis and a yield of 0.9%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 12.93%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PFSI shares. Wall Street Zen upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Monday, September 29th. Keefe, Bruyette & Woods raised their price target on PennyMac Financial Services from $129.00 to $138.00 and gave the stock a “market perform” rating in a research report on Friday, October 24th. Weiss Ratings restated a “hold (c)” rating on shares of PennyMac Financial Services in a research report on Wednesday, October 8th. Barclays lifted their target price on PennyMac Financial Services from $136.00 to $139.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, Piper Sandler lifted their target price on PennyMac Financial Services from $136.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, PennyMac Financial Services has an average rating of “Moderate Buy” and a consensus target price of $138.67.

PennyMac Financial Services Company 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.