HighVista Strategies LLC Cuts Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

HighVista Strategies LLC lessened its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 19.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,237 shares of the real estate investment trust’s stock after selling 3,200 shares during the period. HighVista Strategies LLC’s holdings in PennyMac Financial Services were worth $1,252,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of PennyMac Financial Services by 1,529.6% during the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 413 shares in the last quarter. Hexagon Capital Partners LLC raised its position in PennyMac Financial Services by 29.6% in the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 109 shares during the period. TFO Wealth Partners LLC boosted its position in shares of PennyMac Financial Services by 16,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 1,141 shares during the period. SG Americas Securities LLC purchased a new stake in shares of PennyMac Financial Services in the first quarter worth about $202,000. Finally, Virtu Financial LLC acquired a new stake in shares of PennyMac Financial Services in the fourth quarter valued at about $253,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PFSI has been the subject of a number of analyst reports. Keefe, Bruyette & Woods cut PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price target for the company. in a report on Monday, July 22nd. StockNews.com cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Piper Sandler lifted their target price on PennyMac Financial Services from $110.00 to $112.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Finally, Wedbush boosted their price target on PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, PennyMac Financial Services presently has a consensus rating of “Hold” and an average target price of $107.17.

Insider Buying and Selling

In other news, Director Anne Mccallion sold 23,829 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $103.14, for a total transaction of $2,457,723.06. Following the completion of the transaction, the director now owns 1,854 shares in the company, valued at $191,221.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $92.06, for a total value of $920,600.00. Following the completion of the sale, the chief executive officer now directly owns 220,604 shares in the company, valued at $20,308,804.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anne Mccallion sold 23,829 shares of PennyMac Financial Services stock in a transaction on Monday, August 26th. The shares were sold at an average price of $103.14, for a total value of $2,457,723.06. Following the transaction, the director now owns 1,854 shares in the company, valued at $191,221.56. The disclosure for this sale can be found here. Insiders have sold a total of 79,355 shares of company stock worth $8,306,734 over the last quarter. 16.60% of the stock is owned by company insiders.

PennyMac Financial Services Stock Down 1.6 %

Shares of PennyMac Financial Services stock opened at $111.80 on Monday. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.75. The business has a 50-day moving average price of $102.81 and a 200 day moving average price of $94.83. PennyMac Financial Services, Inc. has a fifty-two week low of $62.15 and a fifty-two week high of $119.13. The firm has a market cap of $5.69 billion, a P/E ratio of 38.82, a P/E/G ratio of 0.75 and a beta of 1.77.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.65 by ($0.80). PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The firm had revenue of $406.13 million for the quarter, compared to the consensus estimate of $469.64 million. During the same quarter last year, the business earned $1.11 earnings per share. The business’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, sell-side analysts forecast that PennyMac Financial Services, Inc. will post 10.61 earnings per share for the current fiscal year.

PennyMac Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Tuesday, August 13th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date of this dividend was Tuesday, August 13th. This is an increase from PennyMac Financial Services’s previous quarterly dividend of $0.20. PennyMac Financial Services’s dividend payout ratio is currently 41.67%.

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.