PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC decreased its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 47.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,943 shares of the real estate investment trust’s stock after selling 11,919 shares during the quarter. AQR Capital Management LLC’s holdings in PennyMac Financial Services were worth $1,224,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in PennyMac Financial Services by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust’s stock worth $238,509,000 after buying an additional 8,345 shares during the period. American Century Companies Inc. increased its holdings in PennyMac Financial Services by 13.2% in the 2nd quarter. American Century Companies Inc. now owns 347,979 shares of the real estate investment trust’s stock valued at $32,919,000 after purchasing an additional 40,676 shares during the last quarter. Bank of New York Mellon Corp raised its position in PennyMac Financial Services by 2.8% in the second quarter. Bank of New York Mellon Corp now owns 182,245 shares of the real estate investment trust’s stock valued at $17,240,000 after purchasing an additional 4,930 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in PennyMac Financial Services by 0.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 139,882 shares of the real estate investment trust’s stock worth $12,742,000 after purchasing an additional 1,190 shares in the last quarter. Finally, Edgestream Partners L.P. grew its stake in shares of PennyMac Financial Services by 256.9% in the second quarter. Edgestream Partners L.P. now owns 84,861 shares of the real estate investment trust’s stock valued at $8,028,000 after buying an additional 61,087 shares in the last quarter. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Wall Street Analysts Forecast Growth

PFSI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price for the company. in a report on Monday, July 22nd. StockNews.com downgraded shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Barclays boosted their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday. Wedbush increased their price objective on PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Piper Sandler boosted their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $111.50.

PennyMac Financial Services Stock Performance

Shares of PFSI opened at $106.18 on Friday. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 36.87, a price-to-earnings-growth ratio of 0.66 and a beta of 1.77. PennyMac Financial Services, Inc. has a 52-week low of $62.15 and a 52-week high of $119.13. 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 stock has a 50 day moving average price of $105.93 and a 200 day moving average price of $97.07.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share for the quarter, missing the consensus estimate of $2.65 by ($0.80). The company had revenue of $406.13 million for the quarter, compared to analysts’ expectations of $469.64 million. PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The firm’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.11 EPS. Research analysts predict that PennyMac Financial Services, Inc. will post 11.06 EPS for the current fiscal year.

PennyMac Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were issued a dividend of $0.30 per share. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.13%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 41.67%.

Insider Transactions at PennyMac Financial Services

In related news, CFO Daniel Stanley Perotti sold 10,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $112.93, for a total transaction of $1,185,765.00. Following the transaction, the chief financial officer now owns 235,997 shares in the company, valued at $26,651,141.21. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Daniel Stanley Perotti sold 10,500 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $112.93, for a total transaction of $1,185,765.00. Following the completion of the sale, the chief financial officer now owns 235,997 shares in the company, valued at $26,651,141.21. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Richard Bailey sold 14,130 shares of PennyMac Financial Services stock in a transaction on Monday, September 16th. The shares were sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the completion of the transaction, the insider now owns 14,670 shares in the company, valued at approximately $1,714,629.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,855 shares of company stock worth $8,571,899. Corporate insiders own 16.60% of the company’s stock.

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.