PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV raised its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 6.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,209 shares of the real estate investment trust’s stock after buying an additional 1,988 shares during the period. Mercer Global Advisors Inc. ADV owned approximately 0.07% of PennyMac Financial Services worth $3,142,000 as of its most recent SEC filing.

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

PennyMac Financial Services Trading Down 1.6 %

PennyMac Financial Services stock opened at $111.80 on Monday. PennyMac Financial Services, Inc. has a 52 week low of $62.15 and a 52 week high of $119.13. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 38.82, a P/E/G ratio of 0.75 and a beta of 1.77. The company has a 50 day moving average price of $102.81 and a 200 day moving average price of $94.83.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.80). The business had revenue of $406.13 million during the quarter, compared to analyst estimates of $469.64 million. PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the business earned $1.11 EPS. Research analysts forecast that PennyMac Financial Services, Inc. will post 10.61 EPS for the current year.

PennyMac Financial Services Increases Dividend

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

Insider Buying and Selling

In other news, insider Steven Richard Bailey sold 14,130 shares of the business’s 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 transaction, the insider now directly owns 14,670 shares in the company, valued at approximately $1,714,629.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Steven Richard Bailey sold 14,130 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the completion of the sale, the insider now directly owns 14,670 shares of the company’s stock, valued at approximately $1,714,629.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Spector sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The shares were 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 of the company’s stock, valued at approximately $20,308,804.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,355 shares of company stock worth $8,306,734. 16.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.