Duality Advisers LP Trims Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Duality Advisers LP decreased its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 56.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,363 shares of the real estate investment trust’s stock after selling 13,387 shares during the quarter. Duality Advisers LP’s holdings in PennyMac Financial Services were worth $618,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Macquarie Group Ltd. bought a new position in PennyMac Financial Services during the first quarter valued at $1,709,000. Brandywine Global Investment Management LLC lifted its position in PennyMac Financial Services by 63.7% during the first quarter. Brandywine Global Investment Management LLC now owns 130,547 shares of the real estate investment trust’s stock valued at $7,782,000 after purchasing an additional 50,791 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of PennyMac Financial Services by 205.8% in the 1st quarter. JPMorgan Chase & Co. now owns 282,036 shares of the real estate investment trust’s stock worth $16,812,000 after acquiring an additional 548,677 shares during the last quarter. Thrivent Financial for Lutherans bought a new stake in shares of PennyMac Financial Services in the 1st quarter worth about $1,071,000. Finally, Mercer Global Advisors Inc. ADV increased its stake in PennyMac Financial Services by 286.0% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 19,709 shares of the real estate investment trust’s stock worth $1,175,000 after buying an additional 14,603 shares during the period. Institutional investors own 59.12% of the company’s stock.

PennyMac Financial Services Trading Down 1.2 %

NYSE PFSI opened at $68.70 on Monday. The firm’s 50-day moving average is $73.20 and its two-hundred day moving average is $66.23. PennyMac Financial Services, Inc. has a 12 month low of $41.76 and a 12 month high of $82.92. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market capitalization of $3.43 billion, a P/E ratio of 14.16 and a beta of 1.50.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Thursday, July 27th. The real estate investment trust reported $1.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.11. PennyMac Financial Services had a net margin of 17.95% and a return on equity of 7.80%. The business had revenue of $336.55 million for the quarter, compared to analysts’ expectations of $391.93 million. On average, sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 4.96 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Tuesday, August 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.16%. The ex-dividend date was Monday, August 14th. PennyMac Financial Services’s payout ratio is currently 16.49%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on PFSI shares. BTIG Research lifted their price objective on shares of PennyMac Financial Services from $65.00 to $85.00 in a research report on Tuesday, July 18th. TheStreet raised shares of PennyMac Financial Services from a “c+” rating to a “b-” rating in a report on Wednesday, August 16th. Piper Sandler lifted their target price on shares of PennyMac Financial Services from $82.00 to $89.00 in a report on Tuesday, June 13th. StockNews.com initiated coverage on shares of PennyMac Financial Services in a report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Wedbush lifted their target price on shares of PennyMac Financial Services from $80.00 to $95.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $83.00.

Insider Activity

In other news, CEO David Spector sold 15,000 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $76.28, for a total value of $1,144,200.00. Following the completion of the sale, the chief executive officer now directly owns 360,604 shares of the company’s stock, valued at $27,506,873.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO David Spector sold 15,000 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $76.28, for a total value of $1,144,200.00. Following the completion of the transaction, the chief executive officer now owns 360,604 shares of the company’s stock, valued at approximately $27,506,873.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel Stanley Perotti sold 7,600 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $72.37, for a total transaction of $550,012.00. Following the transaction, the chief financial officer now directly owns 280,697 shares of the company’s stock, valued at approximately $20,314,041.89. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,600 shares of company stock valued at $2,854,012. 17.40% of the stock is currently owned by company insiders.

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. It operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.