SG Americas Securities LLC Acquires New Position in PennyMac Financial Services, Inc. $PFSI

SG Americas Securities LLC bought a new position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,614 shares of the real estate investment trust’s stock, valued at approximately $448,000.

Several other institutional investors and hedge funds also recently bought and sold shares of PFSI. Harbor Capital Advisors Inc. raised its position in shares of PennyMac Financial Services by 26.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 504 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 105 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in PennyMac Financial Services by 0.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,034 shares of the real estate investment trust’s stock worth $1,598,000 after acquiring an additional 111 shares during the last quarter. Legal & General Group Plc raised its position in PennyMac Financial Services by 0.5% in the second quarter. Legal & General Group Plc now owns 35,478 shares of the real estate investment trust’s stock valued at $3,535,000 after purchasing an additional 173 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of PennyMac Financial Services by 6.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,987 shares of the real estate investment trust’s stock valued at $298,000 after purchasing an additional 190 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of PennyMac Financial Services by 4.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 4,687 shares of the real estate investment trust’s stock worth $467,000 after purchasing an additional 191 shares during the period. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other PennyMac Financial Services news, Director Doug Jones sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $132.63, for a total transaction of $2,652,600.00. Following the completion of the transaction, the director owned 430,000 shares in the company, valued at $57,030,900. The trade was a 4.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Daniel Stanley Perotti sold 8,775 shares of PennyMac Financial Services stock in a transaction on Monday, November 17th. The stock was sold at an average price of $126.67, for a total transaction of $1,111,529.25. Following the sale, the chief financial officer directly owned 216,475 shares of the company’s stock, valued at approximately $27,420,888.25. This trade represents a 3.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 80,076 shares of company stock worth $10,512,190 in the last ninety days. 15.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PFSI shares. Wells Fargo & Company lifted their price target on shares of PennyMac Financial Services from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, January 5th. UBS Group lifted their target price on shares of PennyMac Financial Services from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Piper Sandler boosted their target price on PennyMac Financial Services from $146.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. BTIG Research raised their price target on PennyMac Financial Services from $135.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, December 29th. Finally, Jefferies Financial Group initiated coverage on PennyMac Financial Services in a research note on Friday, December 19th. They issued a “buy” rating and a $160.00 price objective for the company. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $153.43.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI opened at $150.75 on Friday. The company has a debt-to-equity ratio of 3.01, a current ratio of 0.36 and a quick ratio of 0.36. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 0.69 and a beta of 1.57. The stock’s 50-day moving average is $135.96 and its two-hundred day moving average is $121.80. PennyMac Financial Services, Inc. has a 1-year low of $85.74 and a 1-year high of $160.36.

About PennyMac Financial Services

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.