Alight Capital Management LP Takes Position in PennyMac Financial Services, Inc. $PFSI

Alight Capital Management LP acquired a new position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,000 shares of the real estate investment trust’s stock, valued at approximately $1,239,000.

Other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. raised its stake in PennyMac Financial Services by 26.3% in the third quarter. Harbor Capital Advisors Inc. now owns 504 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 105 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in PennyMac Financial Services by 0.7% in the 2nd 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 buying an additional 111 shares in the last quarter. Sei Investments Co. increased its holdings in shares of PennyMac Financial Services by 0.7% in the 3rd quarter. Sei Investments Co. now owns 22,145 shares of the real estate investment trust’s stock worth $2,743,000 after buying an additional 146 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of PennyMac Financial Services by 1.8% in the 3rd quarter. Arizona State Retirement System now owns 9,172 shares of the real estate investment trust’s stock worth $1,136,000 after buying an additional 166 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of PennyMac Financial Services by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 35,478 shares of the real estate investment trust’s stock valued at $3,535,000 after buying an additional 173 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors.

PennyMac Financial Services Stock Performance

NYSE:PFSI opened at $84.15 on Friday. The firm has a market cap of $4.39 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 0.48 and a beta of 1.56. PennyMac Financial Services, Inc. has a fifty-two week low of $83.66 and a fifty-two week high of $160.36. The company has a debt-to-equity ratio of 3.32, a quick ratio of 0.34 and a current ratio of 0.34. The business has a 50 day moving average price of $112.89 and a 200-day moving average price of $121.16.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Thursday, January 29th. The real estate investment trust reported $1.97 EPS for the quarter, missing the consensus estimate of $3.23 by ($1.26). PennyMac Financial Services had a return on equity of 10.20% and a net margin of 24.48%.The firm had revenue of $538.01 million during the quarter, compared to analysts’ expectations of $639.81 million. During the same period in the previous year, the firm earned $1.95 earnings per share. The firm’s quarterly revenue was up 14.4% compared to the same quarter last year. Equities research analysts predict that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Monday, February 16th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend was Friday, February 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is 12.90%.

Insider Transactions at PennyMac Financial Services

In other news, CFO Daniel Stanley Perotti sold 2,925 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $93.30, for a total transaction of $272,902.50. Following the completion of the transaction, the chief financial officer directly owned 213,550 shares of the company’s stock, valued at approximately $19,924,215. This represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Derek Stark sold 1,903 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $91.50, for a total transaction of $174,124.50. Following the sale, the insider owned 22,477 shares of the company’s stock, valued at approximately $2,056,645.50. This represents a 7.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 59,810 shares of company stock valued at $6,268,192. Company insiders own 15.80% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on PFSI shares. Jefferies Financial Group began coverage on shares of PennyMac Financial Services in a report on Friday, December 19th. They set a “buy” rating and a $160.00 price objective for the company. Zacks Research downgraded PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Piper Sandler lowered their price target on PennyMac Financial Services from $168.00 to $137.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. BTIG Research reaffirmed a “buy” rating on shares of PennyMac Financial Services in a research note on Friday, January 30th. Finally, Wall Street Zen cut PennyMac Financial Services from a “buy” rating to a “hold” rating in a report on Sunday, January 18th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $139.71.

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.