Advantage Alpha Capital Partners LP Trims Stock Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Advantage Alpha Capital Partners LP decreased its position in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 21.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 52,417 shares of the real estate investment trust's stock after selling 14,612 shares during the period. PennyMac Financial Services comprises approximately 1.4% of Advantage Alpha Capital Partners LP's portfolio, making the stock its 24th biggest holding. Advantage Alpha Capital Partners LP owned about 0.10% of PennyMac Financial Services worth $5,974,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in PennyMac Financial Services by 231.9% in the third quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust's stock worth $133,003,000 after acquiring an additional 815,389 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in PennyMac Financial Services by 7.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust's stock worth $50,985,000 after purchasing an additional 31,035 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in shares of PennyMac Financial Services in the 3rd quarter worth about $24,644,000. Intech Investment Management LLC bought a new stake in shares of PennyMac Financial Services during the 3rd quarter valued at about $956,000. Finally, KBC Group NV increased its position in shares of PennyMac Financial Services by 20.3% during the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust's stock valued at $153,000 after buying an additional 226 shares during the period. 57.87% of the stock is currently owned by institutional investors.

Insider Activity

In other PennyMac Financial Services news, CAO Gregory L. Hendry sold 3,032 shares of the business's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total transaction of $309,536.88. Following the completion of the sale, the chief accounting officer now directly owns 48,040 shares in the company, valued at $4,904,403.60. The trade was a 5.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Steven Richard Bailey sold 14,130 shares of the business's stock in a transaction that occurred 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 sale, the insider now owns 14,670 shares of the company's stock, valued at $1,714,629.60. This trade represents a 49.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 68,162 shares of company stock valued at $7,491,026 over the last three months. Insiders own 16.60% of the company's stock.

PennyMac Financial Services Stock Down 1.3 %

Shares of NYSE:PFSI traded down $1.43 on Tuesday, hitting $106.36. 210,519 shares of the company traded hands, compared to its average volume of 259,158. The company has a market cap of $5.45 billion, a PE ratio of 33.69 and a beta of 1.79. PennyMac Financial Services, Inc. has a 52 week low of $76.57 and a 52 week high of $119.13. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The stock has a 50 day simple moving average of $106.59 and a 200-day simple moving average of $100.39.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The business had revenue of $411.83 million for the quarter, compared to the consensus estimate of $513.12 million. During the same period in the previous year, the company earned $1.77 earnings per share. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, research analysts expect that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be paid a $0.30 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.13%. PennyMac Financial Services's dividend payout ratio is presently 38.10%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Barclays raised their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Piper Sandler upped their price target on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 23rd. Wells Fargo & Company raised their price objective on PennyMac Financial Services from $110.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, October 24th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $130.00 target price on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, PennyMac Financial Services currently has a consensus rating of "Moderate Buy" and a consensus price target of $115.86.

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.