PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Purchased by HighVista Strategies LLC

HighVista Strategies LLC boosted its position in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 46.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,337 shares of the real estate investment trust's stock after purchasing an additional 6,100 shares during the quarter. HighVista Strategies LLC's holdings in PennyMac Financial Services were worth $2,204,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Verition Fund Management LLC bought a new position in shares of PennyMac Financial Services during the third quarter valued at approximately $203,000. Northwest & Ethical Investments L.P. increased its position in PennyMac Financial Services by 38.3% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 2,330 shares of the real estate investment trust's stock valued at $266,000 after buying an additional 645 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in PennyMac Financial Services by 0.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 96,324 shares of the real estate investment trust's stock valued at $10,978,000 after buying an additional 669 shares during the last quarter. FORA Capital LLC bought a new stake in PennyMac Financial Services in the third quarter worth $616,000. Finally, Cynosure Group LLC grew its stake in shares of PennyMac Financial Services by 57.7% in the third quarter. Cynosure Group LLC now owns 6,454 shares of the real estate investment trust's stock worth $736,000 after acquiring an additional 2,361 shares during the last quarter. Institutional investors own 57.87% of the company's stock.

Insider Buying and Selling

In other news, CFO Daniel Stanley Perotti sold 10,500 shares of the firm's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $112.93, for a total transaction of $1,185,765.00. Following the transaction, the chief financial officer now directly owns 235,997 shares of the company's stock, valued at approximately $26,651,141.21. This trade represents a 4.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 value of $1,651,514.40. Following the completion of the sale, the insider now owns 14,670 shares of the company's stock, valued at $1,714,629.60. The trade was a 49.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,162 shares of company stock valued at $7,491,026 in the last ninety days. 16.60% of the stock is owned by company insiders.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI traded down $0.55 during midday trading on Tuesday, hitting $106.15. 144,162 shares of the company's stock traded hands, compared to its average volume of 257,491. The firm has a fifty day moving average of $105.85 and a 200 day moving average of $100.89. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 33.70 and a beta of 1.78. PennyMac Financial Services, Inc. has a 1 year low of $78.71 and a 1 year high of $119.13.

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

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services's dividend payout ratio (DPR) is currently 38.10%.

Wall Street Analyst Weigh In

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

About PennyMac Financial Services

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.