Intech Investment Management LLC Invests $956,000 in PennyMac Financial Services, Inc. (NYSE:PFSI)

Intech Investment Management LLC purchased a new stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,390 shares of the real estate investment trust's stock, valued at approximately $956,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its stake in PennyMac Financial Services by 29.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 109 shares during the period. KBC Group NV grew its position in 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. Blue Trust Inc. increased its holdings in PennyMac Financial Services by 59.5% during the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust's stock worth $80,000 after buying an additional 262 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in PennyMac Financial Services in the third quarter worth about $37,000. Finally, Arizona State Retirement System raised its position in PennyMac Financial Services by 2.9% in the second quarter. Arizona State Retirement System now owns 11,999 shares of the real estate investment trust's stock worth $1,135,000 after acquiring an additional 336 shares during the period. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Gregory L. Hendry sold 3,032 shares of PennyMac Financial Services 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 owns 48,040 shares in the company, valued at approximately $4,904,403.60. This trade represents a 5.94 % decrease in their position. 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 company's stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the completion of the transaction, the insider now owns 14,670 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 68,162 shares of company stock valued at $7,491,026. Company insiders own 16.60% of the company's stock.

Analysts Set New Price Targets

PFSI has been the subject of several research analyst reports. Piper Sandler raised their price target on shares of 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 increased their price objective on PennyMac Financial Services from $110.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Wedbush restated an "outperform" rating and issued a $130.00 target price on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Finally, Barclays upped their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $115.86.

PennyMac Financial Services Stock Performance

Shares of PennyMac Financial Services stock traded up $0.26 during trading hours on Friday, reaching $107.13. The company had a trading volume of 107,146 shares, compared to its average volume of 258,350. The firm has a market cap of $5.49 billion, a PE ratio of 33.93 and a beta of 1.79. PennyMac Financial Services, Inc. has a one year low of $77.08 and a one year high of $119.13. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. The business has a fifty day simple moving average of $106.06 and a 200 day simple moving average of $100.57.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing the consensus estimate 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 company had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. During the same quarter in the prior year, the business earned $1.77 EPS. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. On average, analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current fiscal 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 paid a dividend of $0.30 per share. The ex-dividend date was Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 1.12%. PennyMac Financial Services's dividend payout ratio is currently 38.10%.

PennyMac Financial Services 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.