PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Acquired by Picton Mahoney Asset Management

Picton Mahoney Asset Management increased its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 25.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,293 shares of the real estate investment trust's stock after buying an additional 11,964 shares during the quarter. Picton Mahoney Asset Management owned about 0.12% of PennyMac Financial Services worth $5,609,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. New York State Common Retirement Fund lifted its position in PennyMac Financial Services by 6.9% in the fourth quarter. New York State Common Retirement Fund now owns 15,823 shares of the real estate investment trust's stock valued at $1,398,000 after buying an additional 1,015 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in shares of PennyMac Financial Services by 128.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust's stock worth $32,000 after purchasing an additional 205 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in PennyMac Financial Services by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 396,745 shares of the real estate investment trust's stock valued at $35,060,000 after purchasing an additional 3,947 shares during the last quarter. QRG Capital Management Inc. increased its holdings in PennyMac Financial Services by 9.8% in the 4th quarter. QRG Capital Management Inc. now owns 33,660 shares of the real estate investment trust's stock valued at $2,975,000 after purchasing an additional 3,018 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in PennyMac Financial Services by 2.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,691,512 shares of the real estate investment trust's stock valued at $237,851,000 after purchasing an additional 70,178 shares during the period. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PFSI shares. StockNews.com cut PennyMac Financial Services from a "hold" rating to a "sell" rating in a research note on Wednesday, July 3rd. Wedbush lifted their target price on PennyMac Financial Services from $110.00 to $120.00 and gave the company an "outperform" rating in a research report on Wednesday, July 24th. Keefe, Bruyette & Woods lowered shares of PennyMac Financial Services from an "outperform" rating to a "market perform" rating and set a $102.00 price target on the stock. in a research note on Monday, July 22nd. Finally, Piper Sandler raised their price objective on shares of PennyMac Financial Services from $110.00 to $112.00 and gave the company an "overweight" rating in a research note on Wednesday, July 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $107.17.

Insiders Place Their Bets

In related news, Director Anne Mccallion sold 23,829 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $103.14, for a total value of $2,457,723.06. Following the completion of the transaction, the director now directly owns 1,854 shares of the company's stock, valued at $191,221.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $99.31, for a total transaction of $993,100.00. Following the sale, the chief executive officer now owns 210,604 shares in the company, valued at $20,915,083.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anne Mccallion sold 23,829 shares of the business's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $103.14, for a total value of $2,457,723.06. Following the completion of the sale, the director now directly owns 1,854 shares of the company's stock, valued at $191,221.56. The disclosure for this sale can be found here. Insiders sold 65,225 shares of company stock valued at $6,392,919 in the last ninety days. Insiders own 16.60% of the company's stock.

PennyMac Financial Services Stock Up 2.6 %

Shares of PennyMac Financial Services stock traded up $2.75 on Friday, reaching $108.00. 376,505 shares of the company were exchanged, compared to its average volume of 247,058. The stock's 50 day moving average price is $97.71 and its 200-day moving average price is $92.25. The company has a market cap of $5.50 billion, a P/E ratio of 37.50, a price-to-earnings-growth ratio of 0.63 and a beta of 1.72. PennyMac Financial Services, Inc. has a 1-year low of $62.15 and a 1-year high of $108.36. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.37 and a quick ratio of 0.37.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing analysts' consensus estimates of $2.65 by ($0.80). The firm had revenue of $406.13 million during the quarter, compared to analysts' expectations of $469.64 million. PennyMac Financial Services had a net margin of 13.13% and a return on equity of 12.69%. The company's revenue for the quarter was up 20.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.11 earnings per share. As a group, equities analysts forecast that PennyMac Financial Services, Inc. will post 10.54 EPS for the current year.

PennyMac Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were paid a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, August 13th. This is a boost from PennyMac Financial Services's previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a yield of 1.11%. PennyMac Financial Services's dividend payout ratio (DPR) is currently 41.67%.

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.