BlueCrest Capital Management Ltd Purchases 45,008 Shares of PennyMac Financial Services, Inc. $PFSI

Key Points

• BlueCrest Capital Management increased its PennyMac Financial Services stake by 12.8%, purchasing 45,008 shares to own 396,103 shares worth approximately $34.5 million, or 0.76% of PFSI.
• PFSI shares opened at $70.83, near their one-year low of $70.67, after the company reported quarterly EPS of $1.39—below the $2.11 analyst consensus—despite 11.8% year-over-year revenue growth.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $104.88; the company also maintains a quarterly dividend of $0.30, yielding approximately 1.7% annually.

BlueCrest Capital Management Ltd increased its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 12.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 396,103 shares of the real estate investment trust's stock after buying an additional 45,008 shares during the period. PennyMac Financial Services accounts for approximately 1.1% of BlueCrest Capital Management Ltd's investment portfolio, making the stock its 12th biggest position. BlueCrest Capital Management Ltd owned approximately 0.76% of PennyMac Financial Services worth $34,501,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PFSI. Caitong International Asset Management Co. Ltd raised its holdings in shares of PennyMac Financial Services by 7,600.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 228 shares during the period. Los Angeles Capital Management LLC bought a new position in PennyMac Financial Services during the fourth quarter worth about $31,000. EverSource Wealth Advisors LLC bought a new position in PennyMac Financial Services during the second quarter worth about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in PennyMac Financial Services during the second quarter worth approximately $25,000. Finally, Strs Ohio bought a new stake in PennyMac Financial Services in the first quarter valued at approximately $30,000. Institutional investors and hedge funds own 57.87% of the company's stock.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI opened at $70.83 on Thursday. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.38 and a quick ratio of 0.38. The stock's fifty day moving average price is $78.48 and its two-hundred day moving average price is $84.10. PennyMac Financial Services, Inc. has a one year low of $70.67 and a one year high of $160.36. The firm has a market cap of $3.68 billion, a price-to-earnings ratio of 9.73, a P/E/G ratio of 0.68 and a beta of 1.44.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its earnings results on Wednesday, July 29th. The real estate investment trust reported $1.39 earnings per share for the quarter, missing analysts' consensus estimates of $2.11 by ($0.72). PennyMac Financial Services had a return on equity of 11.18% and a net margin of 17.74%.The firm's revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the company posted $2.54 EPS. On average, equities analysts forecast that PennyMac Financial Services, Inc. will post 7.36 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Shareholders of record on Monday, August 17th were paid a $0.30 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.20 annualized dividend and a yield of 1.7%. PennyMac Financial Services's payout ratio is 16.48%.

Insiders Place Their Bets

In other PennyMac Financial Services news, CAO Gregory Hendry sold 2,177 shares of the business's stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $86.89, for a total value of $189,159.53. Following the completion of the sale, the chief accounting officer owned 48,968 shares of the company's stock, valued at $4,254,829.52. The trade was a 4.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

PFSI has been the topic of a number of recent analyst reports. Barclays decreased their target price on PennyMac Financial Services from $93.00 to $85.00 and set an "equal weight" rating on the stock in a report on Thursday, July 30th. Weiss Ratings reissued a "sell (d+)" rating on shares of PennyMac Financial Services in a research report on Monday, August 3rd. BTIG Research reduced their target price on shares of PennyMac Financial Services from $105.00 to $90.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Stephens decreased their price target on shares of PennyMac Financial Services from $91.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 30th. Finally, Wall Street Zen lowered shares of PennyMac Financial Services from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, PennyMac Financial Services has an average rating of "Hold" and a consensus price target of $104.88.

PennyMac Financial Services Company Profile

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.

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