PennyMac Financial Services, Inc. $PFSI Stake Lifted by 140 Summer Partners LP

140 Summer Partners LP increased its position in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 50.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 669,892 shares of the real estate investment trust's stock after purchasing an additional 223,752 shares during the quarter. PennyMac Financial Services makes up about 6.5% of 140 Summer Partners LP's investment portfolio, making the stock its 3rd largest holding. 140 Summer Partners LP owned about 1.29% of PennyMac Financial Services worth $88,319,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Magnetar Financial LLC purchased a new stake in shares of PennyMac Financial Services in the 4th quarter worth about $491,000. Persistent Asset Partners Ltd bought a new stake in PennyMac Financial Services during the fourth quarter worth about $308,000. Board of Trustees of The Leland Stanford Junior University bought a new stake in PennyMac Financial Services during the fourth quarter worth about $530,000. Senator Investment Group LP grew its holdings in PennyMac Financial Services by 12.4% in the fourth quarter. Senator Investment Group LP now owns 287,093 shares of the real estate investment trust's stock worth $37,850,000 after purchasing an additional 31,737 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of PennyMac Financial Services by 4.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 4,619 shares of the real estate investment trust's stock valued at $609,000 after purchasing an additional 196 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PFSI shares. Wall Street Zen upgraded shares of PennyMac Financial Services from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Zacks Research cut PennyMac Financial Services from a "hold" rating to a "strong sell" rating in a research note on Friday, May 8th. Wells Fargo & Company cut their target price on PennyMac Financial Services from $110.00 to $100.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 6th. Keefe, Bruyette & Woods reduced their price target on PennyMac Financial Services from $115.00 to $108.00 and set an "outperform" rating for the company in a report on Friday, May 8th. Finally, Barclays lowered their price target on PennyMac Financial Services from $116.00 to $107.00 and set an "overweight" rating for the company in a research report on Monday, May 11th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $117.13.

PennyMac Financial Services Stock Up 1.3%

PFSI opened at $83.45 on Wednesday. The stock has a market capitalization of $4.33 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 0.54 and a beta of 1.44. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 3.63. The firm has a 50 day moving average price of $87.35 and a 200-day moving average price of $104.84. PennyMac Financial Services, Inc. has a twelve month low of $77.67 and a twelve month high of $160.36.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 earnings per share for the quarter, missing the consensus estimate of $2.22 by ($0.03). PennyMac Financial Services had a net margin of 23.47% and a return on equity of 10.93%. The firm had revenue of $544.98 million for the quarter, compared to the consensus estimate of $546.17 million. During the same period in the previous year, the company earned $1.42 earnings per share. PennyMac Financial Services's quarterly revenue was up 26.5% compared to the same quarter last year. Equities research analysts forecast that PennyMac Financial Services, Inc. will post 10.68 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 28th. Investors of record on Monday, May 18th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, May 18th. PennyMac Financial Services's payout ratio is 12.75%.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $87.99, for a total transaction of $879,900.00. Following the completion of the sale, the chief executive officer directly owned 60,604 shares of the company's stock, valued at approximately $5,332,545.96. This represents a 14.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Stanley Perotti sold 2,925 shares of the firm's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $87.50, for a total value of $255,937.50. Following the completion of the transaction, the chief financial officer directly owned 210,625 shares in the company, valued at approximately $18,429,687.50. This represents a 1.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 22,925 shares of company stock valued at $2,064,138 over the last 90 days. 15.80% of the stock is currently owned by company insiders.

PennyMac Financial Services 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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