6,940 Shares in PennyMac Financial Services, Inc. (NYSE:PFSI) Acquired by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd has acquired a new stake in PennyMac Financial Services, purchasing 6,940 shares valued at approximately $695,000 during the first quarter.
• Several institutional investors, including Bank of New York Mellon Corp and Hohimer Wealth Management LLC, have increased their positions in PennyMac Financial Services, indicating strong interest from large investors.
• PennyMac Financial Services announced a quarterly dividend of $0.30 per share, representing a dividend yield of 1.28%, with the payout date set for August 22nd.

Y Intercept Hong Kong Ltd bought a new position in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,940 shares of the real estate investment trust's stock, valued at approximately $695,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hohimer Wealth Management LLC boosted its holdings in shares of PennyMac Financial Services by 5.4% in the 1st quarter. Hohimer Wealth Management LLC now owns 2,351 shares of the real estate investment trust's stock worth $235,000 after acquiring an additional 121 shares in the last quarter. CWM LLC raised its position in shares of PennyMac Financial Services by 71.5% during the first quarter. CWM LLC now owns 271 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 113 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of PennyMac Financial Services by 1.2% during the first quarter. New York State Common Retirement Fund now owns 71,944 shares of the real estate investment trust's stock valued at $7,202,000 after acquiring an additional 879 shares during the period. Xponance Inc. acquired a new position in shares of PennyMac Financial Services during the first quarter valued at $202,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of PennyMac Financial Services by 45.9% during the first quarter. Bank of New York Mellon Corp now owns 290,235 shares of the real estate investment trust's stock valued at $29,055,000 after acquiring an additional 91,338 shares during the period. 57.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. UBS Group lowered their target price on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a report on Thursday, July 24th. Keefe, Bruyette & Woods lowered their target price on shares of PennyMac Financial Services from $121.00 to $117.00 and set an "outperform" rating for the company in a report on Thursday, July 24th. Piper Sandler lowered their target price on shares of PennyMac Financial Services from $125.00 to $121.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. Barclays lowered their target price on shares of PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating for the company in a report on Tuesday, July 8th. Finally, Wells Fargo & Company lowered their target price on shares of PennyMac Financial Services from $120.00 to $115.00 and set an "overweight" rating for the company in a report on Wednesday, July 23rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, PennyMac Financial Services presently has an average rating of "Moderate Buy" and an average target price of $118.67.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 5,000 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $100.81, for a total value of $504,050.00. Following the completion of the sale, the chief executive officer owned 135,604 shares in the company, valued at $13,670,239.24. This trade represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph F. Mazzella sold 11,000 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $98.23, for a total transaction of $1,080,530.00. Following the completion of the sale, the director owned 92,863 shares of the company's stock, valued at approximately $9,121,932.49. This represents a 10.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,500 shares of company stock valued at $3,616,005. Insiders own 15.80% of the company's stock.

PennyMac Financial Services Stock Down 0.9%

NYSE:PFSI traded down $0.83 during trading hours on Wednesday, reaching $94.14. 565,624 shares of the stock were exchanged, compared to its average volume of 430,708. PennyMac Financial Services, Inc. has a twelve month low of $85.74 and a twelve month high of $119.13. The company has a debt-to-equity ratio of 2.96, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a 50 day moving average of $97.63 and a 200 day moving average of $99.57. The stock has a market cap of $4.86 billion, a PE ratio of 13.06 and a beta of 1.53.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its earnings results on Tuesday, July 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, missing analysts' consensus estimates of $3.01 by ($1.99). The business had revenue of $444.73 million during the quarter, compared to the consensus estimate of $547.44 million. PennyMac Financial Services had a net margin of 22.00% and a return on equity of 12.34%. The firm's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the business posted $1.85 EPS. On average, equities analysts expect that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Wednesday, August 13th will be given a dividend of $0.30 per share. The ex-dividend date is Wednesday, August 13th. This represents a $1.20 annualized dividend and a yield of 1.27%. PennyMac Financial Services's dividend payout ratio (DPR) is presently 16.64%.

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.