Y Intercept Hong Kong Ltd Purchases New Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

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 acquired a new stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,940 shares of the real estate investment trust's stock, valued at approximately $695,000.

A number of other institutional investors have also recently added to or reduced their stakes in PFSI. GAMMA Investing LLC lifted its stake in shares of PennyMac Financial Services by 12,101.0% in the 1st quarter. GAMMA Investing LLC now owns 11,713 shares of the real estate investment trust's stock valued at $1,173,000 after purchasing an additional 11,617 shares during the last quarter. Renaissance Technologies LLC bought a new position in PennyMac Financial Services during the fourth quarter valued at about $1,307,000. Teacher Retirement System of Texas acquired a new stake in shares of PennyMac Financial Services in the fourth quarter worth about $518,000. Vanguard Group Inc. raised its stake in shares of PennyMac Financial Services by 7.4% in the 4th quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust's stock valued at $294,835,000 after acquiring an additional 199,667 shares in the last quarter. Finally, Lightrock Netherlands B.V. lifted its holdings in PennyMac Financial Services by 55.1% in the 1st quarter. Lightrock Netherlands B.V. now owns 136,055 shares of the real estate investment trust's stock worth $13,643,000 after purchasing an additional 48,312 shares during the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Financial Services Stock Performance

Shares of NYSE:PFSI traded down $0.51 on Monday, hitting $93.56. 401,493 shares of the company were exchanged, compared to its average volume of 377,063. The company's 50 day moving average price is $97.93 and its two-hundred day moving average price is $99.66. The firm has a market capitalization of $4.83 billion, a price-to-earnings ratio of 12.98 and a beta of 1.53. The company has a debt-to-equity ratio of 2.96, a quick ratio of 0.30 and a current ratio of 0.30. PennyMac Financial Services, Inc. has a one year low of $85.74 and a one year high of $119.13.

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

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Wednesday, August 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.28%. PennyMac Financial Services's payout ratio is 16.64%.

Wall Street Analysts Forecast Growth

PFSI has been the topic of several analyst reports. Piper Sandler lowered their price target on PennyMac Financial Services from $125.00 to $121.00 and set an "overweight" rating on the stock in a report on Wednesday, July 23rd. Barclays dropped their target price on shares of PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating on the stock in a report on Tuesday, July 8th. Keefe, Bruyette & Woods decreased their price target 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. UBS Group dropped their price objective on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company decreased their target price on PennyMac Financial Services from $120.00 to $115.00 and set an "overweight" rating for the company in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $118.67.

Insider Buying and Selling

In other news, CEO David Spector sold 5,000 shares of the firm's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $100.81, for a total transaction of $504,050.00. Following the completion of the transaction, the chief executive officer directly owned 135,604 shares of the company's stock, valued at approximately $13,670,239.24. This trade represents a 3.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph F. Mazzella sold 11,000 shares of the company's stock in a transaction dated 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 directly owned 92,863 shares in the company, valued at approximately $9,121,932.49. The trade was a 10.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,500 shares of company stock valued at $3,616,005 over the last ninety days. 15.80% of the stock is owned by company insiders.

About PennyMac Financial Services

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.