HighVista Strategies LLC Purchases 6,100 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

HighVista Strategies LLC increased its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 46.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,337 shares of the real estate investment trust’s stock after acquiring an additional 6,100 shares during the quarter. HighVista Strategies LLC’s holdings in PennyMac Financial Services were worth $2,204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PFSI. Harbor Capital Advisors Inc. bought a new position in shares of PennyMac Financial Services during the 3rd quarter valued at approximately $37,000. Blue Trust Inc. increased its position in PennyMac Financial Services by 1,529.6% in the second quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 413 shares during the last quarter. Hexagon Capital Partners LLC raised its stake in shares of PennyMac Financial Services by 29.6% in the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 109 shares during the period. KBC Group NV lifted its position in shares of PennyMac Financial Services by 20.3% during the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 226 shares during the last quarter. Finally, Quantbot Technologies LP grew its stake in shares of PennyMac Financial Services by 23.7% during the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 290 shares during the period. Hedge funds and other institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI opened at $106.69 on Tuesday. The firm has a market capitalization of $5.47 billion, a P/E ratio of 33.87 and a beta of 1.78. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The stock’s 50-day simple moving average is $105.96 and its two-hundred day simple moving average is $100.80. PennyMac Financial Services, Inc. has a twelve month low of $78.71 and a twelve month high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The company had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. During the same quarter last year, the company posted $1.77 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio is currently 38.10%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Piper Sandler upped their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Wedbush restated an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Wells Fargo & Company lifted their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Barclays boosted their target price on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to MarketBeat, PennyMac Financial Services presently has an average rating of “Moderate Buy” and a consensus price target of $115.86.

Insider Buying and Selling

In other PennyMac Financial Services news, insider Steven Richard Bailey sold 14,130 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the transaction, the insider now directly owns 14,670 shares of the company’s stock, valued at approximately $1,714,629.60. This trade represents a 49.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $100.02, for a total transaction of $1,050,210.00. Following the completion of the sale, the chief financial officer now directly owns 225,497 shares of the company’s stock, valued at $22,554,209.94. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 68,162 shares of company stock worth $7,491,026. Corporate insiders own 16.60% of the company’s stock.

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.