Maverick Capital Ltd. Has $1.46 Million Stock Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Maverick Capital Ltd. trimmed its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 0.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,798 shares of the real estate investment trust’s stock after selling 106 shares during the period. Maverick Capital Ltd.’s holdings in PennyMac Financial Services were worth $1,459,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. acquired a new position in shares of PennyMac Financial Services in the 3rd quarter valued at about $37,000. Blue Trust Inc. increased its stake in PennyMac Financial Services by 1,529.6% in the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock valued at $40,000 after buying an additional 413 shares during the period. Hexagon Capital Partners LLC increased 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 worth $45,000 after acquiring an additional 109 shares during the last quarter. KBC Group NV raised its holdings in shares of PennyMac Financial Services by 20.3% during the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after acquiring an additional 226 shares in the last quarter. Finally, Quantbot Technologies LP raised its holdings in shares of PennyMac Financial Services by 23.7% during the third 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 in the last quarter. 57.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In other PennyMac Financial Services news, CAO Gregory L. Hendry sold 3,032 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total value of $309,536.88. Following the transaction, the chief accounting officer now directly owns 48,040 shares in the company, valued at $4,904,403.60. The trade was a 5.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven Richard Bailey sold 14,130 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the sale, the insider now directly owns 14,670 shares of the company’s stock, valued at approximately $1,714,629.60. The trade was a 49.06 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,162 shares of company stock worth $7,491,026. Company insiders own 16.60% of the company’s stock.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI opened at $107.13 on Friday. PennyMac Financial Services, Inc. has a one year low of $77.08 and a one year high of $119.13. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75. The business has a fifty day simple moving average of $105.96 and a 200 day simple moving average of $100.69. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 34.01 and a beta of 1.79.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $411.83 million for the quarter, compared to the consensus estimate of $513.12 million. During the same period in the previous year, the business posted $1.77 earnings per share. PennyMac Financial Services’s revenue was up 2.9% on a year-over-year basis. Sell-side analysts expect that PennyMac Financial Services, Inc. will post 11.88 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders 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 yield of 1.12%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s payout ratio is 38.10%.

PennyMac Financial Services Company 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.