Aigen Investment Management LP Makes New $280,000 Investment in PennyMac Financial Services, Inc. (NYSE:PFSI)

Aigen Investment Management LP purchased a new stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) in the third quarter, HoldingsChannel.com reports. The fund purchased 2,455 shares of the real estate investment trust’s stock, valued at approximately $280,000.

Several other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. raised its position in PennyMac Financial Services by 91.3% during the first quarter. Russell Investments Group Ltd. now owns 19,246 shares of the real estate investment trust’s stock worth $1,753,000 after acquiring an additional 9,183 shares during the last quarter. Edgestream Partners L.P. raised its stake in PennyMac Financial Services by 349.5% in the 1st quarter. Edgestream Partners L.P. now owns 23,774 shares of the real estate investment trust’s stock valued at $2,166,000 after purchasing an additional 18,485 shares during the last quarter. Vanguard Group Inc. lifted its holdings in PennyMac Financial Services by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust’s stock valued at $238,509,000 after purchasing an additional 8,345 shares in the last quarter. Maverick Capital Ltd. boosted its stake in shares of PennyMac Financial Services by 263.8% during the 2nd quarter. Maverick Capital Ltd. now owns 12,904 shares of the real estate investment trust’s stock worth $1,221,000 after purchasing an additional 9,357 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of PennyMac Financial Services by 13.2% during the 2nd quarter. American Century Companies Inc. now owns 347,979 shares of the real estate investment trust’s stock worth $32,919,000 after purchasing an additional 40,676 shares during the last quarter. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Wall Street Analyst Weigh In

PFSI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods downgraded shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price objective on the stock. in a research note on Monday, July 22nd. Wedbush reissued an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Barclays lifted their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Piper Sandler increased their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $115.86.

PennyMac Financial Services Stock Performance

NYSE:PFSI opened at $102.52 on Friday. The firm has a market capitalization of $5.26 billion, a price-to-earnings ratio of 32.55 and a beta of 1.79. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75. PennyMac Financial Services, Inc. has a twelve month low of $74.69 and a twelve month high of $119.13. The firm’s fifty day simple moving average is $107.35 and its 200 day simple moving average is $99.65.

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

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Monday, November 18th. PennyMac Financial Services’s payout ratio is 38.10%.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $99.31, for a total transaction of $993,100.00. Following the completion of the sale, the chief executive officer now owns 210,604 shares in the company, valued at $20,915,083.24. The trade was a 4.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Richard Bailey sold 14,130 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 14,670 shares in the company, valued at $1,714,629.60. This represents a 49.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,459 shares of company stock valued at $9,582,102 in the last three months. 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.