Interval Partners LP Sells 10,874 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Interval Partners LP trimmed its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 47.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,154 shares of the real estate investment trust’s stock after selling 10,874 shares during the quarter. Interval Partners LP’s holdings in PennyMac Financial Services were worth $1,107,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Jacobs Levy Equity Management Inc. boosted its position in PennyMac Financial Services by 0.9% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 139,882 shares of the real estate investment trust’s stock worth $12,742,000 after acquiring an additional 1,190 shares during the last quarter. 1832 Asset Management L.P. bought a new position in PennyMac Financial Services during the 1st quarter worth $1,785,000. CANADA LIFE ASSURANCE Co increased its position in PennyMac Financial Services by 3.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 23,433 shares of the real estate investment trust’s stock worth $2,134,000 after buying an additional 689 shares during the period. Cynosure Group LLC bought a new position in PennyMac Financial Services during the 1st quarter worth $323,000. Finally, Edgestream Partners L.P. increased its position in PennyMac Financial Services by 349.5% during the 1st quarter. Edgestream Partners L.P. now owns 23,774 shares of the real estate investment trust’s stock worth $2,166,000 after buying an additional 18,485 shares during the period. 57.87% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Doug Jones sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $91.49, for a total transaction of $2,744,700.00. Following the completion of the sale, the director now owns 480,000 shares in the company, valued at $43,915,200. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, Director Doug Jones sold 30,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $91.49, for a total transaction of $2,744,700.00. Following the completion of the sale, the director now owns 480,000 shares in the company, valued at $43,915,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph F. Mazzella sold 16,465 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $90.73, for a total value of $1,493,869.45. Following the sale, the director now owns 116,546 shares of the company’s stock, valued at approximately $10,574,218.58. The disclosure for this sale can be found here. Insiders sold a total of 87,865 shares of company stock worth $8,045,169 over the last quarter. 16.60% of the stock is currently owned by corporate insiders.

PennyMac Financial Services Trading Up 0.7 %

PFSI stock traded up $0.73 during mid-day trading on Wednesday, reaching $99.12. The company’s stock had a trading volume of 33,672 shares, compared to its average volume of 242,847. The company has a market cap of $5.05 billion, a price-to-earnings ratio of 34.16, a price-to-earnings-growth ratio of 0.64 and a beta of 1.72. The business’s 50 day moving average price is $94.04 and its 200 day moving average price is $90.47. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.33. PennyMac Financial Services, Inc. has a 12 month low of $62.15 and a 12 month high of $105.94.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). The business had revenue of $406.13 million during the quarter, compared to the consensus estimate of $469.64 million. PennyMac Financial Services had a return on equity of 12.78% and a net margin of 13.13%. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.11 earnings per share. On average, equities research analysts predict that PennyMac Financial Services, Inc. will post 10.54 EPS for the current year.

PennyMac Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th will be issued a dividend of $0.30 per share. This is an increase from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.21%. PennyMac Financial Services’s payout ratio is currently 27.78%.

Analysts Set New Price Targets

A number of brokerages recently commented on PFSI. Piper Sandler raised their price target on PennyMac Financial Services from $110.00 to $112.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. Barclays lifted their price target on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods lowered 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. StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. According to MarketBeat, PennyMac Financial Services presently has an average rating of “Hold” and an average target price of $107.17.

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.