Senvest Management LLC Has $112.72 Million Stake in PennyMac Financial Services, Inc. (NYSE:PFSI)

Senvest Management LLC cut its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 10.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 989,062 shares of the real estate investment trust’s stock after selling 120,069 shares during the quarter. PennyMac Financial Services accounts for about 3.9% of Senvest Management LLC’s portfolio, making the stock its 12th biggest position. Senvest Management LLC owned approximately 1.93% of PennyMac Financial Services worth $112,723,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Russell Investments Group Ltd. raised its holdings in shares of PennyMac Financial Services by 91.3% in the first quarter. Russell Investments Group Ltd. now owns 19,246 shares of the real estate investment trust’s stock valued at $1,753,000 after purchasing an additional 9,183 shares during the last quarter. Vanguard Group Inc. grew its position 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 worth $238,509,000 after purchasing an additional 8,345 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in PennyMac Financial Services in the 1st quarter valued at about $315,000. CANADA LIFE ASSURANCE Co lifted its position in shares of 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 in the last quarter. Finally, 1832 Asset Management L.P. purchased a new position in shares of PennyMac Financial Services in the 1st quarter worth approximately $1,785,000. 57.87% of the stock is owned by hedge funds and other institutional investors.

PennyMac Financial Services Stock Up 1.6 %

Shares of NYSE PFSI opened at $105.62 on Friday. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38. The stock has a market capitalization of $5.41 billion, a PE ratio of 33.53 and a beta of 1.79. PennyMac Financial Services, Inc. has a one year low of $76.57 and a one year high of $119.13. The business’s fifty day moving average price is $106.77 and its 200-day moving average price is $100.23.

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 the consensus estimate of $2.92 by ($1.62). The business had revenue of $411.83 million for the quarter, compared to analysts’ expectations of $513.12 million. PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. PennyMac Financial Services’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period last year, the company earned $1.77 earnings per share. On average, equities research analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 EPS for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 18th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.14%. The ex-dividend date is Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 38.10%.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, 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 value of $1,651,514.40. Following the completion of the transaction, the insider now owns 14,670 shares in the company, valued at $1,714,629.60. This trade represents a 49.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anne Mccallion sold 23,829 shares of PennyMac Financial Services stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $103.14, for a total value of $2,457,723.06. Following the transaction, the director now directly owns 1,854 shares of the company’s stock, valued at $191,221.56. The trade was a 92.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 91,991 shares of company stock worth $9,948,749. Corporate insiders own 16.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PFSI. Wedbush reaffirmed an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Piper Sandler boosted their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Finally, Barclays increased their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. One research 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 MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $115.86.

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.