QRG Capital Management Inc. Purchases 1,008 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

QRG Capital Management Inc. increased its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 3.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,900 shares of the real estate investment trust’s stock after purchasing an additional 1,008 shares during the period. QRG Capital Management Inc. owned approximately 0.07% of PennyMac Financial Services worth $3,302,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. USA Financial Formulas bought a new stake in shares of PennyMac Financial Services during the 4th quarter valued at $25,000. Hexagon Capital Partners LLC grew its stake in PennyMac Financial Services by 128.9% during the fourth quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 205 shares in the last quarter. Parkside Financial Bank & Trust acquired a new stake in PennyMac Financial Services during the fourth quarter worth about $36,000. TFO Wealth Partners LLC increased its holdings in PennyMac Financial Services by 16,300.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 1,141 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of PennyMac Financial Services in the 1st quarter valued at approximately $202,000. 57.87% of the stock is currently owned by institutional investors.

PennyMac Financial Services Trading Up 1.3 %

NYSE PFSI traded up $1.28 during trading hours on Friday, hitting $97.08. 148,599 shares of the company’s stock were exchanged, compared to its average volume of 367,859. The firm has a market cap of $4.94 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 0.62 and a beta of 1.72. The stock has a 50-day simple moving average of $94.91 and a 200 day simple moving average of $91.05. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.75. PennyMac Financial Services, Inc. has a 1-year low of $62.15 and a 1-year high of $105.94.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The company had revenue of $406.13 million during the quarter, compared to analyst estimates of $469.64 million. During the same quarter in the previous year, the business posted $1.11 earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities analysts forecast that PennyMac Financial Services, Inc. will post 10.54 EPS for the current fiscal year.

PennyMac Financial Services Increases Dividend

The firm 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 a boost from PennyMac Financial Services’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Tuesday, August 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 27.78%.

Insider Transactions at PennyMac Financial Services

In other news, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $92.06, for a total value of $920,600.00. Following the transaction, the chief executive officer now owns 220,604 shares in the company, valued at $20,308,804.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $92.06, for a total transaction of $920,600.00. Following the transaction, the chief executive officer now directly owns 220,604 shares of the company’s stock, valued at $20,308,804.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel Stanley Perotti sold 11,400 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $92.00, for a total transaction of $1,048,800.00. Following the completion of the sale, the chief financial officer now directly owns 246,497 shares of the company’s stock, valued at $22,677,724. The disclosure for this sale can be found here. Insiders sold a total of 71,400 shares of company stock valued at $6,551,300 over the last three months. Corporate insiders own 16.60% of the company’s stock.

Wall Street Analysts Forecast Growth

PFSI has been the subject of a number of research analyst reports. Piper Sandler boosted their price target on PennyMac Financial Services from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. StockNews.com cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Wedbush increased their price objective on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods lowered shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price on the stock. in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.