Helix Partners Management LP Buys Shares of 79,000 PennyMac Financial Services, Inc. $PFSI

Helix Partners Management LP bought a new stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) in the 1st quarter, Holdings Channel reports. The firm bought 79,000 shares of the real estate investment trust’s stock, valued at approximately $6,905,000. PennyMac Financial Services accounts for about 1.8% of Helix Partners Management LP’s portfolio, making the stock its 5th largest holding.

Other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC grew its stake in shares of PennyMac Financial Services by 3.8% in the 1st quarter. AQR Capital Management LLC now owns 24,012 shares of the real estate investment trust’s stock worth $2,404,000 after buying an additional 875 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in PennyMac Financial Services by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,923 shares of the real estate investment trust’s stock valued at $1,594,000 after buying an additional 706 shares during the last quarter. Intech Investment Management LLC raised its stake in PennyMac Financial Services by 5.8% during the first quarter. Intech Investment Management LLC now owns 15,382 shares of the real estate investment trust’s stock valued at $1,540,000 after buying an additional 840 shares during the last quarter. Strs Ohio purchased a new position in PennyMac Financial Services during the first quarter valued at $30,000. Finally, Prudential Financial Inc. boosted its holdings in PennyMac Financial Services by 82.8% in the second quarter. Prudential Financial Inc. now owns 4,084 shares of the real estate investment trust’s stock worth $413,000 after acquiring an additional 1,850 shares in the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Financial Services Stock Performance

PFSI stock opened at $84.29 on Friday. The stock has a market capitalization of $4.38 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 0.59 and a beta of 1.44. PennyMac Financial Services, Inc. has a 12-month low of $77.67 and a 12-month high of $160.36. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 3.63. The stock’s 50 day simple moving average is $83.53 and its 200 day simple moving average is $95.46.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, May 5th. The real estate investment trust reported $2.19 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.03). The business had revenue of $544.98 million for the quarter, compared to analysts’ expectations of $546.17 million. PennyMac Financial Services had a net margin of 23.47% and a return on equity of 10.93%. The business’s revenue for the quarter was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.42 earnings per share. As a group, research analysts forecast that PennyMac Financial Services, Inc. will post 9.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 28th. Stockholders of record on Monday, May 18th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Monday, May 18th. PennyMac Financial Services’s dividend payout ratio is presently 12.75%.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CAO Gregory L. Hendry sold 2,177 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $86.89, for a total value of $189,159.53. Following the completion of the transaction, the chief accounting officer owned 48,968 shares of the company’s stock, valued at approximately $4,254,829.52. The trade was a 4.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel Stanley Perotti sold 2,925 shares of the company’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $87.50, for a total transaction of $255,937.50. Following the transaction, the chief financial officer owned 210,625 shares in the company, valued at $18,429,687.50. This represents a 1.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 18,045 shares of company stock valued at $1,565,470 over the last ninety days. Insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on PFSI. Barclays cut PennyMac Financial Services from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $107.00 to $93.00 in a research note on Tuesday, July 7th. Wall Street Zen raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. BTIG Research dropped their price target on shares of PennyMac Financial Services from $150.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. Stephens assumed coverage on shares of PennyMac Financial Services in a research report on Friday, April 24th. They set an “equal weight” rating and a $100.00 price objective on the stock. Finally, Piper Sandler reduced their price objective on shares of PennyMac Financial Services from $112.00 to $106.00 and set an “overweight” rating for the company in a research note on Thursday, July 2nd. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $114.62.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.