Advantage Alpha Capital Partners LP Reduces Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Advantage Alpha Capital Partners LP decreased its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 21.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 52,417 shares of the real estate investment trust’s stock after selling 14,612 shares during the period. PennyMac Financial Services makes up 1.4% of Advantage Alpha Capital Partners LP’s portfolio, making the stock its 24th largest holding. Advantage Alpha Capital Partners LP’s holdings in PennyMac Financial Services were worth $5,974,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Harbor Capital Advisors Inc. bought a new stake in shares of PennyMac Financial Services in the third quarter worth approximately $37,000. Blue Trust Inc. grew its position in PennyMac Financial Services by 1,529.6% in the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $40,000 after purchasing an additional 413 shares during the period. Hexagon Capital Partners LLC grew its position in PennyMac Financial Services by 29.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 109 shares during the period. KBC Group NV raised its stake in PennyMac Financial Services by 20.3% during the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after buying an additional 226 shares during the last quarter. Finally, Aigen Investment Management LP bought a new position in shares of PennyMac Financial Services during the 3rd quarter valued at $280,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Analysts Set New Price Targets

PFSI has been the subject of several research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a 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 stock an “overweight” rating in a research report on Thursday, October 24th. Piper Sandler upped their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Barclays increased their price objective on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, PennyMac Financial Services has an average rating of “Moderate Buy” and a consensus price target of $115.86.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, insider Steven Richard Bailey sold 14,130 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the completion of the sale, the insider now directly owns 14,670 shares of the company’s stock, valued at $1,714,629.60. This trade represents a 49.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Gregory L. Hendry sold 3,032 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total transaction of $309,536.88. Following the sale, the chief accounting officer now owns 48,040 shares in the company, valued at approximately $4,904,403.60. The trade was a 5.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,162 shares of company stock valued at $7,491,026 over the last three months. Corporate insiders own 16.60% of the company’s stock.

PennyMac Financial Services Stock Performance

NYSE:PFSI opened at $107.68 on Tuesday. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a 50-day simple moving average of $106.59 and a two-hundred day simple moving average of $100.39. The firm has a market capitalization of $5.52 billion, a PE ratio of 34.18 and a beta of 1.79. PennyMac Financial Services, Inc. has a 52-week low of $76.57 and a 52-week high of $119.13.

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

PennyMac Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.11%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 38.10%.

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.