Maverick Capital Ltd. Sells 106 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Maverick Capital Ltd. cut its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 0.8% in the third quarter, HoldingsChannel reports. The fund owned 12,798 shares of the real estate investment trust’s stock after selling 106 shares during the period. Maverick Capital Ltd.’s holdings in PennyMac Financial Services were worth $1,459,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PFSI. Verition Fund Management LLC acquired a new stake in shares of PennyMac Financial Services in the third quarter valued at approximately $203,000. Northwest & Ethical Investments L.P. boosted its position in PennyMac Financial Services by 38.3% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 2,330 shares of the real estate investment trust’s stock valued at $266,000 after buying an additional 645 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of PennyMac Financial Services by 0.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 96,324 shares of the real estate investment trust’s stock valued at $10,978,000 after buying an additional 669 shares during the period. FORA Capital LLC bought a new stake in shares of PennyMac Financial Services during the third quarter worth $616,000. Finally, Cynosure Group LLC lifted its stake in shares of PennyMac Financial Services by 57.7% during the third quarter. Cynosure Group LLC now owns 6,454 shares of the real estate investment trust’s stock valued at $736,000 after acquiring an additional 2,361 shares during the period. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PFSI has been the subject of a number of research reports. Barclays lifted their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Wells Fargo & Company lifted their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Wedbush restated an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Finally, Piper Sandler lifted their target price 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, PennyMac Financial Services currently has a consensus rating of “Moderate Buy” and an average target price of $115.86.

PennyMac Financial Services Stock Up 0.2 %

PennyMac Financial Services stock opened at $107.13 on Friday. PennyMac Financial Services, Inc. has a fifty-two week low of $77.08 and a fifty-two week high of $119.13. 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 firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 34.01 and a beta of 1.79. The company’s 50 day simple moving average is $105.96 and its 200 day simple moving average is $100.69.

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 analysts’ consensus estimates of $2.92 by ($1.62). The firm had revenue of $411.83 million during 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%. PennyMac Financial Services’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 EPS. As a group, sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio is currently 38.10%.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $112.93, for a total value of $1,185,765.00. Following the sale, the chief financial officer now owns 235,997 shares of the company’s stock, valued at $26,651,141.21. This trade represents a 4.26 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Gregory L. Hendry sold 3,032 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total value of $309,536.88. Following the transaction, the chief accounting officer now directly owns 48,040 shares of the company’s stock, valued at $4,904,403.60. This represents a 5.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 68,162 shares of company stock worth $7,491,026. 16.60% of the stock is owned by company insiders.

About PennyMac Financial Services

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.