Jupiter Topco LLC Purchases New Shares in PennyMac Financial Services, Inc. $PFSI

Jupiter Topco LLC acquired a new position in PennyMac Financial Services, Inc. (NYSE:PFSI) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 13,514 shares of the real estate investment trust’s stock, valued at approximately $1,176,000.

A number of other large investors have also recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its position in shares of PennyMac Financial Services by 7,600.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 228 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in PennyMac Financial Services in the fourth quarter worth about $31,000. EverSource Wealth Advisors LLC purchased a new position in PennyMac Financial Services in the second quarter worth about $26,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in PennyMac Financial Services during the second quarter worth approximately $25,000. Finally, Strs Ohio bought a new stake in PennyMac Financial Services during the first quarter worth approximately $30,000. 57.87% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Gregory Hendry sold 2,177 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $86.89, for a total transaction of $189,159.53. Following the completion of the sale, the chief accounting officer directly owned 48,968 shares of the company’s stock, valued at approximately $4,254,829.52. This trade represents a 4.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 15.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PFSI. Keefe, Bruyette & Woods lowered their price objective on PennyMac Financial Services from $108.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Weiss Ratings reiterated a “sell (d+)” rating on shares of PennyMac Financial Services in a report on Monday, August 3rd. Wells Fargo & Company cut their target price on PennyMac Financial Services from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Stephens decreased their price target on PennyMac Financial Services from $91.00 to $78.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. Finally, Wall Street Zen downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, PennyMac Financial Services has a consensus rating of “Hold” and a consensus price target of $104.88.

PennyMac Financial Services Stock Performance

Shares of NYSE:PFSI opened at $73.29 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. PennyMac Financial Services, Inc. has a 12 month low of $70.67 and a 12 month high of $160.36. The company has a market capitalization of $3.81 billion, a price-to-earnings ratio of 10.07, a PEG ratio of 0.69 and a beta of 1.44. The firm’s 50-day moving average is $79.32 and its 200 day moving average is $84.63.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.11 by ($0.72). PennyMac Financial Services had a return on equity of 11.18% and a net margin of 17.74%.During the same quarter in the prior year, the company posted $2.54 earnings per share. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. Research analysts predict that PennyMac Financial Services, Inc. will post 7.36 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Monday, August 17th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, August 17th. PennyMac Financial Services’s dividend payout ratio is presently 16.48%.

About PennyMac Financial Services

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.