SG Americas Securities LLC Purchases Shares of 3,614 PennyMac Financial Services, Inc. $PFSI

SG Americas Securities LLC bought a new stake in PennyMac Financial Services, Inc. (NYSE:PFSI) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 3,614 shares of the real estate investment trust’s stock, valued at approximately $448,000.

Other hedge funds have also recently modified their holdings of the company. Longboard Asset Management LP purchased a new position in PennyMac Financial Services during the 3rd quarter worth approximately $213,000. CWM LLC boosted its holdings in shares of PennyMac Financial Services by 92.7% in the third quarter. CWM LLC now owns 555 shares of the real estate investment trust’s stock valued at $69,000 after acquiring an additional 267 shares during the period. Harbor Capital Advisors Inc. grew its position in shares of PennyMac Financial Services by 26.3% during the third quarter. Harbor Capital Advisors Inc. now owns 504 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 105 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of PennyMac Financial Services by 9.3% in the 2nd quarter. Osaic Holdings Inc. now owns 3,381 shares of the real estate investment trust’s stock valued at $337,000 after acquiring an additional 289 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of PennyMac Financial Services by 4.1% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 16,073 shares of the real estate investment trust’s stock valued at $1,602,000 after acquiring an additional 626 shares during the period. 57.87% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PennyMac Financial Services news, CAO Gregory L. Hendry sold 3,530 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $131.64, for a total transaction of $464,689.20. Following the sale, the chief accounting officer directly owned 48,633 shares in the company, valued at approximately $6,402,048.12. The trade was a 6.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniel Stanley Perotti sold 8,775 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $126.67, for a total transaction of $1,111,529.25. Following the transaction, the chief financial officer directly owned 216,475 shares in the company, valued at approximately $27,420,888.25. This trade represents a 3.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 80,076 shares of company stock worth $10,512,190. 15.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PFSI shares. Wall Street Zen downgraded shares of PennyMac Financial Services from a “buy” rating to a “hold” rating in a research report on Sunday, January 18th. BTIG Research increased their target price on shares of PennyMac Financial Services from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, December 29th. Piper Sandler raised their price target on PennyMac Financial Services from $146.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, January 15th. UBS Group upped their price objective on PennyMac Financial Services from $135.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Finally, Wells Fargo & Company lifted their target price on PennyMac Financial Services from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, January 5th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $153.43.

PennyMac Financial Services Stock Performance

Shares of PFSI stock opened at $150.75 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 3.01. The stock has a 50 day simple moving average of $135.96 and a 200-day simple moving average of $121.80. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 0.69 and a beta of 1.57. PennyMac Financial Services, Inc. has a 12-month low of $85.74 and a 12-month high of $160.36.

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.