Janus Henderson Group PLC Purchases 254,354 Shares of PennyMac Financial Services, Inc. $PFSI

Janus Henderson Group PLC boosted its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 1,882.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 267,868 shares of the real estate investment trust’s stock after buying an additional 254,354 shares during the period. Janus Henderson Group PLC’s holdings in PennyMac Financial Services were worth $23,423,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PFSI. Norges Bank acquired a new position in shares of PennyMac Financial Services in the 4th quarter valued at approximately $44,287,000. Two Sigma Investments LP boosted its position in shares of PennyMac Financial Services by 1,148.7% during the 3rd quarter. Two Sigma Investments LP now owns 310,919 shares of the real estate investment trust’s stock worth $38,517,000 after acquiring an additional 286,019 shares in the last quarter. Holocene Advisors LP increased its stake in PennyMac Financial Services by 2,379.5% in the third quarter. Holocene Advisors LP now owns 245,268 shares of the real estate investment trust’s stock valued at $30,384,000 after acquiring an additional 235,376 shares during the last quarter. Invesco Ltd. increased its stake in PennyMac Financial Services by 18.3% in the third quarter. Invesco Ltd. now owns 1,463,096 shares of the real estate investment trust’s stock valued at $181,248,000 after acquiring an additional 226,581 shares during the last quarter. Finally, 140 Summer Partners LP raised its position in PennyMac Financial Services by 50.2% during the fourth quarter. 140 Summer Partners LP now owns 669,892 shares of the real estate investment trust’s stock valued at $88,319,000 after purchasing an additional 223,752 shares in the last quarter. 57.87% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on PFSI. Wells Fargo & Company cut their target price on PennyMac Financial Services from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Weiss Ratings lowered PennyMac Financial Services from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Stephens lowered their price target on PennyMac Financial Services from $91.00 to $78.00 and set an “equal weight” rating for the company in a report on Thursday. Wall Street Zen downgraded PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Barclays reduced their price objective on PennyMac Financial Services from $93.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $104.88.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $87.99, for a total transaction of $879,900.00. Following the sale, the chief executive officer directly owned 60,604 shares of the company’s stock, valued at $5,332,545.96. The trade was a 14.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 that occurred on Friday, May 15th. The shares were sold at an average price of $87.50, for a total transaction of $255,937.50. Following the completion of the transaction, the chief financial officer owned 210,625 shares of the company’s stock, valued at approximately $18,429,687.50. This trade represents a 1.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 18,045 shares of company stock worth $1,565,470 in the last quarter. 15.80% of the stock is owned by insiders.

PennyMac Financial Services Trading Up 1.2%

Shares of PFSI stock opened at $76.35 on Tuesday. The firm has a market capitalization of $3.96 billion, a P/E ratio of 10.49, a P/E/G ratio of 0.71 and a beta of 1.44. PennyMac Financial Services, Inc. has a twelve month low of $71.68 and a twelve month high of $160.36. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 3.63. The stock’s fifty day simple moving average is $82.87 and its 200 day simple moving average is $92.63.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Wednesday, July 29th. The real estate investment trust reported $1.39 EPS for the quarter, missing the consensus estimate of $2.11 by ($0.72). PennyMac Financial Services had a net margin of 17.74% and a return on equity of 11.21%. The firm had revenue of $566.00 million during the quarter, compared to the consensus estimate of $571.60 million. During the same quarter in the prior year, the business posted $2.54 earnings per share. PennyMac Financial Services’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, sell-side analysts predict that PennyMac Financial Services, Inc. will post 7.42 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Monday, August 17th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Monday, August 17th. PennyMac Financial Services’s dividend payout ratio (DPR) is 16.48%.

PennyMac Financial Services 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.