Hexagon Capital Partners LLC Buys 205 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Hexagon Capital Partners LLC raised its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 128.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 364 shares of the real estate investment trust’s stock after acquiring an additional 205 shares during the period. Hexagon Capital Partners LLC’s holdings in PennyMac Financial Services were worth $32,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Federated Hermes Inc. grew its holdings in shares of PennyMac Financial Services by 40.0% in the 4th quarter. Federated Hermes Inc. now owns 60,346 shares of the real estate investment trust’s stock worth $5,333,000 after purchasing an additional 17,245 shares during the last quarter. Qube Research & Technologies Ltd bought a new stake in PennyMac Financial Services during the third quarter worth about $3,370,000. Graham Capital Management L.P. acquired a new stake in shares of PennyMac Financial Services during the third quarter worth approximately $1,237,000. Adage Capital Partners GP L.L.C. acquired a new stake in shares of PennyMac Financial Services during the third quarter worth approximately $3,657,000. Finally, Invesco Ltd. raised its stake in shares of PennyMac Financial Services by 47.6% in the third quarter. Invesco Ltd. now owns 490,297 shares of the real estate investment trust’s stock valued at $32,654,000 after acquiring an additional 158,181 shares during the last quarter. 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 recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Keefe, Bruyette & Woods lowered their target price on PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Wedbush restated an “outperform” rating and issued a $110.00 price objective on shares of PennyMac Financial Services in a research report on Thursday, April 25th. Barclays raised their price target on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Finally, StockNews.com raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.75.

PennyMac Financial Services Trading Up 3.4 %

NYSE PFSI opened at $90.94 on Friday. PennyMac Financial Services, Inc. has a 12 month low of $56.16 and a 12 month high of $94.78. The stock has a 50-day simple moving average of $87.86 and a 200 day simple moving average of $83.75. The company has a current ratio of 0.39, a quick ratio of 0.37 and a debt-to-equity ratio of 2.33. The company has a market capitalization of $4.59 billion, a PE ratio of 31.57, a P/E/G ratio of 0.57 and a beta of 1.68.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.14. The company had revenue of $305.66 million during the quarter, compared to analyst estimates of $422.87 million. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. Research analysts forecast that PennyMac Financial Services, Inc. will post 10.55 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.88%. PennyMac Financial Services’s dividend payout ratio is 27.78%.

Insider Activity

In related news, CFO Daniel Stanley Perotti sold 11,400 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $88.50, for a total transaction of $1,008,900.00. Following the sale, the chief financial officer now owns 257,897 shares of the company’s stock, valued at approximately $22,823,884.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO David Spector sold 15,000 shares of the company’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $87.18, for a total value of $1,307,700.00. Following the completion of the transaction, the chief executive officer now directly owns 270,604 shares of the company’s stock, valued at approximately $23,591,256.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Daniel Stanley Perotti sold 11,400 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $88.50, for a total value of $1,008,900.00. Following the completion of the sale, the chief financial officer now owns 257,897 shares in the company, valued at $22,823,884.50. The disclosure for this sale can be found here. Insiders sold 87,802 shares of company stock valued at $7,666,108 in the last quarter. Company insiders own 16.60% of the company’s stock.

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.