BlueCrest Capital Management Ltd Has $34.50 Million Stock Holdings in PennyMac Financial Services, Inc. $PFSI

BlueCrest Capital Management Ltd grew its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 12.8% in the second quarter, HoldingsChannel.com reports. The fund owned 396,103 shares of the real estate investment trust’s stock after acquiring an additional 45,008 shares during the quarter. PennyMac Financial Services comprises about 1.1% of BlueCrest Capital Management Ltd’s investment portfolio, making the stock its 12th biggest position. BlueCrest Capital Management Ltd’s holdings in PennyMac Financial Services were worth $34,501,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PFSI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of PennyMac Financial Services by 0.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,034 shares of the real estate investment trust’s stock worth $1,598,000 after purchasing an additional 111 shares during the period. Sei Investments Co. grew its stake in PennyMac Financial Services by 0.7% during the third quarter. Sei Investments Co. now owns 22,145 shares of the real estate investment trust’s stock worth $2,743,000 after buying an additional 146 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in PennyMac Financial Services by 1.0% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 16,236 shares of the real estate investment trust’s stock valued at $2,026,000 after buying an additional 163 shares during the period. Cerity Partners LLC increased its holdings in PennyMac Financial Services by 7.3% in the 4th quarter. Cerity Partners LLC now owns 2,399 shares of the real estate investment trust’s stock valued at $316,000 after buying an additional 164 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of PennyMac Financial Services by 4.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 4,619 shares of the real estate investment trust’s stock valued at $609,000 after buying an additional 196 shares in the last quarter. 57.87% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wall Street Zen lowered shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Stephens cut their target price on PennyMac Financial Services from $91.00 to $78.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. BTIG Research reduced their target price on PennyMac Financial Services from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of PennyMac Financial Services in a research note on Monday, August 3rd. Finally, Barclays lowered their price target on PennyMac Financial Services from $93.00 to $85.00 and set an “equal weight” rating for the company in a report on Thursday, July 30th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $104.88.

PennyMac Financial Services Price Performance

Shares of NYSE:PFSI opened at $70.83 on Thursday. PennyMac Financial Services, Inc. has a one year low of $70.67 and a one year high of $160.36. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.38 and a quick ratio of 0.38. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 9.73, a PEG ratio of 0.68 and a beta of 1.44. The firm has a 50 day simple moving average of $78.48 and a 200 day simple moving average of $84.10.

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

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were given a dividend of $0.30 per share. The ex-dividend date was Monday, August 17th. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. PennyMac Financial Services’s payout ratio is currently 16.48%.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, CAO Gregory Hendry sold 2,943 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $81.71, for a total value of $240,472.53. Following the completion of the transaction, the chief accounting officer owned 48,968 shares of the company’s stock, valued at $4,001,175.28. This represents a 5.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.20% of the stock is currently owned by insiders.

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.