PennyMac Financial Services, Inc. $PFSI Stock Holdings Boosted by Lightrock Netherlands B.V.

Lightrock Netherlands B.V. boosted its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 5.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 143,113 shares of the real estate investment trust’s stock after purchasing an additional 7,058 shares during the quarter. PennyMac Financial Services makes up 3.3% of Lightrock Netherlands B.V.’s holdings, making the stock its 7th largest position. Lightrock Netherlands B.V. owned about 0.28% of PennyMac Financial Services worth $14,260,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PFSI. Bank of New York Mellon Corp boosted its position in PennyMac Financial Services by 45.9% during the first quarter. Bank of New York Mellon Corp now owns 290,235 shares of the real estate investment trust’s stock worth $29,055,000 after purchasing an additional 91,338 shares in the last quarter. Xponance Inc. purchased a new position in PennyMac Financial Services during the first quarter worth approximately $202,000. New York State Common Retirement Fund boosted its position in PennyMac Financial Services by 1.2% during the first quarter. New York State Common Retirement Fund now owns 71,944 shares of the real estate investment trust’s stock worth $7,202,000 after purchasing an additional 879 shares in the last quarter. CWM LLC raised its holdings in shares of PennyMac Financial Services by 71.5% during the first quarter. CWM LLC now owns 271 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 113 shares during the last quarter. Finally, Hohimer Wealth Management LLC raised its holdings in shares of PennyMac Financial Services by 5.4% during the first quarter. Hohimer Wealth Management LLC now owns 2,351 shares of the real estate investment trust’s stock valued at $235,000 after acquiring an additional 121 shares during the last quarter. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on PFSI. Weiss Ratings reissued a “hold (c)” rating on shares of PennyMac Financial Services in a report on Wednesday, October 8th. Piper Sandler increased their target price on PennyMac Financial Services from $136.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Wall Street Zen raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Monday, September 29th. BTIG Research reissued a “buy” rating and set a $135.00 target price on shares of PennyMac Financial Services in a report on Wednesday, October 22nd. Finally, UBS Group increased their target price on PennyMac Financial Services from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $138.67.

Insider Buying and Selling

In related news, Director Anne Mccallion sold 27,771 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $131.55, for a total value of $3,653,275.05. Following the completion of the transaction, the director directly owned 1,547 shares in the company, valued at approximately $203,507.85. This represents a 94.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David Spector sold 71,161 shares of the stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $128.07, for a total value of $9,113,589.27. Following the completion of the transaction, the chief executive officer owned 577,859 shares of the company’s stock, valued at $74,006,402.13. The trade was a 10.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 173,685 shares of company stock valued at $21,896,093 in the last ninety days. Company insiders own 15.80% of the company’s stock.

PennyMac Financial Services Price Performance

NYSE:PFSI opened at $130.18 on Wednesday. PennyMac Financial Services, Inc. has a one year low of $85.74 and a one year high of $134.56. The company has a debt-to-equity ratio of 3.03, a quick ratio of 0.34 and a current ratio of 0.34. The stock has a market cap of $6.73 billion, a PE ratio of 14.03 and a beta of 1.59. The stock has a 50 day moving average price of $119.53 and a 200 day moving average price of $105.57.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 EPS for the quarter, beating the consensus estimate of $2.98 by $0.39. PennyMac Financial Services had a return on equity of 11.90% and a net margin of 25.21%.The firm had revenue of $632.90 million during the quarter, compared to analysts’ expectations of $573.46 million. During the same quarter last year, the firm earned $1.30 earnings per share. The business’s revenue for the quarter was up 53.7% on a year-over-year basis. Equities research analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 17th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, November 17th. PennyMac Financial Services’s dividend payout ratio is presently 12.93%.

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.