Northwest & Ethical Investments L.P. Purchases 645 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Northwest & Ethical Investments L.P. increased its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 38.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,330 shares of the real estate investment trust’s stock after acquiring an additional 645 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in PennyMac Financial Services were worth $266,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new position in PennyMac Financial Services during the 3rd quarter valued at about $37,000. Blue Trust Inc. raised its stake in shares of PennyMac Financial Services by 1,529.6% during the second quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 413 shares during the last quarter. Hexagon Capital Partners LLC lifted its holdings in PennyMac Financial Services by 29.6% in the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 109 shares during the period. KBC Group NV boosted its stake in PennyMac Financial Services by 20.3% in the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 226 shares during the last quarter. Finally, Quantbot Technologies LP grew its holdings in PennyMac Financial Services by 23.7% during the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 290 shares during the period. Institutional investors own 57.87% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays raised their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Wedbush reissued an “outperform” rating and set a $130.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Piper Sandler upped their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, PennyMac Financial Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $115.86.

Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, insider Steven Richard Bailey sold 14,130 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the sale, the insider now directly owns 14,670 shares of the company’s stock, valued at $1,714,629.60. The trade was a 49.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Gregory L. Hendry sold 3,032 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total transaction of $309,536.88. Following the completion of the sale, the chief accounting officer now directly owns 48,040 shares in the company, valued at approximately $4,904,403.60. This represents a 5.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,162 shares of company stock valued at $7,491,026. 16.60% of the stock is currently owned by insiders.

PennyMac Financial Services Stock Performance

Shares of NYSE:PFSI opened at $107.13 on Friday. PennyMac Financial Services, Inc. has a 12-month low of $77.08 and a 12-month high of $119.13. The company’s 50 day moving average price is $105.96 and its two-hundred day moving average price is $100.69. The firm has a market cap of $5.49 billion, a PE ratio of 34.01 and a beta of 1.79. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The company had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. During the same quarter in the previous year, the business posted $1.77 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. Equities research analysts predict that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.12%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s payout ratio is 38.10%.

PennyMac Financial Services Company Profile

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.