Lightrock Netherlands B.V. Makes New $9.01 Million Investment in PennyMac Financial Services, Inc. (NYSE:PFSI)

Lightrock Netherlands B.V. bought a new stake in PennyMac Financial Services, Inc. (NYSE:PFSI) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 87,743 shares of the real estate investment trust’s stock, valued at approximately $9,006,000. PennyMac Financial Services comprises approximately 3.2% of Lightrock Netherlands B.V.’s holdings, making the stock its 12th largest holding. Lightrock Netherlands B.V. owned 0.17% of PennyMac Financial Services at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. State Street Corp increased its stake in PennyMac Financial Services by 6.0% in the 3rd quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock valued at $103,911,000 after buying an additional 51,777 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of PennyMac Financial Services by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock valued at $108,809,000 after acquiring an additional 21,751 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of PennyMac Financial Services during the third quarter worth about $614,000. HighTower Advisors LLC purchased a new position in PennyMac Financial Services during the third quarter worth about $702,000. Finally, FORA Capital LLC acquired a new stake in PennyMac Financial Services in the third quarter valued at about $616,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PFSI shares. Piper Sandler dropped their target price on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Keefe, Bruyette & Woods dropped their price objective on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a report on Tuesday, December 10th. Wells Fargo & Company raised their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Wedbush reaffirmed an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, PennyMac Financial Services presently has an average rating of “Moderate Buy” and an average target price of $122.17.

PennyMac Financial Services Trading Down 1.1 %

NYSE:PFSI opened at $102.98 on Tuesday. The company has a market capitalization of $5.28 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 0.20 and a beta of 1.78. PennyMac Financial Services, Inc. has a 52-week low of $83.03 and a 52-week high of $119.13. The stock has a fifty day simple moving average of $104.30 and a 200-day simple moving average of $104.62. 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 announced its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.80% and a net margin of 19.54%. On average, equities research analysts expect that PennyMac Financial Services, Inc. will post 13.98 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, February 23rd. Investors of record on Thursday, February 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, February 13th. PennyMac Financial Services’s payout ratio is currently 20.55%.

Insider Buying and Selling at PennyMac Financial Services

In related news, CEO David Spector sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $104.95, for a total transaction of $1,049,500.00. Following the sale, the chief executive officer now owns 170,604 shares in the company, valued at approximately $17,904,889.80. This trade represents a 5.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $100.02, for a total value of $1,050,210.00. Following the completion of the transaction, the chief financial officer now owns 225,497 shares of the company’s stock, valued at $22,554,209.94. This trade represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,844 shares of company stock worth $14,029,391. 16.60% of the stock is owned by insiders.

PennyMac Financial Services 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.