Boston Partners Acquires 165,997 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Boston Partners boosted its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 50.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 497,080 shares of the real estate investment trust’s stock after purchasing an additional 165,997 shares during the period. Boston Partners owned about 0.97% of PennyMac Financial Services worth $51,313,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. GSA Capital Partners LLP bought a new position in shares of PennyMac Financial Services in the 3rd quarter valued at about $347,000. KBC Group NV grew its position in shares of PennyMac Financial Services by 20.3% in the 3rd 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 period. Intech Investment Management LLC bought a new position in shares of PennyMac Financial Services in the 3rd quarter valued at about $956,000. Massachusetts Financial Services Co. MA bought a new position in shares of PennyMac Financial Services in the 3rd quarter valued at about $24,644,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of PennyMac Financial Services by 7.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust’s stock valued at $50,985,000 after acquiring an additional 31,035 shares during the period. Institutional investors own 57.87% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Piper Sandler decreased their price objective on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Keefe, Bruyette & Woods decreased their price objective on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.17.

Insider Transactions at PennyMac Financial Services

In other news, CFO Daniel Stanley Perotti sold 16,481 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $101.56, for a total transaction of $1,673,810.36. Following the completion of the sale, the chief financial officer now owns 37,501 shares of the company’s stock, valued at approximately $3,808,601.56. This represents a 30.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO David Spector sold 61,120 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $101.72, for a total transaction of $6,217,126.40. Following the sale, the chief executive officer now directly owns 634,612 shares of the company’s stock, valued at approximately $64,552,732.64. This trade represents a 8.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 150,697 shares of company stock valued at $15,327,924. Company insiders own 16.60% of the company’s stock.

PennyMac Financial Services Price Performance

Shares of PennyMac Financial Services stock opened at $99.56 on Thursday. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 17.05, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. PennyMac Financial Services, Inc. has a twelve month low of $83.03 and a twelve month high of $119.13. The company has a 50-day simple moving average of $103.04 and a two-hundred day simple moving average of $104.84.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data 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 net margin of 19.54% and a return on equity of 16.61%. Analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 20.55%.

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.