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

Lightrock Netherlands B.V. acquired a new stake in PennyMac Financial Services, Inc. (NYSE:PFSI) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 87,743 shares of the real estate investment trust’s stock, valued at approximately $9,006,000. PennyMac Financial Services accounts for approximately 3.2% of Lightrock Netherlands B.V.’s portfolio, making the stock its 12th biggest holding.

A number of other institutional investors have also modified their holdings of PFSI. Harbor Capital Advisors Inc. purchased a new position in PennyMac Financial Services in the third quarter valued at about $37,000. Blue Trust Inc. raised its holdings in shares of PennyMac Financial Services by 59.5% during the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock valued at $80,000 after buying an additional 262 shares during the period. KBC Group NV lifted its position in PennyMac Financial Services by 20.3% during the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after acquiring an additional 226 shares in the last quarter. Quantbot Technologies LP boosted its holdings in PennyMac Financial Services by 23.7% in 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. Finally, Verition Fund Management LLC acquired a new stake in PennyMac Financial Services in the third quarter valued at approximately $203,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Stock Performance

Shares of PennyMac Financial Services stock opened at $102.98 on Tuesday. The firm has a market cap 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 1 year low of $83.03 and a 1 year high of $119.13. The firm’s 50-day simple moving average is $104.30 and its 200-day simple moving average is $104.62. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 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%. Equities analysts forecast that PennyMac Financial Services, Inc. will post 13.98 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

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

Insider Buying and Selling at PennyMac Financial Services

In related news, CAO Gregory L. Hendry sold 3,032 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 48,040 shares in the company, valued at $4,904,403.60. The trade was a 5.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David Spector sold 5,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $99.38, for a total value of $496,900.00. Following the completion of the sale, the chief executive officer now directly owns 165,604 shares in the company, valued at $16,457,725.52. This represents a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 137,844 shares of company stock worth $14,029,391 over the last 90 days. Insiders own 16.60% of the company’s stock.

Analyst Upgrades and Downgrades

PFSI has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods lowered their price target on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company 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 research note on Thursday, October 24th. Wedbush reiterated an “outperform” rating and issued a $130.00 price target on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Finally, Piper Sandler lowered their price objective on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. One equities research 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 MarketBeat, PennyMac Financial Services currently has a consensus rating of “Moderate Buy” and an average price target of $122.17.

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.