Boston Partners Has $51.31 Million Stock Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Boston Partners raised its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 50.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 497,080 shares of the real estate investment trust’s stock after acquiring an additional 165,997 shares during the quarter. Boston Partners’ holdings in PennyMac Financial Services were worth $51,313,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. FMR LLC increased its position in PennyMac Financial Services by 231.9% in the 3rd quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock valued at $133,003,000 after acquiring an additional 815,389 shares during the period. JPMorgan Chase & Co. increased its position in PennyMac Financial Services by 2.3% in the 3rd 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 during the period. State Street Corp increased its position 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 acquiring an additional 51,777 shares during the period. Geode Capital Management LLC increased its position in PennyMac Financial Services by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust’s stock valued at $73,841,000 after acquiring an additional 19,662 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in PennyMac Financial Services by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 453,810 shares of the real estate investment trust’s stock valued at $46,352,000 after acquiring an additional 6,459 shares during the period. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PennyMac Financial Services

In other news, CEO David Spector sold 61,120 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $101.72, for a total value of $6,217,126.40. Following the completion of the sale, the chief executive officer now owns 634,612 shares in the company, valued at $64,552,732.64. This represents a 8.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James Follette sold 1,983 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total transaction of $198,161.19. Following the completion of the sale, the insider now owns 10,497 shares of the company’s stock, valued at approximately $1,048,965.21. This represents a 15.89 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 150,697 shares of company stock valued at $15,327,924. Corporate insiders own 16.60% of the company’s stock.

PennyMac Financial Services Stock Up 0.5 %

Shares of NYSE PFSI opened at $99.56 on Thursday. The firm has a market cap of $5.12 billion, a PE ratio of 17.05, a P/E/G ratio of 0.19 and a beta of 1.90. PennyMac Financial Services, Inc. has a 12-month low of $83.03 and a 12-month high of $119.13. The company’s fifty day simple moving average is $103.04 and its 200 day simple moving average is $104.84. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. As a group, sell-side analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were paid a $0.30 dividend. 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 20.55%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PFSI. 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 analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.