PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 48.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 320,250 shares of the real estate investment trust’s stock after purchasing an additional 104,022 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in PennyMac Financial Services were worth $32,710,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of PennyMac Financial Services in the fourth quarter worth about $38,004,000. Vanguard Group Inc. boosted its holdings in PennyMac Financial Services by 7.4% in the 4th quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust’s stock worth $294,835,000 after acquiring an additional 199,667 shares during the period. Boston Partners grew its position in PennyMac Financial Services by 50.1% in the fourth quarter. Boston Partners now owns 497,080 shares of the real estate investment trust’s stock valued at $51,313,000 after acquiring an additional 165,997 shares in the last quarter. Lightrock Netherlands B.V. purchased a new stake in shares of PennyMac Financial Services during the fourth quarter valued at approximately $9,006,000. Finally, State Street Corp lifted its position in shares of PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after purchasing an additional 51,777 shares in the last quarter. 57.87% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

PennyMac Financial Services Price Performance

Shares of PFSI stock opened at $103.52 on Monday. The firm has a fifty day moving average of $102.33 and a two-hundred day moving average of $104.09. The firm has a market cap of $5.32 billion, a P/E ratio of 17.73, a P/E/G ratio of 0.19 and a beta of 1.73. PennyMac Financial Services, Inc. has a 1-year low of $83.03 and a 1-year high of $119.13. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38.

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

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.16%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 20.55%.

Insiders Place Their Bets

In other news, insider James Follette sold 1,983 shares of the company’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $99.93, for a total transaction of $198,161.19. Following the completion of the transaction, the insider now directly owns 10,497 shares of the company’s stock, valued at approximately $1,048,965.21. This represents a 15.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Spector sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $103.44, for a total value of $517,200.00. Following the completion of the sale, the chief executive officer now directly owns 150,604 shares in the company, valued at approximately $15,578,477.76. This trade represents a 3.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,054 shares of company stock valued at $4,995,586 over the last 90 days. 16.60% of the stock is owned by company insiders.

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.