PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Acquired by Boston Partners

Boston Partners lifted its stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 50.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm 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 approximately 0.97% of PennyMac Financial Services worth $51,313,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PFSI. State Street Corp raised its holdings in 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 during the last quarter. JPMorgan Chase & Co. raised its stake in shares of PennyMac Financial Services by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust's stock worth $108,809,000 after buying an additional 21,751 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of PennyMac Financial Services in the 3rd quarter worth about $614,000. Charles Schwab Investment Management Inc. boosted its position in shares of 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 worth $46,352,000 after buying an additional 6,459 shares in the last quarter. Finally, HighTower Advisors LLC acquired a new stake in PennyMac Financial Services in the 3rd quarter valued at about $702,000. Institutional investors and hedge funds own 57.87% of the company's stock.

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Insider Activity

In other news, insider James Follette sold 1,983 shares of the company's stock in a transaction 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 sale, the insider now directly owns 10,497 shares in the company, valued at $1,048,965.21. This represents a 15.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Doug Jones sold 8,373 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $102.95, for a total value of $862,000.35. Following the completion of the transaction, the director now directly owns 19,056 shares in the company, valued at $1,961,815.20. This trade represents a 30.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,496 shares of company stock valued at $7,375,763 in the last 90 days. 16.60% of the stock is currently owned by insiders.

PennyMac Financial Services Trading Up 2.1 %

Shares of NYSE:PFSI traded up $2.16 during trading on Monday, reaching $103.17. The stock had a trading volume of 227,554 shares, compared to its average volume of 266,918. PennyMac Financial Services, Inc. has a fifty-two week low of $83.03 and a fifty-two week high of $119.13. The business has a fifty day moving average price of $103.18 and a 200-day moving average price of $104.75. The stock has a market cap of $5.31 billion, a P/E ratio of 17.67, a PEG ratio of 0.19 and a beta of 1.90. 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 - Get Free Report) last issued its quarterly earnings results 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, analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services's dividend payout ratio (DPR) is 20.55%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PFSI shares. Keefe, Bruyette & Woods reduced their price target on shares of 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. Piper Sandler reduced their target price on PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus 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.