KLP Kapitalforvaltning AS Makes New Investment in PennyMac Financial Services, Inc. (NYSE:PFSI)

KLP Kapitalforvaltning AS acquired a new stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,400 shares of the real estate investment trust's stock, valued at approximately $654,000.

Several other hedge funds have also made changes to their positions in PFSI. FMR LLC raised its holdings 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 in the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new position in shares of PennyMac Financial Services in the third quarter valued at $21,890,000. Boston Partners boosted its stake in PennyMac Financial Services by 50.1% during the fourth quarter. Boston Partners now owns 497,080 shares of the real estate investment trust's stock worth $51,313,000 after buying an additional 165,997 shares in the last quarter. Lightrock Netherlands B.V. bought a new stake in PennyMac Financial Services in the 4th quarter valued at $9,006,000. Finally, State Street Corp raised its stake in shares of 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 buying an additional 51,777 shares in the last quarter. Institutional investors own 57.87% of the company's stock.

Analyst Ratings Changes

PFSI has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating on the stock in a research note on Tuesday, December 10th. Piper Sandler decreased their price objective on PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, PennyMac Financial Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $122.17.

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PennyMac Financial Services Price Performance

PFSI stock traded down $0.80 during trading on Thursday, hitting $102.82. 676,266 shares of the stock traded hands, compared to its average volume of 283,449. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 17.61, a P/E/G ratio of 0.19 and a beta of 1.90. PennyMac Financial Services, Inc. has a one year low of $83.03 and a one year high of $119.13. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The company has a 50 day simple moving average of $102.45 and a 200 day simple moving average of $104.35.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its earnings results 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%. Equities analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS 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 yield of 1.17%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services's dividend payout ratio is currently 20.55%.

Insider Transactions at PennyMac Financial Services

In other news, CFO Daniel Stanley Perotti sold 10,500 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $101.49, for a total transaction of $1,065,645.00. Following the transaction, the chief financial officer now directly owns 214,997 shares in the company, valued at approximately $21,820,045.53. This represents a 4.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Spector sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $99.38, for a total transaction of $496,900.00. Following the sale, the chief executive officer now directly owns 165,604 shares in the company, valued at $16,457,725.52. This trade represents a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,054 shares of company stock worth $4,995,586. Insiders own 16.60% of the company's stock.

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.