Lightrock Netherlands B.V. Acquires Shares of 87,743 PennyMac Financial Services, Inc. (NYSE:PFSI)

Lightrock Netherlands B.V. purchased a new stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 87,743 shares of the real estate investment trust's stock, valued at approximately $9,006,000. PennyMac Financial Services comprises about 3.2% of Lightrock Netherlands B.V.'s investment portfolio, making the stock its 12th largest holding. Lightrock Netherlands B.V. owned about 0.17% of PennyMac Financial Services as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in PennyMac Financial Services in the 3rd quarter valued at about $37,000. Blue Trust Inc. boosted its position in PennyMac Financial Services by 59.5% in 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 shares of PennyMac Financial Services by 20.3% in the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust's stock worth $153,000 after purchasing an additional 226 shares during the period. Quantbot Technologies LP lifted its position in shares of 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 purchasing an additional 290 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in shares of PennyMac Financial Services in the 3rd quarter worth approximately $203,000. 57.87% of the stock is currently owned by institutional investors.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock traded up $0.76 during mid-day trading on Friday, reaching $101.79. 248,015 shares of the company traded hands, compared to its average volume of 354,067. The company has a market capitalization of $5.22 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 0.20 and a beta of 1.78. PennyMac Financial Services, Inc. has a fifty-two week low of $83.03 and a fifty-two week high of $119.13. The firm's fifty day moving average is $103.92 and its two-hundred day moving average is $104.60. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share 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%. On average, equities research analysts expect 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. Stockholders of record on Thursday, February 13th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.18%. PennyMac Financial Services's payout ratio is currently 20.55%.

Analyst Upgrades and Downgrades

Several equities research analysts have 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 research report on Friday, January 31st. Wedbush reaffirmed an "outperform" rating and issued a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Wells Fargo & Company upped their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods reduced 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 note on Tuesday, December 10th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $122.17.

Insider Transactions at PennyMac Financial Services

In related news, Director Doug Jones sold 23,229 shares of the stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $101.51, for a total transaction of $2,357,975.79. Following the sale, the director now directly owns 23,892 shares of the company's stock, valued at approximately $2,425,276.92. This represents a 49.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO David Spector sold 61,120 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $101.72, for a total transaction of $6,217,126.40. Following the sale, the chief executive officer now directly owns 634,612 shares in the company, valued at $64,552,732.64. This trade represents a 8.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,344 shares of company stock worth $12,979,181 over the last 90 days. 16.60% of the stock is currently owned by company insiders.

PennyMac Financial Services 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.