4,600 Shares in PennyMac Financial Services, Inc. (NYSE:PFSI) Acquired by Natixis

Natixis purchased a new stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,600 shares of the real estate investment trust's stock, valued at approximately $470,000.

A number of other hedge funds have also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of PennyMac Financial Services in the 4th quarter valued at approximately $38,004,000. Vanguard Group Inc. lifted its stake in PennyMac Financial Services by 7.4% in the fourth quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust's stock valued at $294,835,000 after buying an additional 199,667 shares during the last quarter. Boston Partners increased its holdings in shares of PennyMac Financial Services by 50.1% in the 4th quarter. Boston Partners now owns 497,080 shares of the real estate investment trust's stock worth $51,313,000 after acquiring an additional 165,997 shares during the period. FMR LLC raised its holdings in shares of PennyMac Financial Services by 11.9% during the fourth quarter. FMR LLC now owns 1,305,851 shares of the real estate investment trust's stock valued at $133,380,000 after buying an additional 138,853 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in PennyMac Financial Services by 48.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 320,250 shares of the real estate investment trust's stock worth $32,710,000 after acquiring an additional 104,022 shares during the period. Institutional investors and hedge funds own 57.87% of the company's stock.

Insider Activity at PennyMac Financial Services

In other news, insider James Follette sold 1,983 shares of the firm's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $99.93, for a total value of $198,161.19. Following the completion of the sale, the insider now directly owns 10,497 shares in the company, valued at approximately $1,048,965.21. This trade represents a 15.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CRO Abbie Tidmore sold 2,669 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $102.55, for a total transaction of $273,705.95. Following the sale, the executive now directly owns 4,878 shares in the company, valued at approximately $500,238.90. This represents a 35.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,464 shares of company stock valued at $4,540,867 in the last 90 days. 16.60% of the stock is owned by corporate insiders.

PennyMac Financial Services Stock Performance

Shares of NYSE:PFSI traded up $1.17 during trading on Monday, reaching $94.77. The stock had a trading volume of 312,418 shares, compared to its average volume of 304,415. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22. The stock has a fifty day simple moving average of $98.69 and a two-hundred day simple moving average of $102.24. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 0.19 and a beta of 1.73. PennyMac Financial Services, Inc. has a 52 week low of $84.93 and a 52 week high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share for the quarter, missing the consensus estimate of $2.99 by ($1.57). The business had revenue of $430.90 million during the quarter, compared to the consensus estimate of $520.42 million. PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. During the same period in the prior year, the company posted $0.74 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Wednesday, May 14th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date is Wednesday, May 14th. PennyMac Financial Services's dividend payout ratio is 18.40%.

Analyst Upgrades and Downgrades

PFSI has been the subject of several recent analyst reports. Piper Sandler decreased their price objective on shares of PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Wells Fargo & Company reduced their price objective on shares of PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday. Keefe, Bruyette & Woods raised PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 target price for the company in a research report on Tuesday, April 8th. Finally, UBS Group reduced their price target on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, PennyMac Financial Services has an average rating of "Moderate Buy" and a consensus target price of $121.17.

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.