Norges Bank Invests $38 Million in PennyMac Financial Services, Inc. (NYSE:PFSI)

Norges Bank acquired a new stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 372,074 shares of the real estate investment trust's stock, valued at approximately $38,004,000. Norges Bank owned approximately 0.73% of PennyMac Financial Services at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PFSI. 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 valued at $294,835,000 after purchasing an additional 199,667 shares during the last quarter. Boston Partners boosted its holdings in 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 valued at $51,313,000 after purchasing an additional 165,997 shares during the last quarter. Lightrock Netherlands B.V. acquired a new position in PennyMac Financial Services in the 4th quarter valued at about $9,006,000. State Street Corp boosted its holdings in 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 purchasing an additional 51,777 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of PennyMac Financial Services by 505.4% in the 3rd quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust's stock worth $6,859,000 after acquiring an additional 50,238 shares during the last quarter. Hedge funds and other institutional investors own 57.87% of the company's stock.

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Insider Transactions at PennyMac Financial Services

In other PennyMac Financial Services news, CRO Abbie Tidmore sold 2,669 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $102.55, for a total transaction of $273,705.95. Following the transaction, the executive now directly owns 4,878 shares of the company's stock, valued at $500,238.90. The trade was a 35.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark Elbaum sold 410 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, April 4th. The shares were sold at an average price of $102.88, for a total transaction of $42,180.80. Following the transaction, the insider now directly owns 4,207 shares in the company, valued at approximately $432,816.16. This trade represents a 8.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,464 shares of company stock worth $4,540,867 over the last ninety days. 16.60% of the stock is currently owned by corporate insiders.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock traded down $3.50 during midday trading on Thursday, hitting $90.98. 38,967 shares of the company's stock were exchanged, compared to its average volume of 372,565. PennyMac Financial Services, Inc. has a 12-month low of $83.03 and a 12-month high of $119.13. The stock has a market cap of $4.68 billion, a price-to-earnings ratio of 15.58, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. The firm's 50 day simple moving average is $100.56 and its 200 day simple moving average is $103.55.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 EPS 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%. Equities research analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.32%. PennyMac Financial Services's dividend payout ratio (DPR) is presently 20.55%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PFSI. Piper Sandler decreased their price objective on shares of PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating on the stock in a report on Friday, January 31st. Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price objective on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, PennyMac Financial Services has an average rating of "Moderate Buy" and an average price target of $122.67.

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.