Boston Partners Sells 9,302 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Boston Partners lessened its position in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 2.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 310,321 shares of the real estate investment trust’s stock after selling 9,302 shares during the period. Boston Partners owned approximately 0.61% of PennyMac Financial Services worth $28,103,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. USA Financial Formulas acquired a new position in PennyMac Financial Services during the 4th quarter worth approximately $25,000. Hexagon Capital Partners LLC increased its position in PennyMac Financial Services by 128.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 205 shares in the last quarter. Parkside Financial Bank & Trust acquired a new position in PennyMac Financial Services during the 4th quarter worth approximately $36,000. TFO Wealth Partners LLC increased its position in PennyMac Financial Services by 16,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 1,141 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in PennyMac Financial Services during the 1st quarter worth approximately $202,000. Institutional investors own 57.87% of the company’s stock.

Insider Activity at PennyMac Financial Services

In related news, CEO David Spector sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $93.16, for a total transaction of $931,600.00. Following the completion of the transaction, the chief executive officer now owns 240,604 shares of the company’s stock, valued at $22,414,668.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other PennyMac Financial Services news, CEO David Spector sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $93.16, for a total value of $931,600.00. Following the completion of the transaction, the chief executive officer now owns 240,604 shares of the company’s stock, valued at approximately $22,414,668.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Doug Jones sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $91.49, for a total transaction of $2,744,700.00. Following the completion of the transaction, the director now directly owns 480,000 shares of the company’s stock, valued at approximately $43,915,200. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,400 shares of company stock valued at $6,551,300. Corporate insiders own 16.60% of the company’s stock.

PennyMac Financial Services Stock Up 2.8 %

PennyMac Financial Services stock traded up $2.67 during midday trading on Friday, hitting $97.99. 717,583 shares of the stock were exchanged, compared to its average volume of 319,634. PennyMac Financial Services, Inc. has a 52-week low of $62.15 and a 52-week high of $105.94. The stock has a market capitalization of $4.99 billion, a price-to-earnings ratio of 34.02, a price-to-earnings-growth ratio of 0.62 and a beta of 1.72. The business’s 50-day moving average price is $94.42 and its 200-day moving average price is $90.69. The company has a quick ratio of 0.39, a current ratio of 0.37 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.80). The company had revenue of $406.13 million during the quarter, compared to the consensus estimate of $469.64 million. PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The business’s revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.11 EPS. On average, research analysts expect that PennyMac Financial Services, Inc. will post 10.54 EPS for the current fiscal year.

PennyMac Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.22%. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. PennyMac Financial Services’s payout ratio is 27.78%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price target on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Keefe, Bruyette & Woods downgraded shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 target price for the company. in a research note on Monday, July 22nd. Wedbush lifted their target price on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Piper Sandler lifted their target price on shares of PennyMac Financial Services from $110.00 to $112.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Barclays lifted their target price on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $107.17.

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.