PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Bought by Invesco Ltd.

Invesco Ltd. lifted its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 0.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,183,458 shares of the real estate investment trust’s stock after buying an additional 3,527 shares during the quarter. Invesco Ltd. owned about 2.31% of PennyMac Financial Services worth $120,878,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PFSI. Norges Bank acquired a new stake in shares of PennyMac Financial Services in the fourth quarter valued at approximately $38,004,000. Vanguard Group Inc. raised its position 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 stake in PennyMac Financial Services by 50.1% during the 4th quarter. Boston Partners now owns 497,080 shares of the real estate investment trust’s stock worth $51,313,000 after purchasing an additional 165,997 shares during the period. FMR LLC grew its position in PennyMac Financial Services by 11.9% during the 4th quarter. FMR LLC now owns 1,305,851 shares of the real estate investment trust’s stock worth $133,380,000 after purchasing an additional 138,853 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in PennyMac Financial Services by 48.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 320,250 shares of the real estate investment trust’s stock valued at $32,710,000 after purchasing an additional 104,022 shares during the period. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Trading Up 4.8 %

Shares of PFSI stock opened at $93.53 on Friday. PennyMac Financial Services, Inc. has a 1-year low of $83.03 and a 1-year high of $119.13. The firm’s 50-day simple moving average is $100.09 and its 200-day simple moving average is $103.26. The firm has a market cap of $4.81 billion, a P/E ratio of 16.02, a PEG ratio of 0.19 and a beta of 1.73. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results 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 return on equity of 16.61% and a net margin of 19.54%. As a group, equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were paid a $0.30 dividend. 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 1.28%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 20.55%.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, insider James Follette sold 1,983 shares of PennyMac Financial Services stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $99.93, for a total transaction of $198,161.19. Following the sale, the insider now directly owns 10,497 shares in the company, valued at $1,048,965.21. The trade was a 15.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock in a transaction on Friday, February 14th. The stock was sold at an average price of $101.49, for a total transaction of $1,065,645.00. Following the completion of the sale, the chief financial officer now owns 214,997 shares of the company’s stock, valued at approximately $21,820,045.53. This trade represents a 4.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,464 shares of company stock worth $4,540,867. 16.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Piper Sandler reduced their price objective on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price target for the company in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat, PennyMac Financial Services currently has an average rating of “Moderate Buy” and an average target price of $122.67.

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.