Natixis Invests $470,000 in PennyMac Financial Services, Inc. (NYSE:PFSI)

Natixis purchased a new position in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 added to or reduced their stakes in the company. Sterling Capital Management LLC grew its stake in PennyMac Financial Services by 601.8% in the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock valued at $41,000 after buying an additional 343 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of PennyMac Financial Services by 54.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust's stock worth $112,000 after acquiring an additional 389 shares during the last quarter. KBC Group NV boosted its holdings in shares of PennyMac Financial Services by 15.6% in the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust's stock worth $158,000 after purchasing an additional 209 shares in the last quarter. Polymer Capital Management US LLC purchased a new stake in PennyMac Financial Services in the fourth quarter worth approximately $217,000. Finally, Cibc World Markets Corp bought a new position in shares of PennyMac Financial Services during the 4th quarter valued at $255,000. Institutional investors and hedge funds own 57.87% of the company's stock.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI traded up $1.43 during midday trading on Wednesday, hitting $97.43. 321,906 shares of the stock traded hands, compared to its average volume of 304,695. PennyMac Financial Services, Inc. has a one year low of $84.93 and a one year high of $119.13. The firm has a market capitalization of $5.01 billion, a P/E ratio of 16.68, a PEG 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 has a 50-day moving average of $98.37 and a two-hundred day moving average of $102.09.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.99 by ($1.57). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. The business had revenue of $430.90 million for the quarter, compared to the consensus estimate of $520.42 million. During the same period last year, the business posted $0.74 EPS. On average, equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Wednesday, May 14th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Wednesday, May 14th. PennyMac Financial Services's dividend payout ratio (DPR) is presently 18.40%.

Insider Activity at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 5,000 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $103.44, for a total value of $517,200.00. Following the transaction, the chief executive officer now owns 150,604 shares of the company's stock, valued at $15,578,477.76. This represents a 3.21 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 214,997 shares in the company, valued at approximately $21,820,045.53. This trade represents a 4.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,464 shares of company stock valued at $4,540,867. Insiders own 16.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PFSI. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 target price for the company in a report on Tuesday, April 8th. Piper Sandler lowered 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. UBS Group dropped their target price on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Finally, Wells Fargo & Company cut their price target on PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $121.17.

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.