Boston Partners Acquires Shares of 319,623 PennyMac Financial Services, Inc. (NYSE:PFSI)

Boston Partners purchased a new position in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 319,623 shares of the real estate investment trust's stock, valued at approximately $28,191,000. Boston Partners owned approximately 0.64% of PennyMac Financial Services at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. USA Financial Formulas acquired a new position in PennyMac Financial Services in the fourth quarter valued at approximately $25,000. Hexagon Capital Partners LLC increased its position in shares of 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 during the last quarter. Parkside Financial Bank & Trust purchased a new stake in PennyMac Financial Services in the 4th quarter valued at about $36,000. Saxon Interests Inc. purchased a new stake in PennyMac Financial Services during the 4th quarter worth approximately $208,000. Finally, Foster & Motley Inc. acquired a new stake in PennyMac Financial Services during the 4th quarter worth approximately $234,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO David Spector sold 26,451 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $86.05, for a total transaction of $2,276,108.55. Following the completion of the sale, the chief executive officer now owns 647,938 shares in the company, valued at approximately $55,755,064.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other PennyMac Financial Services news, CEO David Spector sold 26,451 shares of the company's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $86.05, for a total transaction of $2,276,108.55. Following the completion of the sale, the chief executive officer now directly owns 647,938 shares of the company's stock, valued at approximately $55,755,064.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph F. Mazzella sold 16,465 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $90.73, for a total value of $1,493,869.45. Following the completion of the transaction, the director now owns 116,546 shares in the company, valued at $10,574,218.58. The disclosure for this sale can be found here. Insiders have sold 104,267 shares of company stock valued at $9,159,977 in the last ninety days. 16.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PFSI. Keefe, Bruyette & Woods cut their price objective on PennyMac Financial Services from $105.00 to $100.00 and set an "outperform" rating on the stock in a research report on Friday, April 26th. Deutsche Bank Aktiengesellschaft decreased their price objective on 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. Wedbush restated an "outperform" rating and set a $110.00 target price on shares of PennyMac Financial Services in a research note on Thursday, April 25th. Barclays boosted their price target on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an "overweight" rating in a report on Tuesday, April 9th. Finally, StockNews.com upgraded shares of PennyMac Financial Services from a "sell" rating to a "hold" rating in a report on Monday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, PennyMac Financial Services has a consensus rating of "Moderate Buy" and a consensus target price of $97.75.

PennyMac Financial Services Stock Performance

PFSI traded up $2.57 on Wednesday, reaching $93.93. The company had a trading volume of 203,631 shares, compared to its average volume of 242,695. The company has a quick ratio of 0.39, a current ratio of 0.39 and a debt-to-equity ratio of 2.33. PennyMac Financial Services, Inc. has a 1 year low of $58.65 and a 1 year high of $94.78. The stock has a market capitalization of $4.78 billion, a PE ratio of 32.61, a P/E/G ratio of 0.59 and a beta of 1.68. The stock has a 50-day moving average price of $89.01 and a 200-day moving average price of $85.42.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share for the quarter, beating the consensus estimate of $2.34 by $0.14. The business had revenue of $305.66 million during the quarter, compared to the consensus estimate of $422.87 million. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. As a group, research analysts forecast that PennyMac Financial Services, Inc. will post 10.55 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.20 per share. The ex-dividend date is Monday, May 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.85%. PennyMac Financial Services's dividend payout ratio (DPR) is presently 27.78%.

PennyMac Financial Services 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.