Invesco Ltd. Boosts Stock Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Invesco Ltd. boosted its position in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,183,458 shares of the real estate investment trust's stock after acquiring an additional 3,527 shares during the period. Invesco Ltd. owned 2.31% of PennyMac Financial Services worth $120,878,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. KBC Group NV increased its holdings in PennyMac Financial Services by 15.6% during the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust's stock valued at $158,000 after purchasing an additional 209 shares during the period. Dakota Wealth Management raised its holdings in shares of PennyMac Financial Services by 2.6% during the fourth quarter. Dakota Wealth Management now owns 14,578 shares of the real estate investment trust's stock valued at $1,489,000 after acquiring an additional 374 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in PennyMac Financial Services by 54.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust's stock valued at $112,000 after acquiring an additional 389 shares in the last quarter. Rhumbline Advisers increased its position in PennyMac Financial Services by 1.0% during the 4th quarter. Rhumbline Advisers now owns 41,529 shares of the real estate investment trust's stock valued at $4,242,000 after purchasing an additional 414 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its position in shares of PennyMac Financial Services by 4.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 20,017 shares of the real estate investment trust's stock worth $2,045,000 after purchasing an additional 766 shares during the period. 57.87% of the stock is owned by institutional investors.

PennyMac Financial Services Stock Up 1.5 %

Shares of PennyMac Financial Services stock traded up $1.48 on Friday, reaching $97.05. The company's stock had a trading volume of 345,481 shares, compared to its average volume of 302,119. PennyMac Financial Services, Inc. has a 52 week low of $83.03 and a 52 week high of $119.13. The firm's fifty day simple moving average is $99.47 and its two-hundred day simple moving average is $102.87. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 16.62, a P/E/G ratio of 0.19 and a beta of 1.73.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released 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 return on equity of 16.61% and a net margin of 19.54%. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The business also recently disclosed 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 was Thursday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.24%. PennyMac Financial Services's payout ratio is 20.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods raised shares of 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. Piper Sandler dropped 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 research note on Friday, January 31st. Finally, UBS Group decreased their target price on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.86.

Insider Activity at PennyMac Financial Services

In related news, insider James Follette sold 1,983 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total value of $198,161.19. Following the transaction, the insider now owns 10,497 shares of the company's stock, valued at approximately $1,048,965.21. This trade represents a 15.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David Spector sold 6,839 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $102.12, for a total transaction of $698,398.68. Following the sale, the chief executive officer now directly owns 635,554 shares of the company's stock, valued at approximately $64,902,774.48. This represents a 1.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,464 shares of company stock worth $4,540,867 over the last quarter. Company insiders own 16.60% of the company's stock.

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.