Northwest & Ethical Investments L.P. Has $266,000 Stock Holdings in PennyMac Financial Services, Inc. (NYSE:PFSI)

Northwest & Ethical Investments L.P. lifted its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 38.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,330 shares of the real estate investment trust’s stock after purchasing an additional 645 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in PennyMac Financial Services were worth $266,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Harbor Capital Advisors Inc. acquired a new position in PennyMac Financial Services during the third quarter worth $37,000. Blue Trust Inc. boosted its stake in shares of PennyMac Financial Services by 1,529.6% during the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 413 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of PennyMac Financial Services by 29.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 109 shares during the last quarter. KBC Group NV raised its stake in shares of PennyMac Financial Services by 20.3% in the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 226 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in PennyMac Financial Services by 23.7% in the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 290 shares during the last quarter. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Stock Performance

NYSE:PFSI opened at $107.13 on Friday. The firm’s 50-day moving average is $105.96 and its 200-day moving average is $100.69. The company has a market cap of $5.49 billion, a price-to-earnings ratio of 34.01 and a beta of 1.79. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. PennyMac Financial Services, Inc. has a 52-week low of $77.08 and a 52-week high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The firm had revenue of $411.83 million during the quarter, compared to analyst estimates of $513.12 million. During the same period last year, the company earned $1.77 EPS. The company’s revenue was up 2.9% on a year-over-year basis. Equities research analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were paid a dividend of $0.30 per share. The ex-dividend date was Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.12%. PennyMac Financial Services’s dividend payout ratio is currently 38.10%.

Analysts Set New Price Targets

PFSI has been the topic of several analyst reports. Piper Sandler increased their price target on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised their target price on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Barclays boosted their target price on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, PennyMac Financial Services presently has an average rating of “Moderate Buy” and an average price target of $115.86.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, insider Steven Richard Bailey sold 14,130 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the completion of the transaction, the insider now directly owns 14,670 shares in the company, valued at $1,714,629.60. This represents a 49.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Daniel Stanley Perotti sold 10,500 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $112.93, for a total transaction of $1,185,765.00. Following the completion of the sale, the chief financial officer now owns 235,997 shares in the company, valued at $26,651,141.21. This represents a 4.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 68,162 shares of company stock valued at $7,491,026 in the last 90 days. 16.60% of the stock is currently owned by company insiders.

PennyMac Financial Services Company 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.