KBC Group NV Purchases 226 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

KBC Group NV boosted its position in PennyMac Financial Services, Inc. (NYSE:PFSI) by 20.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,340 shares of the real estate investment trust’s stock after purchasing an additional 226 shares during the period. KBC Group NV’s holdings in PennyMac Financial Services were worth $153,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in shares of PennyMac Financial Services by 91.3% in the 1st quarter. Russell Investments Group Ltd. now owns 19,246 shares of the real estate investment trust’s stock valued at $1,753,000 after buying an additional 9,183 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of PennyMac Financial Services by 0.3% in the first quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust’s stock worth $238,509,000 after acquiring an additional 8,345 shares during the period. Maverick Capital Ltd. boosted its holdings in PennyMac Financial Services by 263.8% in the second quarter. Maverick Capital Ltd. now owns 12,904 shares of the real estate investment trust’s stock valued at $1,221,000 after acquiring an additional 9,357 shares during the last quarter. American Century Companies Inc. increased its position in PennyMac Financial Services by 13.2% during the 2nd quarter. American Century Companies Inc. now owns 347,979 shares of the real estate investment trust’s stock valued at $32,919,000 after purchasing an additional 40,676 shares during the period. Finally, Edgestream Partners L.P. raised its holdings in PennyMac Financial Services by 256.9% during the 2nd quarter. Edgestream Partners L.P. now owns 84,861 shares of the real estate investment trust’s stock worth $8,028,000 after purchasing an additional 61,087 shares during the last quarter. 57.87% of the stock is currently owned by institutional investors.

PennyMac Financial Services Stock Down 2.1 %

Shares of NYSE PFSI opened at $102.72 on Thursday. The firm’s fifty day moving average is $107.10 and its 200 day moving average is $100.06. PennyMac Financial Services, Inc. has a 52 week low of $76.57 and a 52 week high of $119.13. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The company has a market cap of $5.27 billion, a price-to-earnings ratio of 32.61 and a beta of 1.79.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (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 business had revenue of $411.83 million for the quarter, compared to analysts’ expectations of $513.12 million. During the same period last year, the firm posted $1.77 earnings per share. PennyMac Financial Services’s quarterly revenue was up 2.9% on a year-over-year basis. On average, equities research analysts expect 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 announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Monday, November 18th. PennyMac Financial Services’s payout ratio is 38.10%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lifted their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Piper Sandler boosted their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Barclays increased 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 note 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 note 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 company’s stock. Based on data from MarketBeat, PennyMac Financial Services presently has an average rating of “Moderate Buy” and a consensus target price of $115.86.

Insider Transactions at PennyMac Financial Services

In related news, CFO Daniel Stanley Perotti sold 10,500 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $100.02, for a total transaction of $1,050,210.00. Following the completion of the sale, the chief financial officer now directly owns 225,497 shares in the company, valued at approximately $22,554,209.94. The trade was a 4.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO David Spector sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $116.79, for a total value of $1,167,900.00. Following the transaction, the chief executive officer now owns 200,604 shares of the company’s stock, valued at approximately $23,428,541.16. This trade represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 88,959 shares of company stock worth $9,639,212 over the last quarter. 16.60% of the stock is currently owned by insiders.

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.