American Century Companies Inc. Grows Stock Holdings in PennyMac Financial Services, Inc. $PFSI

American Century Companies Inc. increased its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 15.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 399,388 shares of the real estate investment trust’s stock after buying an additional 52,227 shares during the quarter. American Century Companies Inc. owned about 0.77% of PennyMac Financial Services worth $39,795,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. CWM LLC raised its position in shares of PennyMac Financial Services by 71.5% in the 1st quarter. CWM LLC now owns 271 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 113 shares during the period. Strs Ohio purchased a new position in shares of PennyMac Financial Services in the 1st quarter worth about $30,000. Bayforest Capital Ltd acquired a new position in shares of PennyMac Financial Services in the 2nd quarter valued at about $62,000. MQS Management LLC purchased a new stake in shares of PennyMac Financial Services during the 2nd quarter worth about $208,000. Finally, AlphaQuest LLC grew its holdings in shares of PennyMac Financial Services by 4.4% during the 1st quarter. AlphaQuest LLC now owns 2,587 shares of the real estate investment trust’s stock worth $259,000 after purchasing an additional 110 shares during the period. 57.87% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 8,775 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $126.67, for a total transaction of $1,111,529.25. Following the transaction, the chief financial officer owned 216,475 shares of the company’s stock, valued at approximately $27,420,888.25. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Doug Jones sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $132.63, for a total transaction of $2,652,600.00. Following the transaction, the director owned 430,000 shares in the company, valued at $57,030,900. This represents a 4.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 218,374 shares of company stock valued at $28,024,891 over the last three months. Corporate insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PFSI shares. Piper Sandler lifted their target price on shares of PennyMac Financial Services from $136.00 to $140.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Wells Fargo & Company raised their price objective on PennyMac Financial Services from $115.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Keefe, Bruyette & Woods boosted their price objective on PennyMac Financial Services from $129.00 to $138.00 and gave the stock a “market perform” rating in a research note on Friday, October 24th. BTIG Research reaffirmed a “buy” rating and issued a $135.00 target price on shares of PennyMac Financial Services in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of PennyMac Financial Services in a research note on Friday, October 31st. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, PennyMac Financial Services currently has a consensus rating of “Moderate Buy” and an average target price of $138.67.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI opened at $134.57 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 3.01. PennyMac Financial Services, Inc. has a twelve month low of $85.74 and a twelve month high of $136.62. The business has a 50 day simple moving average of $124.93 and a 200-day simple moving average of $110.60. The company has a market capitalization of $6.99 billion, a price-to-earnings ratio of 14.50 and a beta of 1.56.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.98 by $0.39. PennyMac Financial Services had a net margin of 25.21% and a return on equity of 11.69%. The company had revenue of $632.90 million for the quarter, compared to analysts’ expectations of $573.46 million. During the same period in the prior year, the company earned $1.30 earnings per share. The firm’s revenue was up 53.7% compared to the same quarter last year. As a group, equities research analysts expect that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th were given a $0.30 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.20 annualized dividend and a yield of 0.9%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 12.93%.

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.