PennyMac Financial Services, Inc. $PFSI Shares Acquired by American Century Companies Inc.

American Century Companies Inc. raised its stake in PennyMac Financial Services, Inc. (NYSE:PFSI) by 7.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 429,403 shares of the real estate investment trust’s stock after purchasing an additional 30,015 shares during the period. American Century Companies Inc. owned 0.83% of PennyMac Financial Services worth $53,195,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PFSI. AQR Capital Management LLC raised its stake in PennyMac Financial Services by 3.8% during the first quarter. AQR Capital Management LLC now owns 24,012 shares of the real estate investment trust’s stock valued at $2,404,000 after buying an additional 875 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of PennyMac Financial Services by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,923 shares of the real estate investment trust’s stock valued at $1,594,000 after acquiring an additional 706 shares during the last quarter. Intech Investment Management LLC increased its holdings in shares of PennyMac Financial Services by 5.8% in the 1st quarter. Intech Investment Management LLC now owns 15,382 shares of the real estate investment trust’s stock valued at $1,540,000 after acquiring an additional 840 shares during the last quarter. Strs Ohio acquired a new stake in shares of PennyMac Financial Services during the 1st quarter valued at approximately $30,000. Finally, Teacher Retirement System of Texas lifted its stake in PennyMac Financial Services by 4.2% during the second quarter. Teacher Retirement System of Texas now owns 4,687 shares of the real estate investment trust’s stock worth $467,000 after purchasing an additional 191 shares during the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

Insider Buying and Selling at PennyMac Financial Services

In related news, CEO David Spector sold 10,000 shares of the company’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $94.50, for a total transaction of $945,000.00. Following the transaction, the chief executive officer directly owned 90,604 shares of the company’s stock, valued at approximately $8,562,078. The trade was a 9.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Gregory L. Hendry sold 3,530 shares of PennyMac Financial Services stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $131.64, for a total transaction of $464,689.20. Following the sale, the chief accounting officer directly owned 48,633 shares of the company’s stock, valued at $6,402,048.12. This trade represents a 6.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 37,374 shares of company stock valued at $4,329,946 in the last ninety days. Company insiders own 15.80% of the company’s stock.

PennyMac Financial Services Trading Down 2.2%

Shares of PennyMac Financial Services stock opened at $88.71 on Friday. The business has a fifty day simple moving average of $118.43 and a 200-day simple moving average of $121.92. PennyMac Financial Services, Inc. has a fifty-two week low of $85.74 and a fifty-two week high of $160.36. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 9.54, a price-to-earnings-growth ratio of 0.51 and a beta of 1.56. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 3.32.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $1.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.23 by ($1.26). The business had revenue of $538.01 million during the quarter, compared to analyst estimates of $639.81 million. PennyMac Financial Services had a return on equity of 10.20% and a net margin of 24.48%.The business’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.95 EPS. On average, equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Stockholders of record on Monday, February 16th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, February 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is 12.90%.

Analysts Set New Price Targets

PFSI has been the topic of a number of research reports. Weiss Ratings cut shares of PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, January 20th. Piper Sandler dropped their price objective on shares of PennyMac Financial Services from $168.00 to $137.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Jefferies Financial Group began coverage on shares of PennyMac Financial Services in a report on Friday, December 19th. They issued a “buy” rating and a $160.00 target price on the stock. Wall Street Zen downgraded PennyMac Financial Services from a “buy” rating to a “hold” rating in a research note on Sunday, January 18th. Finally, Zacks Research cut PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Five investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $139.71.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.