Allianz Asset Management GmbH Lowers Stock Position in PennyMac Financial Services, Inc. $PFSI

Allianz Asset Management GmbH cut its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 40.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,501 shares of the real estate investment trust’s stock after selling 29,997 shares during the period. Allianz Asset Management GmbH owned approximately 0.09% of PennyMac Financial Services worth $5,513,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted 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 worth $2,404,000 after purchasing an additional 875 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 buying an additional 706 shares during the period. Intech Investment Management LLC raised 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 buying an additional 840 shares during the period. Strs Ohio acquired a new position in PennyMac Financial Services during the 1st quarter worth about $30,000. Finally, KLP Kapitalforvaltning AS boosted its holdings in PennyMac Financial Services by 13.8% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 6,600 shares of the real estate investment trust’s stock valued at $658,000 after acquiring an additional 800 shares during the period. Institutional investors and hedge funds own 57.87% of the company’s stock.

PennyMac Financial Services Trading Down 0.3%

NYSE:PFSI opened at $94.48 on Wednesday. PennyMac Financial Services, Inc. has a 1 year low of $85.74 and a 1 year high of $160.36. The stock has a market cap of $4.91 billion, a P/E ratio of 10.16, a P/E/G ratio of 0.54 and a beta of 1.55. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a 50-day simple moving average of $132.03 and a 200-day simple moving average of $123.14.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Thursday, January 29th. The real estate investment trust reported $1.97 earnings per share for the quarter, missing the consensus estimate of $3.23 by ($1.26). The business had revenue of $538.01 million for the quarter, compared to analysts’ expectations of $639.81 million. PennyMac Financial Services had a return on equity of 10.36% and a net margin of 24.48%.PennyMac Financial Services’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.95 EPS. As a group, analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 26th. Stockholders of record on Monday, February 16th will be issued a $0.30 dividend. The ex-dividend date is Friday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.3%. PennyMac Financial Services’s dividend payout ratio is presently 12.90%.

Insider Activity at PennyMac Financial Services

In other news, CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $145.19, for a total transaction of $1,451,900.00. Following the sale, the chief executive officer owned 100,604 shares in the company, valued at approximately $14,606,694.76. The trade was a 9.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Gregory L. Hendry sold 3,530 shares of the business’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $131.64, for a total value of $464,689.20. Following the completion of the sale, the chief accounting officer directly owned 48,633 shares of the company’s stock, valued at $6,402,048.12. The trade was a 6.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 47,305 shares of company stock valued at $6,329,768. Corporate insiders own 15.80% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on PFSI shares. UBS Group increased their price target on shares of PennyMac Financial Services from $135.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Zacks Research downgraded shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Jefferies Financial Group initiated coverage on shares of PennyMac Financial Services in a research report on Friday, December 19th. They issued a “buy” rating and a $160.00 price target for the company. Barclays cut their price objective on PennyMac Financial Services from $158.00 to $136.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Finally, Piper Sandler decreased their target price on PennyMac Financial Services from $168.00 to $137.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.