PennyMac Financial Services, Inc. (NYSE:PFSI) Holdings Lifted by American Century Companies Inc.

American Century Companies Inc. raised its position in PennyMac Financial Services, Inc. (NYSE:PFSI) by 13.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 347,979 shares of the real estate investment trust’s stock after purchasing an additional 40,676 shares during the quarter. American Century Companies Inc.’s holdings in PennyMac Financial Services were worth $32,919,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Quest Partners LLC lifted its holdings in PennyMac Financial Services by 493.5% in the second quarter. Quest Partners LLC now owns 4,137 shares of the real estate investment trust’s stock worth $391,000 after purchasing an additional 3,440 shares during the period. Arizona State Retirement System lifted its stake in shares of PennyMac Financial Services by 2.9% in the 2nd quarter. Arizona State Retirement System now owns 11,999 shares of the real estate investment trust’s stock worth $1,135,000 after acquiring an additional 336 shares during the period. Cannon Global Investment Management LLC bought a new position in shares of PennyMac Financial Services in the second quarter valued at approximately $255,000. Picton Mahoney Asset Management increased its stake in shares of PennyMac Financial Services by 25.3% during the second quarter. Picton Mahoney Asset Management now owns 59,293 shares of the real estate investment trust’s stock valued at $5,609,000 after acquiring an additional 11,964 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in PennyMac Financial Services by 10.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,554 shares of the real estate investment trust’s stock worth $904,000 after purchasing an additional 935 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Trading Up 0.1 %

NYSE:PFSI opened at $116.65 on Wednesday. The stock has a fifty day simple moving average of $101.29 and a 200 day simple moving average of $94.01. The firm has a market capitalization of $5.97 billion, a price-to-earnings ratio of 40.51, a price-to-earnings-growth ratio of 0.72 and a beta of 1.77. PennyMac Financial Services, Inc. has a 1-year low of $62.15 and a 1-year high of $117.67. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.80). PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The firm had revenue of $406.13 million during the quarter, compared to analyst estimates of $469.64 million. During the same quarter in the previous year, the business earned $1.11 earnings per share. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. Sell-side analysts forecast that PennyMac Financial Services, Inc. will post 10.61 earnings per share for the current year.

PennyMac Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.30 per share. This is an increase from PennyMac Financial Services’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a yield of 1.03%. The ex-dividend date was Tuesday, August 13th. PennyMac Financial Services’s payout ratio is 41.67%.

Insider Activity

In related news, Director Anne Mccallion sold 23,829 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $103.14, for a total transaction of $2,457,723.06. Following the transaction, the director now directly owns 1,854 shares of the company’s stock, valued at $191,221.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Joseph F. Mazzella sold 11,396 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $97.92, for a total transaction of $1,115,896.32. Following the transaction, the director now directly owns 105,446 shares in the company, valued at approximately $10,325,272.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Anne Mccallion sold 23,829 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $103.14, for a total transaction of $2,457,723.06. Following the completion of the transaction, the director now directly owns 1,854 shares in the company, valued at $191,221.56. The disclosure for this sale can be found here. Insiders sold 55,225 shares of company stock worth $5,487,319 over the last quarter. Corporate insiders own 16.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PFSI. Piper Sandler lifted their price target on PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Wednesday, July 3rd. Wedbush upped their price target on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price objective on the stock. in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $107.17.

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.