American Century Companies Inc. Buys 25,502 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

Posted by Defense World Staff on Sep 2nd, 2023

American Century Companies Inc. boosted its stake in PennyMac Financial Services, Inc. (NYSE:PFSI – Free Report) by 11.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 252,249 shares of the real estate investment trust’s stock after buying an additional 25,502 shares during the quarter. American Century Companies Inc. owned approximately 0.50% of PennyMac Financial Services worth $14,709,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PFSI. Tower Research Capital LLC TRC boosted its stake in shares of PennyMac Financial Services by 59.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 542 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 203 shares in the last quarter. US Bancorp DE boosted its position in PennyMac Financial Services by 28.1% in the first quarter. US Bancorp DE now owns 867 shares of the real estate investment trust’s stock valued at $52,000 after buying an additional 190 shares in the last quarter. Westpac Banking Corp bought a new stake in PennyMac Financial Services during the first quarter worth about $64,000. Captrust Financial Advisors increased its holdings in shares of PennyMac Financial Services by 75.9% during the second quarter. Captrust Financial Advisors now owns 2,890 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 1,247 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of PennyMac Financial Services by 19.9% in the first quarter. Canada Pension Plan Investment Board now owns 2,932 shares of the real estate investment trust’s stock valued at $156,000 after acquiring an additional 486 shares during the last quarter. 59.12% of the stock is currently owned by institutional investors.

PennyMac Financial Services Stock Up 1.5 %

Shares of NYSE:PFSI opened at $72.84 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.53 and a quick ratio of 0.53. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of 15.02 and a beta of 1.50. The company has a 50 day moving average of $72.97 and a 200-day moving average of $65.64. PennyMac Financial Services, Inc. has a one year low of $41.76 and a one year high of $82.92.

PennyMac Financial Services (NYSE:PFSI – Get Free Report) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $1.11 EPS for the quarter, hitting analysts’ consensus estimates of $1.11. The firm had revenue of $336.55 million during the quarter, compared to analyst estimates of $391.93 million. PennyMac Financial Services had a net margin of 17.95% and a return on equity of 7.80%. On average, sell-side analysts forecast that PennyMac Financial Services, Inc. will post 5 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Tuesday, August 15th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend was Monday, August 14th. PennyMac Financial Services’s payout ratio is 16.49%.

Insiders Place Their Bets

In other news, Director Anne Mccallion sold 28,216 shares of the company’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $64.95, for a total value of $1,832,629.20. Following the completion of the sale, the director now directly owns 4,926 shares of the company’s stock, valued at approximately $319,943.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 7,600 shares of PennyMac Financial Services stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $72.37, for a total transaction of $550,012.00. Following the transaction, the chief financial officer now directly owns 280,697 shares in the company, valued at $20,314,041.89. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Anne Mccallion sold 28,216 shares of the stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $64.95, for a total value of $1,832,629.20. Following the completion of the sale, the director now owns 4,926 shares of the company’s stock, valued at $319,943.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,816 shares of company stock worth $5,708,141. Insiders own 17.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PFSI. Jefferies Financial Group started coverage on PennyMac Financial Services in a report on Monday, July 17th. They set a “buy” rating and a $85.00 price target for the company. StockNews.com initiated coverage on PennyMac Financial Services in a report on Thursday, August 17th. They issued a “hold” rating for the company. Wedbush upped their price target on shares of PennyMac Financial Services from $80.00 to $95.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Piper Sandler raised their price objective on shares of PennyMac Financial Services from $82.00 to $89.00 in a research report on Tuesday, June 13th. Finally, TheStreet upgraded shares of PennyMac Financial Services from a “c+” rating to a “b-” rating in a research report on Wednesday, August 16th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.00.

View Our Latest Stock Report on PFSI

About PennyMac Financial Services

(Free Report)

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. It operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.