American Century Companies Inc. Buys 11,765 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI)

American Century Companies Inc. increased its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 3.4% during the 4th quarter, Holdings Channel reports. The fund owned 353,631 shares of the real estate investment trust’s stock after acquiring an additional 11,765 shares during the period. American Century Companies Inc.’s holdings in PennyMac Financial Services were worth $36,120,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Parkside Financial Bank & Trust raised its holdings in shares of PennyMac Financial Services by 54.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock valued at $112,000 after purchasing an additional 389 shares during the period. KBC Group NV raised its stake in PennyMac Financial Services by 15.6% during the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 209 shares during the period. Quantbot Technologies LP boosted its holdings in PennyMac Financial Services by 23.7% in the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after acquiring an additional 290 shares in the last quarter. Verition Fund Management LLC acquired a new stake in PennyMac Financial Services in the third quarter valued at approximately $203,000. Finally, Hohimer Wealth Management LLC bought a new stake in shares of PennyMac Financial Services during the third quarter valued at approximately $236,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other PennyMac Financial Services news, CRO Abbie Tidmore sold 2,669 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $102.55, for a total value of $273,705.95. Following the transaction, the executive now directly owns 4,878 shares in the company, valued at $500,238.90. The trade was a 35.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Derek Stark sold 2,110 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $103.07, for a total transaction of $217,477.70. Following the sale, the insider now owns 26,209 shares of the company’s stock, valued at approximately $2,701,361.63. The trade was a 7.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,054 shares of company stock valued at $4,478,386 over the last three months. Corporate insiders own 16.60% of the company’s stock.

Wall Street Analysts Forecast Growth

PFSI has been the subject of several research reports. Keefe, Bruyette & Woods reduced their price target on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research report on Tuesday, December 10th. Piper Sandler dropped their price objective on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $122.17.

PennyMac Financial Services Price Performance

Shares of NYSE:PFSI opened at $100.34 on Friday. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The stock has a market cap of $5.16 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. The stock’s fifty day simple moving average is $103.02 and its two-hundred day simple moving average is $104.59. PennyMac Financial Services, Inc. has a 1-year low of $83.03 and a 1-year high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. As a group, 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 Sunday, February 23rd. Stockholders of record on Thursday, February 13th were paid a $0.30 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.20%. PennyMac Financial Services’s payout ratio is presently 20.55%.

About PennyMac Financial Services

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.