American Century Companies Inc. Has $34.75 Million Stock Position in PennyMac Financial Services, Inc. $PFSI

Key Points

• American Century Companies Inc. decreased its stake in PennyMac Financial Services, Inc. by 1.8%, holding 347,161 shares worth approximately $34.8 million after selling 6,470 shares in Q1.
• Several institutional investors, including Russell Investments Group and Invesco Ltd., also adjusted their positions in PennyMac, with Russell increasing its stake by 19.8%.
• PennyMac recently reported a quarterly EPS of $1.02, missing the consensus estimate of $3.01, alongside revenues of $444.73 million versus an estimate of $547.44 million.

American Century Companies Inc. cut its stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 1.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 347,161 shares of the real estate investment trust's stock after selling 6,470 shares during the quarter. American Century Companies Inc. owned 0.67% of PennyMac Financial Services worth $34,754,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PFSI. CWM LLC boosted its position in PennyMac Financial Services by 71.5% in the first quarter. CWM LLC now owns 271 shares of the real estate investment trust's stock valued at $27,000 after buying an additional 113 shares in the last quarter. TD Waterhouse Canada Inc. bought a new position in shares of PennyMac Financial Services in the 4th quarter valued at $39,000. Sterling Capital Management LLC boosted its holdings in shares of PennyMac Financial Services by 601.8% during the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock valued at $41,000 after acquiring an additional 343 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in PennyMac Financial Services during the 4th quarter worth $71,000. Finally, Xponance Inc. acquired a new position in PennyMac Financial Services in the 1st quarter worth about $202,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Financial Services Trading Down 0.1%

Shares of NYSE PFSI traded down $0.0570 during midday trading on Monday, reaching $109.6630. The stock had a trading volume of 238,280 shares, compared to its average volume of 379,244. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 15.21 and a beta of 1.50. PennyMac Financial Services, Inc. has a twelve month low of $85.74 and a twelve month high of $119.13. The company has a debt-to-equity ratio of 3.03, a quick ratio of 0.34 and a current ratio of 0.34. The company's 50 day moving average price is $99.81 and its 200 day moving average price is $98.88.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its earnings results on Tuesday, July 22nd. The real estate investment trust reported $1.02 earnings per share for the quarter, missing analysts' consensus estimates of $3.01 by ($1.99). The firm had revenue of $444.73 million for the quarter, compared to the consensus estimate of $547.44 million. PennyMac Financial Services had a return on equity of 12.18% and a net margin of 22.00%.PennyMac Financial Services's quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.85 EPS. As a group, sell-side analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Wednesday, August 13th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Wednesday, August 13th. PennyMac Financial Services's payout ratio is currently 16.64%.

Insider Activity

In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 7,107 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $108.16, for a total transaction of $768,693.12. Following the transaction, the director directly owned 86,050 shares in the company, valued at approximately $9,307,168. This represents a 7.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Spector sold 5,000 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $105.73, for a total transaction of $528,650.00. Following the sale, the chief executive officer directly owned 130,604 shares of the company's stock, valued at approximately $13,808,760.92. This trade represents a 3.69% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,107 shares of company stock worth $2,292,843. 15.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on PFSI shares. Piper Sandler cut their price target on PennyMac Financial Services from $125.00 to $121.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods cut their target price on shares of PennyMac Financial Services from $121.00 to $117.00 and set an "outperform" rating on the stock in a research report on Thursday, July 24th. Barclays reduced their target price on shares of PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating on the stock in a report on Tuesday, July 8th. Wells Fargo & Company initiated coverage on shares of PennyMac Financial Services in a research note on Monday. They set an "overweight" rating and a $115.00 price target for the company. Finally, UBS Group cut their price target on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating on the stock in a report on Thursday, July 24th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $118.67.

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.