Assenagon Asset Management S.A. Has $1.89 Million Stake in PennyMac Financial Services, Inc. (NYSE:PFSI)

Assenagon Asset Management S.A. lessened its stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 30.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,889 shares of the real estate investment trust's stock after selling 8,317 shares during the quarter. Assenagon Asset Management S.A.'s holdings in PennyMac Financial Services were worth $1,891,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Rhumbline Advisers grew its stake in shares of PennyMac Financial Services by 1.6% in the first quarter. Rhumbline Advisers now owns 42,208 shares of the real estate investment trust's stock worth $4,225,000 after purchasing an additional 679 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of PennyMac Financial Services by 12,101.0% during the 1st quarter. GAMMA Investing LLC now owns 11,713 shares of the real estate investment trust's stock valued at $1,173,000 after acquiring an additional 11,617 shares in the last quarter. ProShare Advisors LLC increased its position in PennyMac Financial Services by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 7,530 shares of the real estate investment trust's stock worth $769,000 after purchasing an additional 2,478 shares during the last quarter. Millennium Management LLC increased its position in PennyMac Financial Services by 104.5% in the 4th quarter. Millennium Management LLC now owns 518,574 shares of the real estate investment trust's stock worth $52,967,000 after purchasing an additional 264,956 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of PennyMac Financial Services by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,217 shares of the real estate investment trust's stock worth $1,554,000 after purchasing an additional 606 shares in the last quarter. 57.87% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CRO Abbie Tidmore sold 2,669 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $102.55, for a total transaction of $273,705.95. Following the completion of 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David Spector sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $98.29, for a total value of $491,450.00. Following the transaction, the chief executive officer now owns 140,604 shares of the company's stock, valued at approximately $13,819,967.16. This trade represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,579 shares of company stock valued at $3,945,042 over the last 90 days. 15.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PFSI has been the subject of several recent research reports. Keefe, Bruyette & Woods raised PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price target for the company in a research note on Tuesday, April 8th. Piper Sandler lowered their price target on PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company lowered their price target on PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, UBS Group lowered their price target on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $121.17.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock traded up $0.66 during trading hours on Friday, reaching $95.32. 334,003 shares of the company were exchanged, compared to its average volume of 319,486. The firm has a market cap of $4.92 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 0.19 and a beta of 1.55. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 2.96. The stock has a 50-day moving average of $96.56 and a 200 day moving average of $100.13. PennyMac Financial Services, Inc. has a 12 month low of $85.74 and a 12 month high of $119.13.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.99 by ($1.57). The company had revenue of $430.90 million for the quarter, compared to the consensus estimate of $520.42 million. PennyMac Financial Services had a return on equity of 14.78% and a net margin of 20.27%. During the same period in the previous year, the company earned $0.74 EPS. As a group, research analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 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, May 23rd. Shareholders of record on Wednesday, May 14th were given a dividend of $0.30 per share. The ex-dividend date was Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.26%. PennyMac Financial Services's payout ratio is currently 18.40%.

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.