Advisors Asset Management Inc. Has $191,000 Stock Position in PennyMac Financial Services, Inc. (NYSE:PFSI)

Advisors Asset Management Inc. boosted its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSIGet Rating) by 38.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,369 shares of the real estate investment trust’s stock after buying an additional 1,217 shares during the period. Advisors Asset Management Inc.’s holdings in PennyMac Financial Services were worth $191,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. grew its stake in PennyMac Financial Services by 1.5% in the first quarter. Victory Capital Management Inc. now owns 14,562 shares of the real estate investment trust’s stock valued at $707,000 after purchasing an additional 213 shares in the last quarter. Summit Wealth & Retirement Planning Inc. grew its stake in PennyMac Financial Services by 1.8% in the first quarter. Summit Wealth & Retirement Planning Inc. now owns 14,046 shares of the real estate investment trust’s stock valued at $747,000 after purchasing an additional 246 shares in the last quarter. Teacher Retirement System of Texas grew its stake in PennyMac Financial Services by 2.9% in the first quarter. Teacher Retirement System of Texas now owns 9,801 shares of the real estate investment trust’s stock valued at $521,000 after purchasing an additional 272 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in PennyMac Financial Services by 1.5% in the second quarter. Robeco Institutional Asset Management B.V. now owns 21,421 shares of the real estate investment trust’s stock valued at $936,000 after purchasing an additional 307 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its stake in PennyMac Financial Services by 13.7% in the first quarter. Neuberger Berman Group LLC now owns 3,914 shares of the real estate investment trust’s stock valued at $208,000 after purchasing an additional 472 shares in the last quarter. 61.61% of the stock is owned by institutional investors and hedge funds.

PennyMac Financial Services Price Performance

NYSE PFSI opened at $54.86 on Tuesday. PennyMac Financial Services, Inc. has a twelve month low of $38.53 and a twelve month high of $71.52. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $2.75 billion, a PE ratio of 5.24 and a beta of 1.40. The stock has a 50-day simple moving average of $49.61 and a 200 day simple moving average of $49.83.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 23rd. Investors of record on Monday, November 14th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, November 10th. This represents a $0.80 annualized dividend and a dividend yield of 1.46%. PennyMac Financial Services’s dividend payout ratio is presently 7.64%.

Wall Street Analysts Forecast Growth

PFSI has been the topic of a number of recent research reports. Barclays lowered their target price on PennyMac Financial Services from $65.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, October 17th. Wells Fargo & Company decreased their price target on PennyMac Financial Services from $59.00 to $54.00 and set an “equal weight” rating for the company in a research note on Friday, October 28th. StockNews.com started coverage on PennyMac Financial Services in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Finally, Piper Sandler upped their price target on PennyMac Financial Services from $78.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, October 28th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.67.

Insider Buying and Selling

In related news, insider Derek Stark sold 7,500 shares of the business’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $53.86, for a total transaction of $403,950.00. Following the completion of the transaction, the insider now owns 46,820 shares of the company’s stock, valued at approximately $2,521,725.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other PennyMac Financial Services news, Director Patrick Kinsella sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $56.75, for a total value of $141,875.00. Following the completion of the transaction, the director now owns 34,209 shares of the company’s stock, valued at approximately $1,941,360.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Derek Stark sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $53.86, for a total value of $403,950.00. Following the completion of the transaction, the insider now directly owns 46,820 shares of the company’s stock, valued at approximately $2,521,725.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 91,676 shares of company stock valued at $5,025,321. Insiders own 18.00% of the company’s stock.

About PennyMac Financial Services

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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.

Further Reading

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Institutional Ownership by Quarter for PennyMac Financial Services (NYSE:PFSI)

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