UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 7,409 Shares of PennyMac Financial Services, Inc. $PFSI

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in PennyMac Financial Services, Inc. (NYSE:PFSI) by 9.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 68,681 shares of the real estate investment trust’s stock after selling 7,409 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.13% of PennyMac Financial Services worth $5,982,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PFSI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in PennyMac Financial Services by 0.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,034 shares of the real estate investment trust’s stock worth $1,598,000 after buying an additional 111 shares during the last quarter. Sei Investments Co. lifted its position in shares of PennyMac Financial Services by 0.7% in the third quarter. Sei Investments Co. now owns 22,145 shares of the real estate investment trust’s stock valued at $2,743,000 after buying an additional 146 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of PennyMac Financial Services by 1.0% in the third quarter. CANADA LIFE ASSURANCE Co now owns 16,236 shares of the real estate investment trust’s stock valued at $2,026,000 after buying an additional 163 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of PennyMac Financial Services by 7.3% during the 4th quarter. Cerity Partners LLC now owns 2,399 shares of the real estate investment trust’s stock worth $316,000 after acquiring an additional 164 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of PennyMac Financial Services by 4.4% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 4,619 shares of the real estate investment trust’s stock worth $609,000 after acquiring an additional 196 shares during the period. 57.87% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Financial Services Stock Performance

PFSI opened at $72.10 on Wednesday. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.38 and a quick ratio of 0.38. The business has a fifty day simple moving average of $78.76 and a 200 day simple moving average of $84.26. PennyMac Financial Services, Inc. has a 1 year low of $70.67 and a 1 year high of $160.36. The company has a market capitalization of $3.75 billion, a PE ratio of 9.90, a price-to-earnings-growth ratio of 0.69 and a beta of 1.44.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Wednesday, July 29th. The real estate investment trust reported $1.39 earnings per share for the quarter, missing the consensus estimate of $2.11 by ($0.72). PennyMac Financial Services had a return on equity of 11.18% and a net margin of 17.74%.During the same period in the prior year, the firm posted $2.54 EPS. The company’s revenue for the quarter was up 11.8% compared to the same quarter last year. Research analysts expect that PennyMac Financial Services, Inc. will post 7.36 EPS for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Monday, August 17th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Monday, August 17th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 16.48%.

Insider Buying and Selling

In other PennyMac Financial Services news, CAO Gregory Hendry sold 2,943 shares of PennyMac Financial Services stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $81.71, for a total value of $240,472.53. Following the completion of the sale, the chief accounting officer owned 48,968 shares in the company, valued at $4,001,175.28. The trade was a 5.67% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 15.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PFSI. Wells Fargo & Company dropped their price target on PennyMac Financial Services from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of PennyMac Financial Services in a research report on Monday, August 3rd. BTIG Research decreased their price objective on shares of PennyMac Financial Services from $105.00 to $90.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Barclays dropped their price objective on shares of PennyMac Financial Services from $93.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. Finally, Piper Sandler downgraded shares of PennyMac Financial Services from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $106.00 to $86.00 in a report on Thursday, July 30th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $104.88.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.