Wellington Management Group LLP Has $30.38 Million Stake in PennyMac Financial Services, Inc. $PFSI

Wellington Management Group LLP lifted its holdings in PennyMac Financial Services, Inc. (NYSE:PFSI) by 28.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 348,769 shares of the real estate investment trust’s stock after acquiring an additional 76,499 shares during the quarter. Wellington Management Group LLP’s holdings in PennyMac Financial Services were worth $30,378,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PFSI. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in PennyMac Financial Services in the second quarter worth $25,000. EverSource Wealth Advisors LLC acquired a new position in PennyMac Financial Services during the 2nd quarter worth about $26,000. Strs Ohio bought a new stake in PennyMac Financial Services during the 1st quarter worth about $30,000. Caitong International Asset Management Co. Ltd increased its position in PennyMac Financial Services by 7,600.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 228 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in PennyMac Financial Services in the 4th quarter valued at about $31,000. 57.87% of the stock is currently owned by institutional investors.

PennyMac Financial Services Price Performance

Shares of PFSI opened at $73.29 on Friday. The stock has a market cap of $3.81 billion, a P/E ratio of 10.07, a price-to-earnings-growth ratio of 0.69 and a beta of 1.44. PennyMac Financial Services, Inc. has a 1 year low of $70.67 and a 1 year high of $160.36. The stock’s 50-day moving average price is $79.32 and its two-hundred day moving average price is $84.63. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22.

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

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders 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 dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, August 17th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 16.48%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barclays decreased their price target on shares of PennyMac Financial Services from $93.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Piper Sandler downgraded PennyMac Financial Services from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $106.00 to $86.00 in a research report on Thursday, July 30th. Weiss Ratings reiterated a “sell (d+)” rating on shares of PennyMac Financial Services in a report on Monday, August 3rd. BTIG Research cut their target price on shares of PennyMac Financial Services from $105.00 to $90.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Finally, Wall Street Zen lowered shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, PennyMac Financial Services presently has a consensus rating of “Hold” and an average price target of $104.88.

Insider Buying and Selling at PennyMac Financial Services

In other news, CAO Gregory Hendry sold 2,943 shares of the business’s stock in a transaction on 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 transaction, the chief accounting officer owned 48,968 shares of the company’s stock, valued at $4,001,175.28. The trade was a 5.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 15.20% of the stock is currently owned by corporate insiders.

About PennyMac Financial Services

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.