PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Bought by Allianz Asset Management GmbH (2024)

Allianz Asset Management GmbH boosted its holdings in shares of PennyMac Financial Services, Inc. (NYSE:PFSI – Free Report) by 8.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 61,991 shares of the real estate investment trust’s stock after purchasing an additional 4,854 shares during the period. Allianz Asset Management GmbH owned approximately 0.12% of PennyMac Financial Services worth $5,478,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. UBS Group AG increased its holdings in shares of PennyMac Financial Services by 40.6% in the fourth quarter. UBS Group AG now owns 82,027 shares of the real estate investment trust’s stock valued at $7,249,000 after buying an additional 23,696 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of PennyMac Financial Services during the fourth quarter worth $1,019,000. Norges Bank purchased a new stake in shares of PennyMac Financial Services during the fourth quarter valued at $31,258,000. Navellier & Associates Inc. acquired a new position in shares of PennyMac Financial Services in the 4th quarter valued at $221,000. Finally, Boston Partners purchased a new position in PennyMac Financial Services in the 4th quarter worth about $28,191,000. 57.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Wedbush reiterated an “outperform” rating and issued a $110.00 target price on shares of PennyMac Financial Services in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft reduced their target price on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, April 25th. StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday, May 21st. Barclays lifted their target price on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, April 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, PennyMac Financial Services currently has a consensus rating of “Moderate Buy” and an average price target of $97.75.

Insider Activity at PennyMac Financial Services

In other news, CEO David Spector sold 26,451 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $86.05, for a total value of $2,276,108.55. Following the completion of the sale, the chief executive officer now directly owns 647,938 shares in the company, valued at $55,755,064.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO David Spector sold 26,451 shares of PennyMac Financial Services stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $86.05, for a total value of $2,276,108.55. Following the transaction, the chief executive officer now directly owns 647,938 shares in the company, valued at $55,755,064.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Doug Jones sold 30,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $91.49, for a total value of $2,744,700.00. Following the sale, the director now owns 480,000 shares of the company’s stock, valued at approximately $43,915,200. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 136,650 shares of company stock valued at $12,248,387. Corporate insiders own 16.60% of the company’s stock.

PennyMac Financial Services Price Performance

Shares of PFSI opened at $92.25 on Thursday. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.39 and a current ratio of 0.39. The firm has a market cap of $4.70 billion, a PE ratio of 32.03, a PEG ratio of 0.59 and a beta of 1.70. PennyMac Financial Services, Inc. has a twelve month low of $62.15 and a twelve month high of $94.80. The firm’s 50 day moving average price is $90.10 and its 200 day moving average price is $87.43.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Monday, May 13th. PennyMac Financial Services’s dividend payout ratio is 27.78%.

About PennyMac Financial Services

(Free Report)

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.

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