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 stake in shares of PennyMac Financial Services, Inc. (NYSE:PFSI) by 9.7% in the second quarter, HoldingsChannel.com reports. The fund 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’s holdings in PennyMac Financial Services were worth $5,982,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC raised its stake in PennyMac Financial Services by 3.8% in the first quarter. AQR Capital Management LLC now owns 24,012 shares of the real estate investment trust’s stock valued at $2,404,000 after purchasing an additional 875 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in PennyMac Financial Services by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,923 shares of the real estate investment trust’s stock worth $1,594,000 after buying an additional 706 shares in the last quarter. Intech Investment Management LLC grew its stake in PennyMac Financial Services by 5.8% during the first quarter. Intech Investment Management LLC now owns 15,382 shares of the real estate investment trust’s stock worth $1,540,000 after buying an additional 840 shares in the last quarter. Strs Ohio bought a new position in PennyMac Financial Services in the 1st quarter valued at about $30,000. Finally, Prudential Financial Inc. increased its holdings in PennyMac Financial Services by 82.8% in the 2nd quarter. Prudential Financial Inc. now owns 4,084 shares of the real estate investment trust’s stock valued at $413,000 after buying an additional 1,850 shares during the period. 57.87% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wells Fargo & Company cut their price target on shares of PennyMac Financial Services from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Barclays lowered their price objective on shares of PennyMac Financial Services from $93.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. BTIG Research cut their target price on PennyMac Financial Services from $105.00 to $90.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of PennyMac Financial Services in a report on Monday, August 3rd. Finally, Stephens decreased their price target on PennyMac Financial Services from $91.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, PennyMac Financial Services presently has an average rating of “Hold” and a consensus target price of $104.88.

Insider Activity

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

PennyMac Financial Services Stock Down 1.6%

PFSI stock opened at $72.10 on Wednesday. The firm has a 50-day moving average price of $78.76 and a 200-day moving average price of $84.26. PennyMac Financial Services, Inc. has a 12 month low of $70.67 and a 12 month high of $160.36. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The stock has a market capitalization of $3.75 billion, a P/E 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 announced its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.54 EPS. As a group, equities research analysts anticipate that PennyMac Financial Services, Inc. will post 7.36 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

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

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.