Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) Insider Sells 588 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Derek Stark sold 588 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $101.52, for a total value of $59,693.76. Following the completion of the sale, the insider now owns 25,621 shares in the company, valued at approximately $2,601,043.92. The trade was a 2.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Derek Stark also recently made the following trade(s):

• On Friday, February 28th, Derek Stark sold 2,110 shares of PennyMac Financial Services stock. The shares were sold at an average price of $103.07, for a total transaction of $217,477.70.

PennyMac Financial Services Stock Down 1.8 %

Shares of PFSI traded down $1.88 during trading hours on Tuesday, hitting $101.74. The company had a trading volume of 322,828 shares, compared to its average volume of 343,774. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The company has a market capitalization of $5.23 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 0.19 and a beta of 1.78. PennyMac Financial Services, Inc. has a one year low of $83.03 and a one year high of $119.13. The company’s fifty day moving average price is $103.64 and its two-hundred day moving average price is $105.15.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. As a group, equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 20.55%.

Hedge Funds Weigh In On PennyMac Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of PFSI. State Street Corp boosted its holdings in shares of PennyMac Financial Services by 6.0% in the 3rd quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock valued at $103,911,000 after acquiring an additional 51,777 shares during the last quarter. JPMorgan Chase & Co. lifted its position in PennyMac Financial Services by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock valued at $108,809,000 after purchasing an additional 21,751 shares during the period. XTX Topco Ltd purchased a new stake in PennyMac Financial Services in the third quarter valued at $614,000. HighTower Advisors LLC acquired a new stake in PennyMac Financial Services during the third quarter worth about $702,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of PennyMac Financial Services during the 3rd quarter valued at approximately $24,644,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

Wall Street Analysts Forecast Growth

PFSI has been the subject of a number of research reports. Keefe, Bruyette & Woods dropped their price objective on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 10th. Piper Sandler dropped their target price on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PennyMac Financial Services presently has a consensus rating of “Moderate Buy” and an average price target of $122.17.

PennyMac Financial Services Company Profile

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.