PennyMac Financial Services, Inc. (NYSE:PFSI) Insider Sells $100,003.52 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider James Follette sold 992 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $100.81, for a total value of $100,003.52. Following the completion of the sale, the insider now directly owns 7,338 shares of the company’s stock, valued at $739,743.78. The trade was a 11.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

James Follette also recently made the following trade(s):

• On Tuesday, February 25th, James Follette sold 1,983 shares of PennyMac Financial Services stock. The shares were sold at an average price of $99.93, for a total value of $198,161.19.

PennyMac Financial Services Stock Performance

NYSE:PFSI opened at $101.82 on Friday. 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 firm has a 50-day moving average price of $103.61 and a two-hundred day moving average price of $105.10. PennyMac Financial Services, Inc. has a twelve month low of $83.03 and a twelve month high of $119.13. The company has a market capitalization of $5.24 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90.

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 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, research analysts expect that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

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

Hedge Funds Weigh In On PennyMac Financial Services

Several hedge funds have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. increased its holdings in PennyMac Financial Services by 5.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,797 shares of the real estate investment trust’s stock valued at $286,000 after acquiring an additional 154 shares in the last quarter. KBC Group NV grew its holdings in shares of PennyMac Financial Services by 15.6% during the fourth quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock worth $158,000 after buying an additional 209 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of PennyMac Financial Services by 23.7% during the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 290 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of PennyMac Financial Services in the third quarter worth approximately $37,000. Finally, Sterling Capital Management LLC boosted its position in shares of PennyMac Financial Services by 601.8% in the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock worth $41,000 after acquiring an additional 343 shares during the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on PFSI. Keefe, Bruyette & Woods decreased their price target on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a report on Tuesday, December 10th. Piper Sandler decreased their price target on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, PennyMac Financial Services presently has an average rating of “Moderate Buy” and an average price target of $122.17.

About PennyMac Financial Services

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.