Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) Director Sells 23,229 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 23,229 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $101.51, for a total transaction of $2,357,975.79. Following the transaction, the director now owns 23,892 shares of the company’s stock, valued at approximately $2,425,276.92. This represents a 49.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Doug Jones also recently made the following trade(s):

• On Thursday, December 26th, Doug Jones sold 7,882 shares of PennyMac Financial Services stock. The shares were sold at an average price of $103.16, for a total transaction of $813,107.12.
• On Friday, December 20th, Doug Jones sold 600 shares of PennyMac Financial Services stock. The shares were sold at an average price of $102.04, for a total transaction of $61,224.00.

PennyMac Financial Services Stock Performance

Shares of PFSI stock opened at $102.07 on Friday. The company’s fifty day simple moving average is $103.54 and its 200-day simple moving average is $102.41. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The firm has a market cap of $5.23 billion, a PE ratio of 32.40 and a beta of 1.78. PennyMac Financial Services, Inc. has a 12 month low of $81.93 and a 12 month high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). The business had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.77 EPS. Equities research analysts expect that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.18%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 38.10%.

Institutional Trading of PennyMac Financial Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in PFSI. FMR LLC raised its position in PennyMac Financial Services by 231.9% during the third quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock worth $133,003,000 after acquiring an additional 815,389 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in PennyMac Financial Services during the third quarter worth $24,644,000. Philadelphia Financial Management of San Francisco LLC bought a new stake in PennyMac Financial Services during the third quarter worth $21,890,000. Edgestream Partners L.P. raised its position in PennyMac Financial Services by 256.9% during the second quarter. Edgestream Partners L.P. now owns 84,861 shares of the real estate investment trust’s stock worth $8,028,000 after acquiring an additional 61,087 shares in the last quarter. Finally, State Street Corp raised its position in PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after acquiring an additional 51,777 shares in the last quarter. 57.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PFSI shares. Wedbush restated an “outperform” rating and set a $130.00 price objective on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Barclays upped their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods reduced their price target on shares of 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 upped their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Wells Fargo & Company upped their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $122.50.

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.