Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) Director Sells 8,373 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 8,373 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $102.95, for a total transaction of $862,000.35. Following the completion of the sale, the director now owns 19,056 shares of the company’s stock, valued at approximately $1,961,815.20. The trade was a 30.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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 stock was sold at an average price of $102.04, for a total transaction of $61,224.00.
• On Tuesday, December 24th, Doug Jones sold 23,229 shares of PennyMac Financial Services stock. The shares were sold at an average price of $101.51, for a total value of $2,357,975.79.

PennyMac Financial Services Trading Up 0.8 %

PFSI opened at $101.82 on Monday. PennyMac Financial Services, Inc. has a one year low of $83.03 and a one year high of $119.13. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. The business has a 50 day simple moving average of $103.61 and a two-hundred day simple moving average of $105.21. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 0.19 and a beta of 1.90.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. Analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.18%. PennyMac Financial Services’s dividend payout ratio is 20.55%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PFSI shares. Piper Sandler dropped their target price 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. Keefe, Bruyette & Woods dropped their price objective on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $122.17.

Hedge Funds Weigh In On PennyMac Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Summit Investment Advisors Inc. lifted its holdings in PennyMac Financial Services by 5.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,797 shares of the real estate investment trust’s stock worth $286,000 after buying an additional 154 shares during the period. KBC Group NV raised its position in shares of PennyMac Financial Services by 15.6% in the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock worth $158,000 after acquiring an additional 209 shares in the last quarter. Quantbot Technologies LP lifted its stake in shares of PennyMac Financial Services by 23.7% in the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 290 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of PennyMac Financial Services during the third quarter valued at approximately $37,000. Finally, Sterling Capital Management LLC grew its stake in 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 purchasing an additional 343 shares during the period. Hedge funds and other institutional investors own 57.87% of the company’s stock.

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.