Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) Insider Sells 1,983 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider James Follette sold 1,983 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $99.93, for a total transaction of $198,161.19. Following the completion of the transaction, the insider now directly owns 10,497 shares in the company, valued at $1,048,965.21. The trade was a 15.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

PennyMac Financial Services Price Performance

PFSI stock opened at $102.02 on Friday. The firm has a market cap of $5.23 billion, a P/E ratio of 17.47, a P/E/G ratio of 0.19 and a beta of 1.78. The firm’s fifty day moving average is $103.56 and its 200 day moving average is $104.93. PennyMac Financial Services, Inc. has a 52 week low of $83.03 and a 52 week high of $119.13. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (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%. Research analysts predict that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

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

Analysts Set New Price Targets

PFSI has been the subject of several research reports. Piper Sandler cut their target price on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Keefe, Bruyette & Woods cut their price objective 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $122.17.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Creative Planning boosted its position in PennyMac Financial Services by 17.7% during the 3rd quarter. Creative Planning now owns 5,856 shares of the real estate investment trust’s stock valued at $667,000 after buying an additional 879 shares during the period. Blue Trust Inc. boosted its holdings in shares of PennyMac Financial Services by 59.5% during the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock worth $80,000 after purchasing an additional 262 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of PennyMac Financial Services in the third quarter worth about $37,000. Summit Global Investments purchased a new position in PennyMac Financial Services during the 3rd quarter valued at about $605,000. Finally, GSA Capital Partners LLP bought a new position in PennyMac Financial Services during the 3rd quarter valued at approximately $347,000. 57.87% of the stock is owned by hedge funds and other institutional investors.

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.