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

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Derek Stark sold 588 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $101.52, for a total value of $59,693.76. Following the completion of the transaction, the insider now owns 25,621 shares of the company’s stock, valued at $2,601,043.92. This represents a 2.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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 stock opened at $101.74 on Wednesday. The firm’s fifty day moving average price is $103.64 and its two-hundred day moving average price is $105.15. PennyMac Financial Services, Inc. has a 1 year low of $83.03 and a 1 year high of $119.13. 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 market capitalization of $5.23 billion, a P/E ratio of 17.42, a PEG ratio of 0.19 and a beta of 1.78.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 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%. On average, equities analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Investors 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 dividend on an annualized basis and a yield of 1.18%. PennyMac Financial Services’s payout ratio is 20.55%.

Wall Street Analyst Weigh In

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

Institutional Trading of PennyMac Financial Services

A number of large investors have recently added to or reduced their stakes in PFSI. Summit Investment Advisors Inc. increased its stake in shares of 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 worth $286,000 after purchasing an additional 154 shares during the last quarter. KBC Group NV increased its position in 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 during the last quarter. Quantbot Technologies LP raised its stake in PennyMac Financial Services by 23.7% in the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after buying an additional 290 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of PennyMac Financial Services in the third quarter valued at approximately $37,000. Finally, Sterling Capital Management LLC boosted its stake in shares of PennyMac Financial Services by 601.8% during the 4th 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 period. Institutional investors and hedge funds 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.