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 PennyMac Financial Services stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $100.81, for a total transaction of $100,003.52. Following the completion of the sale, the insider now owns 7,338 shares in the company, valued at approximately $739,743.78. This trade represents a 11.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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 stock was sold at an average price of $99.93, for a total value of $198,161.19.

PennyMac Financial Services Trading Up 0.8 %

NYSE:PFSI traded up $0.81 during trading hours on Friday, hitting $101.82. The company had a trading volume of 256,854 shares, compared to its average volume of 339,433. PennyMac Financial Services, Inc. has a 1 year low of $83.03 and a 1 year high of $119.13. The company has a market cap of $5.24 billion, a P/E ratio of 17.43, a P/E/G ratio of 0.19 and a beta of 1.78. The company has a 50-day moving average of $103.61 and a 200 day moving average of $105.10. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22.

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%. Sell-side analysts expect that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. FMR LLC raised its position in PennyMac Financial Services by 231.9% in the third quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock valued at $133,003,000 after purchasing an additional 815,389 shares during the period. Norges Bank purchased a new position in shares of PennyMac Financial Services during the 4th quarter worth $38,004,000. Millennium Management LLC grew its holdings in shares of PennyMac Financial Services by 104.5% during the 4th quarter. Millennium Management LLC now owns 518,574 shares of the real estate investment trust’s stock worth $52,967,000 after purchasing an additional 264,956 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of PennyMac Financial Services during the 3rd quarter worth about $24,644,000. Finally, Vanguard Group Inc. raised its holdings in PennyMac Financial Services by 7.4% in the 4th quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust’s stock valued at $294,835,000 after buying an additional 199,667 shares during the period. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on PFSI shares. Keefe, Bruyette & Woods reduced 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. Piper Sandler reduced 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $122.17.

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.