Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Sells $309,536.88 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Gregory L. Hendry sold 3,032 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $102.09, for a total transaction of $309,536.88. Following the transaction, the chief accounting officer now owns 48,040 shares of the company’s stock, valued at $4,904,403.60. This represents a 5.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI opened at $105.62 on Friday. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. The firm has a fifty day moving average of $106.77 and a 200 day moving average of $100.23. The firm has a market cap of $5.41 billion, a PE ratio of 33.53 and a beta of 1.79. PennyMac Financial Services, Inc. has a one year low of $76.57 and a one year high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results 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 company had revenue of $411.83 million for the quarter, compared to analysts’ expectations of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 EPS. As a group, research analysts predict that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.14%. PennyMac Financial Services’s payout ratio is currently 38.10%.

Analyst Ratings Changes

PFSI has been the subject of several analyst reports. Barclays boosted their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Piper Sandler raised their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company boosted their target price on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Wedbush restated an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $115.86.

Institutional Trading of PennyMac Financial Services

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in PennyMac Financial Services by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust’s stock valued at $238,509,000 after purchasing an additional 8,345 shares in the last quarter. FMR LLC raised its position in shares of 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 buying an additional 815,389 shares during the last quarter. State Street Corp lifted its stake in shares of PennyMac Financial Services by 6.0% in the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after buying an additional 51,777 shares in the last quarter. Geode Capital Management LLC boosted its position in PennyMac Financial Services by 3.1% during the third quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust’s stock worth $73,841,000 after acquiring an additional 19,662 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in PennyMac Financial Services by 7.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust’s stock valued at $50,985,000 after acquiring an additional 31,035 shares in the last quarter. 57.87% of the stock is owned by institutional investors and hedge funds.

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.