Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) Director Sells $61,224.00 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 600 shares of PennyMac Financial Services stock in a transaction on Friday, December 20th. The stock was sold at an average price of $102.04, for a total transaction of $61,224.00. Following the sale, the director now owns 23,892 shares in the company, valued at $2,437,939.68. This represents a 2.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

PennyMac Financial Services Stock Down 0.9 %

Shares of NYSE PFSI opened at $102.07 on Friday. PennyMac Financial Services, Inc. has a 12-month low of $81.93 and a 12-month high of $119.13. The firm’s 50-day simple moving average is $103.54 and its 200 day simple moving average is $102.41. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 32.40 and a beta of 1.78.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (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 analyst estimates of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. PennyMac Financial Services’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.77 earnings per share. On average, research analysts expect that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were paid a $0.30 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.18%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 38.10%.

Institutional Investors Weigh In On PennyMac Financial Services

A number of institutional investors and hedge funds have recently made changes to their positions in PFSI. FMR LLC increased 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 worth $133,003,000 after purchasing an additional 815,389 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of PennyMac Financial Services in the 3rd quarter valued at about $24,644,000. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of PennyMac Financial Services during the 3rd quarter worth approximately $21,890,000. Edgestream Partners L.P. raised its stake in shares of PennyMac Financial Services by 256.9% during the second quarter. Edgestream Partners L.P. now owns 84,861 shares of the real estate investment trust’s stock worth $8,028,000 after buying an additional 61,087 shares during the last quarter. Finally, State Street Corp lifted its holdings in 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 valued at $103,911,000 after buying an additional 51,777 shares during the period. Institutional investors own 57.87% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wedbush reissued an “outperform” rating and issued a $130.00 target price on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Wells Fargo & Company increased their price objective on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Barclays boosted their target price on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Piper Sandler increased their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods reduced their price target on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $122.50.

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.