Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) Insider Sells 2,110 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Derek Stark sold 2,110 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $103.07, for a total value of $217,477.70. Following the sale, the insider now directly owns 26,209 shares in the company, valued at $2,701,361.63. The trade was a 7.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Derek Stark also recently made the following trade(s):

• On Tuesday, March 4th, Derek Stark sold 588 shares of PennyMac Financial Services stock. The stock was sold at an average price of $101.52, for a total value of $59,693.76.

PennyMac Financial Services Stock Down 1.8 %

Shares of NYSE PFSI traded down $1.88 during mid-day trading on Tuesday, hitting $101.74. The company had a trading volume of 322,828 shares, compared to its average volume of 343,774. The company has a market capitalization of $5.23 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 0.19 and a beta of 1.78. The firm has a 50-day simple moving average of $103.64 and a two-hundred day simple moving average of $105.15. 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, Inc. has a one year low of $83.03 and a one year high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. On average, equities analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared 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. This represents a $1.20 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services’s payout ratio is currently 20.55%.

Hedge Funds Weigh In On PennyMac Financial Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC grew its holdings in PennyMac Financial Services by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 7,530 shares of the real estate investment trust’s stock worth $769,000 after purchasing an additional 2,478 shares during the period. Millennium Management LLC raised its position in shares of PennyMac Financial Services by 104.5% in the fourth quarter. Millennium Management LLC now owns 518,574 shares of the real estate investment trust’s stock valued at $52,967,000 after buying an additional 264,956 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of PennyMac Financial Services by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,217 shares of the real estate investment trust’s stock valued at $1,554,000 after buying an additional 606 shares in the last quarter. Interval Partners LP raised its position in shares of PennyMac Financial Services by 379.7% in the fourth quarter. Interval Partners LP now owns 39,320 shares of the real estate investment trust’s stock valued at $4,016,000 after buying an additional 31,123 shares in the last quarter. Finally, Crestline Management LP acquired a new stake in shares of PennyMac Financial Services in the fourth quarter valued at approximately $974,000. Institutional investors own 57.87% of the company’s stock.

Analyst Upgrades and Downgrades

PFSI has been the subject of a number of research reports. Keefe, Bruyette & Woods lowered their target price 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. 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.