Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) Insider Sells 992 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider James Follette sold 992 shares of PennyMac Financial Services stock in a transaction that occurred on Thursday, March 6th. The stock was 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 directly owns 7,338 shares in the company, valued at $739,743.78. This trade represents a 11.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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 shares were sold at an average price of $99.93, for a total transaction of $198,161.19.

PennyMac Financial Services Stock Up 0.8 %

PFSI opened at $101.82 on Friday. The company has a fifty day moving average price of $103.61 and a 200-day moving average price of $105.17. The firm has a market capitalization of $5.24 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. 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 released 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 net margin of 19.54% and a return on equity of 16.61%. Equities research analysts expect that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal 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. The ex-dividend date was Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.18%. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 20.55%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. purchased a new position in shares of PennyMac Financial Services during the 3rd quarter valued at $37,000. TD Waterhouse Canada Inc. purchased a new position in PennyMac Financial Services in the fourth quarter worth $39,000. Sterling Capital Management LLC grew its position in PennyMac Financial Services by 601.8% in the fourth 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 in the last quarter. Aquatic Capital Management LLC purchased a new position in PennyMac Financial Services in the fourth quarter worth $71,000. Finally, Parkside Financial Bank & Trust grew its position in PennyMac Financial Services by 54.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 389 shares in the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on PFSI. Keefe, Bruyette & Woods reduced their price objective on shares of 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 price objective on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research note on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.17.

About PennyMac Financial Services

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.