Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) Director Sells 7,882 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 7,882 shares of PennyMac Financial Services stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $103.16, for a total transaction of $813,107.12. Following the completion of the sale, the director now directly owns 450,000 shares in the company, valued at approximately $46,422,000. This represents a 1.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Doug Jones also recently made the following trade(s):

• On Friday, December 20th, Doug Jones sold 600 shares of PennyMac Financial Services stock. The stock was sold at an average price of $102.04, for a total transaction of $61,224.00.
• On Tuesday, December 24th, Doug Jones sold 23,229 shares of PennyMac Financial Services stock. The shares were sold at an average price of $101.51, for a total value of $2,357,975.79.

PennyMac Financial Services Trading Down 0.9 %

Shares of PennyMac Financial Services stock opened at $102.07 on Monday. The company’s 50-day moving average price is $103.54 and its 200-day moving average price is $102.51. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75. PennyMac Financial Services, Inc. has a 12-month low of $81.93 and a 12-month high of $119.13. 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 posted its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.92 by ($1.62). The firm had revenue of $411.83 million during 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 business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.77 earnings per share. On average, equities 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.18%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services’s payout ratio is 38.10%.

Institutional Trading of PennyMac Financial Services

Several institutional investors and hedge funds have recently modified their holdings of the business. Harbor Capital Advisors Inc. bought a new position in shares of PennyMac Financial Services in the third quarter worth approximately $37,000. Blue Trust Inc. grew its stake in PennyMac Financial Services by 59.5% in the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 262 shares in the last quarter. KBC Group NV increased its holdings in shares of PennyMac Financial Services by 20.3% in the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 226 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of PennyMac Financial Services by 23.7% in the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 290 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of PennyMac Financial Services during the 3rd quarter valued at $203,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Wall Street Analyst Weigh In

PFSI has been the topic of several research reports. Wells Fargo & Company boosted their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Wedbush reaffirmed an “outperform” rating and set a $130.00 price objective on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Keefe, Bruyette & Woods cut their target price on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research report on Tuesday, December 10th. Barclays boosted their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Piper Sandler lifted their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.