Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) Insider Sells $198,161.19 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider James Follette sold 1,983 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total value of $198,161.19. Following the completion of the transaction, the insider now directly owns 10,497 shares in the company, valued at approximately $1,048,965.21. This represents a 15.89 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

PennyMac Financial Services Stock Up 1.5 %

Shares of NYSE PFSI opened at $103.61 on Friday. The stock has a market capitalization of $5.31 billion, a P/E ratio of 17.74, a PEG ratio of 0.19 and a beta of 1.78. The stock’s fifty day moving average is $103.60 and its 200 day moving average is $105.04. PennyMac Financial Services, Inc. has a 52 week low of $83.03 and a 52 week high of $119.13. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. Sell-side analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.16%. PennyMac Financial Services’s dividend payout ratio is currently 20.55%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PFSI shares. Piper Sandler reduced their target price on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. Keefe, Bruyette & Woods cut 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 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 issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $122.17.

Institutional Investors Weigh In On PennyMac Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. bought a new position in shares of PennyMac Financial Services in the 3rd quarter valued at $37,000. TD Waterhouse Canada Inc. acquired a new stake in PennyMac Financial Services in the fourth quarter valued at about $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 valued at $41,000 after acquiring an additional 343 shares during the last quarter. Aquatic Capital Management LLC acquired a new position in PennyMac Financial Services during the fourth quarter worth about $71,000. Finally, Blue Trust Inc. lifted its holdings in shares of PennyMac Financial Services by 59.5% in the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 262 shares during the last quarter. 57.87% of the stock is currently owned by institutional investors.

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.