Mark Elbaum Sells 410 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Mark Elbaum sold 410 shares of the firm’s stock in a transaction on Friday, April 4th. The shares were sold at an average price of $102.88, for a total transaction of $42,180.80. Following the completion of the transaction, the insider now directly owns 4,207 shares of the company’s stock, valued at approximately $432,816.16. This trade represents a 8.88 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

PennyMac Financial Services Stock Performance

Shares of PFSI stock traded down $7.94 on Monday, reaching $95.75. The stock had a trading volume of 1,005,964 shares, compared to its average volume of 290,230. PennyMac Financial Services, Inc. has a 12 month low of $83.03 and a 12 month high of $119.13. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 0.19 and a beta of 1.73. The firm’s 50-day moving average is $102.33 and its two-hundred day moving average is $104.09. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (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%. On average, research analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business 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 was Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.25%. PennyMac Financial Services’s dividend payout ratio (DPR) is 20.55%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. 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 target on 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PennyMac Financial Services currently has an average rating of “Moderate Buy” and an average price target of $122.17.

Hedge Funds Weigh In On PennyMac Financial Services

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of PennyMac Financial Services by 7.4% during the 4th quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust’s stock worth $294,835,000 after buying an additional 199,667 shares during the period. FMR LLC boosted its holdings in shares of PennyMac Financial Services by 11.9% during the fourth quarter. FMR LLC now owns 1,305,851 shares of the real estate investment trust’s stock worth $133,380,000 after acquiring an additional 138,853 shares during the period. Invesco Ltd. grew its position in shares of PennyMac Financial Services by 0.3% in the fourth quarter. Invesco Ltd. now owns 1,183,458 shares of the real estate investment trust’s stock valued at $120,878,000 after purchasing an additional 3,527 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of PennyMac Financial Services by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock worth $108,809,000 after purchasing an additional 21,751 shares during the period. Finally, State Street Corp lifted its holdings in PennyMac Financial Services by 6.0% during the 3rd quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after purchasing an additional 51,777 shares during the last quarter. 57.87% of the stock is 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.