Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) Director Sells 23,229 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 23,229 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $101.51, for a total value of $2,357,975.79. Following the transaction, the director now owns 23,892 shares of the company’s stock, valued at approximately $2,425,276.92. The trade was a 49.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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 value of $61,224.00.

PennyMac Financial Services Stock Up 0.8 %

PFSI stock traded up $0.79 during trading on Thursday, hitting $102.97. 257,954 shares of the company’s stock traded hands, compared to its average volume of 258,156. The firm has a market capitalization of $5.28 billion, a P/E ratio of 32.69 and a beta of 1.78. PennyMac Financial Services, Inc. has a 1 year low of $81.93 and a 1 year high of $119.13. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The business has a fifty day simple moving average of $103.84 and a two-hundred day simple moving average of $102.32.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). The company had revenue of $411.83 million during the quarter, compared to analysts’ expectations of $513.12 million. PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.77 earnings per share. Sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The company 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. The ex-dividend date was Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. PennyMac Financial Services’s payout ratio is 38.10%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PFSI shares. Piper Sandler raised their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods reduced their target price on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 10th. Wedbush reiterated an “outperform” rating and issued a $130.00 price target on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Wells Fargo & Company raised their price objective on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Finally, Barclays upped their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. 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 stock. According to MarketBeat.com, PennyMac Financial Services has an average rating of “Moderate Buy” and a consensus price target of $122.50.

Institutional Investors Weigh In On PennyMac Financial Services

Institutional investors have recently bought and sold shares of the company. FMR LLC grew its stake in shares of PennyMac Financial Services by 231.9% during the third quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock worth $133,003,000 after acquiring an additional 815,389 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of PennyMac Financial Services by 2.3% in the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock worth $108,809,000 after buying an additional 21,751 shares during the last quarter. State Street Corp lifted its stake in shares of PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after buying an additional 51,777 shares during the period. Geode Capital Management LLC grew its holdings in shares of PennyMac Financial Services by 3.1% during the third quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust’s stock valued at $73,841,000 after buying an additional 19,662 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of PennyMac Financial Services by 7.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust’s stock valued at $50,985,000 after acquiring an additional 31,035 shares during the period. 57.87% of the stock is currently owned by institutional investors and hedge funds.

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.