Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) Insider Sells 588 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Derek Stark sold 588 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $101.52, for a total value of $59,693.76. Following the sale, the insider now owns 25,621 shares of the company’s stock, valued at approximately $2,601,043.92. This represents a 2.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Derek Stark also recently made the following trade(s):

• On Friday, February 28th, Derek Stark sold 2,110 shares of PennyMac Financial Services stock. The shares were sold at an average price of $103.07, for a total value of $217,477.70.

PennyMac Financial Services Trading Down 1.8 %

Shares of PennyMac Financial Services stock opened at $101.74 on Wednesday. The firm’s 50-day moving average price is $103.64 and its two-hundred day moving average price is $105.15. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 0.19 and a beta of 1.78. 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, Inc. has a 12-month low of $83.03 and a 12-month high of $119.13.

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

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services’s payout ratio is 20.55%.

Institutional Investors Weigh In On PennyMac Financial Services

Hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC boosted its position in PennyMac Financial Services by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 7,530 shares of the real estate investment trust’s stock valued at $769,000 after buying an additional 2,478 shares in the last quarter. Millennium Management LLC increased its holdings in PennyMac Financial Services by 104.5% in the 4th quarter. Millennium Management LLC now owns 518,574 shares of the real estate investment trust’s stock worth $52,967,000 after purchasing an additional 264,956 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of PennyMac Financial Services by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,217 shares of the real estate investment trust’s stock worth $1,554,000 after purchasing an additional 606 shares during the last quarter. Interval Partners LP increased its stake in shares of PennyMac Financial Services by 379.7% in the fourth quarter. Interval Partners LP now owns 39,320 shares of the real estate investment trust’s stock valued at $4,016,000 after buying an additional 31,123 shares during the period. Finally, Crestline Management LP acquired a new stake in PennyMac Financial Services during the 4th quarter worth approximately $974,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PFSI shares. Piper Sandler dropped their target price on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a 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 analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, PennyMac Financial Services currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.17.

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.