PennyMac Financial Services, Inc. (NYSE:PFSI) Insider Derek Stark Sells 588 Shares

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

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 stock was sold at an average price of $103.07, for a total transaction of $217,477.70.

PennyMac Financial Services Price Performance

NYSE PFSI opened at $102.88 on Thursday. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. PennyMac Financial Services, Inc. has a 1 year low of $83.03 and a 1 year high of $119.13. The company has a market cap of $5.29 billion, a PE ratio of 17.62, a PEG ratio of 0.19 and a beta of 1.78. The stock’s 50-day moving average price is $103.64 and its two-hundred day moving average price is $105.15.

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

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.17%. PennyMac Financial Services’s payout ratio is currently 20.55%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 10th. Piper Sandler decreased their price target on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. One research 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. Based on data from MarketBeat.com, PennyMac Financial Services presently has an average rating of “Moderate Buy” and a consensus target price of $122.17.

Institutional Trading of PennyMac Financial Services

Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp lifted its stake in PennyMac Financial Services by 6.0% in the 3rd quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after acquiring an additional 51,777 shares in the last quarter. JPMorgan Chase & Co. lifted its position 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 purchasing an additional 21,751 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of PennyMac Financial Services in the third quarter worth approximately $614,000. HighTower Advisors LLC acquired a new stake in shares of PennyMac Financial Services during the third quarter worth approximately $702,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in PennyMac Financial Services during the third quarter valued at approximately $24,644,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

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.