Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) Director Sells $862,000.35 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 8,373 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $102.95, for a total value of $862,000.35. Following the transaction, the director now directly owns 19,056 shares in the company, valued at $1,961,815.20. This represents a 30.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Doug Jones also recently made the following trade(s):

• On Thursday, December 26th, Doug Jones sold 7,882 shares of PennyMac Financial Services stock. The shares were sold at an average price of $103.16, for a total value of $813,107.12.
• 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 transaction of $61,224.00.
• On Tuesday, December 24th, Doug Jones sold 23,229 shares of PennyMac Financial Services stock. The shares were sold at an average price of $101.51, for a total transaction of $2,357,975.79.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock opened at $101.82 on Monday. PennyMac Financial Services, Inc. has a 1-year low of $83.03 and a 1-year high of $119.13. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The firm has a market capitalization of $5.24 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. The firm’s 50 day simple moving average is $103.61 and its 200 day simple moving average is $105.21.

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 for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. As a group, analysts expect 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 declared a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were issued a $0.30 dividend. The ex-dividend date was Thursday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.18%. PennyMac Financial Services’s payout ratio is currently 20.55%.

Wall Street Analyst Weigh In

Several research firms recently commented on PFSI. 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. Piper Sandler cut their price target 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $122.17.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. purchased a new stake in PennyMac Financial Services in the third quarter valued at approximately $37,000. TD Waterhouse Canada Inc. purchased a new stake in shares of PennyMac Financial Services during the 4th quarter valued at $39,000. Sterling Capital Management LLC raised its position in shares of PennyMac Financial Services by 601.8% during the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 343 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in shares of PennyMac Financial Services during the 4th quarter worth $71,000. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of PennyMac Financial Services by 54.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust’s stock worth $112,000 after acquiring an additional 389 shares during the last quarter. Hedge funds and other institutional investors 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.