Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Sells 3,032 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CAO Gregory L. Hendry sold 3,032 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $102.09, for a total transaction of $309,536.88. Following the transaction, the chief accounting officer now directly owns 48,040 shares in the company, valued at approximately $4,904,403.60. This represents a 5.94 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

PennyMac Financial Services Price Performance

NYSE PFSI traded up $1.19 during trading on Friday, reaching $105.14. The company’s stock had a trading volume of 12,819 shares, compared to its average volume of 257,045. The firm has a fifty day moving average of $106.96 and a 200 day moving average of $100.09. PennyMac Financial Services, Inc. has a one year low of $76.57 and a one year high of $119.13. The stock has a market capitalization of $5.39 billion, a PE ratio of 33.00 and a beta of 1.79. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The company had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. During the same quarter last year, the company posted $1.77 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. Analysts expect that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, November 18th. PennyMac Financial Services’s dividend payout ratio is currently 38.10%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Piper Sandler raised their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Barclays increased their target price on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Wells Fargo & Company upped their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Wedbush reiterated an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $115.86.

Institutional Investors Weigh In On PennyMac Financial Services

Large investors have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new position in shares of PennyMac Financial Services during the 3rd quarter valued at about $37,000. Blue Trust Inc. raised its stake in shares of PennyMac Financial Services by 1,529.6% during the second quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock worth $40,000 after acquiring an additional 413 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of PennyMac Financial Services by 29.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 109 shares during the last quarter. KBC Group NV boosted its stake in shares of PennyMac Financial Services by 20.3% in the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after purchasing an additional 226 shares in the last quarter. Finally, Quantbot Technologies LP grew its holdings in shares of PennyMac Financial Services by 23.7% during the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after purchasing an additional 290 shares during the last quarter. Hedge funds and other institutional investors own 57.87% of the company’s stock.

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.