Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) Director Sells $2,357,975.79 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 23,229 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $101.51, for a total transaction of $2,357,975.79. Following the completion of the sale, the director now directly owns 23,892 shares of the company’s stock, valued at approximately $2,425,276.92. This represents a 49.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $102.04, for a total value of $61,224.00.

PennyMac Financial Services Price Performance

Shares of PFSI stock opened at $102.07 on Friday. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 32.40 and a beta of 1.78. PennyMac Financial Services, Inc. has a 12-month low of $81.93 and a 12-month 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 firm has a fifty day moving average of $103.54 and a 200-day moving average of $102.41.

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 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 business 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 earned $1.77 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts forecast that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Monday, November 18th. PennyMac Financial Services’s payout ratio is currently 38.10%.

Institutional Investors Weigh In On PennyMac Financial Services

Several large investors have recently made changes to their positions in the stock. KBC Group NV boosted its stake in 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 worth $153,000 after purchasing an additional 226 shares during the period. Blue Trust Inc. lifted its holdings in shares of PennyMac Financial Services by 59.5% in the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 262 shares in the last quarter. Quantbot Technologies LP boosted its position in shares of PennyMac Financial Services by 23.7% during the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 290 shares during the period. Harbor Capital Advisors Inc. bought a new position in shares of PennyMac Financial Services during the third quarter worth about $37,000. Finally, Arizona State Retirement System grew its holdings in shares of PennyMac Financial Services by 2.9% during the second quarter. Arizona State Retirement System now owns 11,999 shares of the real estate investment trust’s stock worth $1,135,000 after buying an additional 336 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PFSI shares. Wells Fargo & Company boosted 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. Piper Sandler boosted 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 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. Barclays lifted their target price on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Wedbush reissued an “outperform” rating and issued a $130.00 price target on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, PennyMac Financial Services has an average rating of “Moderate Buy” and an average target price of $122.50.

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.