PennyMac Financial Services, Inc. (NYSE:PFSI) Insider James Follette Sells 1,983 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider James Follette sold 1,983 shares of the stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $99.93, for a total transaction of $198,161.19. Following the transaction, the insider now directly owns 10,497 shares of the company’s stock, valued at $1,048,965.21. This represents a 15.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

PennyMac Financial Services Trading Down 1.1 %

Shares of PFSI stock opened at $102.02 on Friday. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 17.47, a PEG ratio of 0.19 and a beta of 1.78. The company’s fifty day simple moving average is $103.56 and its two-hundred day simple moving average is $104.93. PennyMac Financial Services, Inc. has a 1 year low of $83.03 and a 1 year high of $119.13. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data 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%. As a group, analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

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

Hedge Funds Weigh In On PennyMac Financial Services

Large investors have recently modified their holdings of the company. 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 purchasing an additional 51,777 shares in the last quarter. JPMorgan Chase & Co. increased its holdings 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 during the period. XTX Topco Ltd purchased a new stake in shares of PennyMac Financial Services in the third quarter worth $614,000. HighTower Advisors LLC purchased a new stake in shares of PennyMac Financial Services in the third quarter worth $702,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in PennyMac Financial Services during the third quarter valued at $24,644,000. 57.87% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PFSI. Keefe, Bruyette & Woods reduced their price objective on 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 dropped their price target on 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.