Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) Insider Sells $59,693.76 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Derek Stark sold 588 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $101.52, for a total transaction 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 legal filing with the SEC, which can be accessed through the SEC website.

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

PennyMac Financial Services Stock Performance

NYSE PFSI opened at $101.07 on Friday. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 17.31, a PEG ratio of 0.19 and a beta of 1.78. The company has a 50 day moving average of $103.65 and a 200-day moving average of $105.13. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. PennyMac Financial Services, Inc. has a 1-year low of $83.03 and a 1-year high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data 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%. On average, equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services’s payout ratio is 20.55%.

Institutional Trading of PennyMac Financial Services

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of PennyMac Financial Services by 7.4% during the fourth quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust’s stock valued at $294,835,000 after purchasing an additional 199,667 shares during the last quarter. FMR LLC grew its stake in shares of PennyMac Financial Services by 11.9% during the fourth quarter. FMR LLC now owns 1,305,851 shares of the real estate investment trust’s stock valued at $133,380,000 after purchasing an additional 138,853 shares during the last quarter. Invesco Ltd. grew its stake in shares of PennyMac Financial Services by 0.3% during the fourth quarter. Invesco Ltd. now owns 1,183,458 shares of the real estate investment trust’s stock valued at $120,878,000 after purchasing an additional 3,527 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of PennyMac Financial Services by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock valued at $108,809,000 after purchasing an additional 21,751 shares during the last quarter. Finally, State Street Corp grew its stake in shares of PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock valued at $103,911,000 after purchasing an additional 51,777 shares during the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on PFSI shares. Keefe, Bruyette & Woods dropped their price target on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research report on Tuesday, December 10th. Piper Sandler dropped their price target on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.17.

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.