Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) Director Sells $813,107.12 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 7,882 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $103.16, for a total transaction of $813,107.12. Following the sale, the director now directly owns 450,000 shares in the company, valued at $46,422,000. This trade represents a 1.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• 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.
• On Tuesday, December 24th, Doug Jones sold 23,229 shares of PennyMac Financial Services stock. The stock was sold at an average price of $101.51, for a total value of $2,357,975.79.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI opened at $102.07 on Monday. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 32.40 and a beta of 1.78. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. PennyMac Financial Services, Inc. has a fifty-two week low of $81.93 and a fifty-two week high of $119.13. The firm’s 50-day simple moving average is $103.54 and its 200 day simple moving average is $102.51.

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

PennyMac Financial Services Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. bought a new stake in PennyMac Financial Services in the 3rd quarter worth about $37,000. Blue Trust Inc. boosted its stake in shares of PennyMac Financial Services by 59.5% in the 3rd quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock worth $80,000 after buying an additional 262 shares during the last quarter. KBC Group NV grew its holdings in shares of PennyMac Financial Services by 20.3% in the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock valued at $153,000 after acquiring an additional 226 shares in the last quarter. Quantbot Technologies LP increased 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 valued at $173,000 after acquiring an additional 290 shares during the last quarter. Finally, Verition Fund Management LLC bought a new stake in PennyMac Financial Services during the third quarter worth $203,000. 57.87% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PFSI shares. Wedbush restated an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Piper Sandler lifted their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Wells Fargo & Company increased their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods decreased their target price on 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. Finally, Barclays increased their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, PennyMac Financial Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.50.

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.