PennyMac Financial Services, Inc. (NYSE:PFSI) Insider James Follette Sells 992 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) insider James Follette sold 992 shares of PennyMac Financial Services stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $100.81, for a total transaction of $100,003.52. Following the completion of the transaction, the insider now owns 7,338 shares of the company’s stock, valued at $739,743.78. This represents a 11.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

James Follette also recently made the following trade(s):

• On Tuesday, February 25th, James Follette sold 1,983 shares of PennyMac Financial Services stock. The shares were sold at an average price of $99.93, for a total transaction of $198,161.19.

PennyMac Financial Services Stock Performance

NYSE PFSI opened at $101.82 on Monday. PennyMac Financial Services, Inc. has a 52-week low of $83.03 and a 52-week high of $119.13. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. The company has a market capitalization of $5.24 billion, a P/E ratio of 17.43, a P/E/G ratio of 0.19 and a beta of 1.90. The company has a fifty day moving average of $103.61 and a 200-day moving average of $105.21.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. As a group, equities research analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business 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 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 dividend payout ratio is currently 20.55%.

Analyst Ratings Changes

Several research analysts have commented on PFSI shares. Piper Sandler cut 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 report on Friday, January 31st. Keefe, Bruyette & Woods cut 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 report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, PennyMac Financial Services has a consensus rating of “Moderate Buy” and an average price target of $122.17.

Institutional Trading of PennyMac Financial Services

A number of hedge funds have recently made changes to their positions in PFSI. Harbor Capital Advisors Inc. bought a new stake in shares of PennyMac Financial Services during the 3rd quarter worth $37,000. Summit Global Investments bought a new stake in PennyMac Financial Services in the third quarter worth $605,000. GSA Capital Partners LLP bought a new stake in PennyMac Financial Services in the third quarter worth $347,000. Aigen Investment Management LP bought a new stake in PennyMac Financial Services in the third quarter worth $280,000. Finally, KBC Group NV lifted its stake in 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 worth $153,000 after purchasing an additional 226 shares during the last quarter. 57.87% of the stock is owned by institutional investors.

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.