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

PennyMac Financial Services, Inc. (NYSE:PFSI) insider James Follette sold 1,983 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The stock was 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 in the company, valued at $1,048,965.21. This represents a 15.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

PennyMac Financial Services Price Performance

Shares of PennyMac Financial Services stock traded down $1.16 during trading on Thursday, reaching $102.02. 287,234 shares of the company’s stock were exchanged, compared to its average volume of 346,561. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. PennyMac Financial Services, Inc. has a 1-year low of $83.03 and a 1-year high of $119.13. The company has a market cap of $5.23 billion, a P/E ratio of 17.47, a PEG ratio of 0.19 and a beta of 1.78. The firm’s 50-day moving average price is $103.52 and its 200 day moving average price is $104.96.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 EPS 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%. As a group, research analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

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

Institutional Trading of PennyMac Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp grew its position in PennyMac Financial Services by 6.0% during the 3rd quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after acquiring an additional 51,777 shares during the last quarter. JPMorgan Chase & Co. increased its stake 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 valued at $108,809,000 after buying an additional 21,751 shares during the period. XTX Topco Ltd bought a new position in PennyMac Financial Services in the 3rd quarter valued at approximately $614,000. HighTower Advisors LLC acquired a new stake in PennyMac Financial Services during the 3rd quarter worth approximately $702,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in PennyMac Financial Services during the 3rd quarter worth approximately $24,644,000. Institutional investors own 57.87% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PFSI. Keefe, Bruyette & Woods dropped their price target on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating for the company in a research note on Tuesday, December 10th. Piper Sandler decreased their target price on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently 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.