Insider Selling: PennyMac Financial Services (NYSE:PFSI) Insider Sells $174,124.50 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Derek Stark sold 1,903 shares of the firm’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $91.50, for a total transaction of $174,124.50. Following the sale, the insider owned 22,477 shares of the company’s stock, valued at approximately $2,056,645.50. The trade was a 7.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

PennyMac Financial Services Price Performance

Shares of NYSE PFSI opened at $91.79 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.36 and a debt-to-equity ratio of 3.32. The stock has a fifty day simple moving average of $121.95 and a two-hundred day simple moving average of $122.52. PennyMac Financial Services, Inc. has a 1-year low of $85.74 and a 1-year high of $160.36. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 9.87, a price-to-earnings-growth ratio of 0.52 and a beta of 1.54.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Thursday, January 29th. The real estate investment trust reported $1.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.23 by ($1.26). The firm had revenue of $538.01 million during the quarter, compared to the consensus estimate of $639.81 million. PennyMac Financial Services had a net margin of 24.48% and a return on equity of 10.20%. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.95 earnings per share. Analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Monday, February 16th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.3%. PennyMac Financial Services’s dividend payout ratio is 12.90%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC bought a new stake in PennyMac Financial Services during the second quarter valued at $26,000. Strs Ohio purchased a new stake in shares of PennyMac Financial Services in the 1st quarter valued at about $30,000. Los Angeles Capital Management LLC purchased a new stake in shares of PennyMac Financial Services in the 4th quarter valued at about $31,000. GAMMA Investing LLC boosted its position in shares of PennyMac Financial Services by 97.3% during the 4th quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 142 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of PennyMac Financial Services by 26.3% during the third quarter. Harbor Capital Advisors Inc. now owns 504 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 105 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

Wall Street Analysts Forecast Growth

PFSI has been the topic of several research reports. Wells Fargo & Company lowered their price target on shares of PennyMac Financial Services from $150.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. BTIG Research reissued a “buy” rating on shares of PennyMac Financial Services in a report on Friday, January 30th. Jefferies Financial Group assumed coverage on PennyMac Financial Services in a research report on Friday, December 19th. They set a “buy” rating and a $160.00 target price on the stock. Keefe, Bruyette & Woods reduced their price target on PennyMac Financial Services from $143.00 to $115.00 and set a “market perform” rating for the company in a research report on Monday, February 2nd. Finally, Weiss Ratings lowered PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, January 20th. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $139.71.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.