Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) Director Sells 30,000 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSIGet Free Report) Director Doug Jones sold 30,000 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $91.49, for a total transaction of $2,744,700.00. Following the completion of the transaction, the director now directly owns 480,000 shares in the company, valued at approximately $43,915,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

  • On Monday, March 11th, Doug Jones sold 17,079 shares of PennyMac Financial Services stock. The stock was sold at an average price of $86.10, for a total transaction of $1,470,501.90.

PennyMac Financial Services Price Performance

Shares of PennyMac Financial Services stock traded up $1.19 during trading on Friday, hitting $91.29. The stock had a trading volume of 161,704 shares, compared to its average volume of 237,950. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.39 and a quick ratio of 0.39. The firm has a market cap of $4.65 billion, a P/E ratio of 31.79, a PEG ratio of 0.59 and a beta of 1.68. The business has a fifty day moving average of $89.75 and a two-hundred day moving average of $86.28. PennyMac Financial Services, Inc. has a fifty-two week low of $58.65 and a fifty-two week high of $94.80.

PennyMac Financial Services (NYSE:PFSIGet Free Report) last announced its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, beating the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. The business had revenue of $305.66 million during the quarter, compared to the consensus estimate of $422.87 million. On average, sell-side analysts expect that PennyMac Financial Services, Inc. will post 10.55 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Monday, May 13th. PennyMac Financial Services’s payout ratio is currently 27.78%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its holdings in shares of PennyMac Financial Services by 2.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,691,512 shares of the real estate investment trust’s stock valued at $237,851,000 after acquiring an additional 70,178 shares during the last quarter. Vanguard Group Inc. boosted its stake in PennyMac Financial Services by 0.3% during the 1st quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust’s stock valued at $238,509,000 after purchasing an additional 8,345 shares during the period. Invesco Ltd. boosted its stake in PennyMac Financial Services by 47.6% during the 3rd quarter. Invesco Ltd. now owns 490,297 shares of the real estate investment trust’s stock valued at $32,654,000 after purchasing an additional 158,181 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in PennyMac Financial Services by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 396,745 shares of the real estate investment trust’s stock valued at $35,060,000 after purchasing an additional 3,947 shares during the period. Finally, Norges Bank bought a new stake in PennyMac Financial Services during the 4th quarter valued at approximately $31,258,000. 57.87% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. StockNews.com lowered shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Tuesday. Barclays boosted their price objective on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft decreased their price objective on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Wedbush reiterated an “outperform” rating and issued a $110.00 price objective on shares of PennyMac Financial Services in a research report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods lowered their target price on PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.75.

Read Our Latest Stock Report on PFSI

About PennyMac Financial Services

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for PennyMac Financial Services (NYSE:PFSI)

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