Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) Insider Sells $1,651,514.40 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Steven Richard Bailey sold 14,130 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $116.88, for a total transaction of $1,651,514.40. Following the transaction, the insider now owns 14,670 shares in the company, valued at approximately $1,714,629.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock opened at $111.79 on Friday. PennyMac Financial Services, Inc. has a twelve month low of $62.15 and a twelve month high of $119.13. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.75. The company has a market capitalization of $5.72 billion, a P/E ratio of 38.82, a PEG ratio of 0.75 and a beta of 1.77. The stock’s 50 day moving average is $102.58 and its 200 day moving average is $94.52.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). The company had revenue of $406.13 million during the quarter, compared to analysts’ expectations of $469.64 million. PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The company’s revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.11 earnings per share. On average, equities research analysts predict that PennyMac Financial Services, Inc. will post 10.61 earnings per share for the current fiscal year.

PennyMac Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.30 per share. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. This represents a $1.20 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Tuesday, August 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 41.67%.

Analyst Upgrades and Downgrades

PFSI has been the topic of several research reports. Piper Sandler lifted their price objective on PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Wedbush increased their price objective on PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods lowered PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price objective for the company. in a research report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $107.17.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PFSI. Hexagon Capital Partners LLC increased its position in shares of PennyMac Financial Services by 29.6% during the second quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 109 shares in the last quarter. QRG Capital Management Inc. boosted its stake in PennyMac Financial Services by 0.7% during the 1st quarter. QRG Capital Management Inc. now owns 33,892 shares of the real estate investment trust’s stock valued at $3,087,000 after purchasing an additional 232 shares during the last quarter. MorganRosel Wealth Management LLC increased its holdings in shares of PennyMac Financial Services by 2.2% in the 1st quarter. MorganRosel Wealth Management LLC now owns 10,811 shares of the real estate investment trust’s stock worth $985,000 after purchasing an additional 236 shares in the last quarter. Arizona State Retirement System raised its stake in shares of PennyMac Financial Services by 2.9% in the second quarter. Arizona State Retirement System now owns 11,999 shares of the real estate investment trust’s stock worth $1,135,000 after purchasing an additional 336 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of PennyMac Financial Services by 8.5% during the first quarter. ProShare Advisors LLC now owns 4,587 shares of the real estate investment trust’s stock valued at $418,000 after purchasing an additional 361 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

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.