PennyMac Financial Services, Inc. (NYSE:PFSI) Insider Derek Stark Sells 588 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) insider Derek Stark sold 588 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $101.52, for a total value of $59,693.76. Following the transaction, the insider now directly owns 25,621 shares of the company's stock, valued at approximately $2,601,043.92. This represents a 2.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Derek Stark also recently made the following trade(s):

• On Friday, February 28th, Derek Stark sold 2,110 shares of PennyMac Financial Services stock. The stock was sold at an average price of $103.07, for a total value of $217,477.70.

PennyMac Financial Services Price Performance

PFSI stock traded up $0.81 on Friday, reaching $101.82. 256,854 shares of the company's stock were exchanged, compared to its average volume of 339,433. The stock has a fifty day moving average of $103.61 and a 200-day moving average of $105.10. PennyMac Financial Services, Inc. has a twelve month low of $83.03 and a twelve month high of $119.13. The firm has a market cap of $5.24 billion, a PE ratio of 17.43, a P/E/G ratio of 0.19 and a beta of 1.90. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22.

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PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share 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 analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Investors 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 yield of 1.18%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services's dividend payout ratio is presently 20.55%.

Institutional Trading of PennyMac Financial Services

Large investors have recently bought and sold shares of the company. State Street Corp grew its holdings in PennyMac Financial Services by 6.0% in the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust's stock valued at $103,911,000 after purchasing an additional 51,777 shares during the last quarter. JPMorgan Chase & Co. lifted its position in PennyMac Financial Services by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust's stock worth $108,809,000 after buying an additional 21,751 shares during the period. XTX Topco Ltd purchased a new position in PennyMac Financial Services during the third quarter worth about $614,000. HighTower Advisors LLC purchased a new position in PennyMac Financial Services during the third quarter worth about $702,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in PennyMac Financial Services during the third quarter worth about $24,644,000. Institutional investors and hedge funds own 57.87% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods decreased their target price 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 PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating for the company in a research note on Friday, January 31st. One 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $122.17.

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.