PennyMac Financial Services, Inc. (NYSE:PFSI) Insider James Follette Sells 992 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) insider James Follette sold 992 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $100.81, for a total value of $100,003.52. Following the sale, the insider now owns 7,338 shares of the company's stock, valued at approximately $739,743.78. This trade represents a 11.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

James Follette also recently made the following trade(s):

• On Tuesday, February 25th, James Follette sold 1,983 shares of PennyMac Financial Services stock. The stock was sold at an average price of $99.93, for a total value of $198,161.19.

PennyMac Financial Services Stock Up 0.8 %

Shares of NYSE PFSI traded up $0.81 during mid-day trading on Friday, hitting $101.82. The company had a trading volume of 256,854 shares, compared to its average volume of 339,433. The company has a market capitalization of $5.24 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. PennyMac Financial Services, Inc. has a 1-year low of $83.03 and a 1-year high of $119.13. The business's 50-day simple moving average is $103.61 and its 200 day simple moving average is $105.17.

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

PennyMac Financial Services Dividend Announcement

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

Hedge Funds Weigh In On PennyMac Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. purchased a new position in shares of PennyMac Financial Services during the third quarter worth about $37,000. TD Waterhouse Canada Inc. purchased a new position in shares of PennyMac Financial Services during the fourth quarter worth about $39,000. Sterling Capital Management LLC grew its holdings in shares of PennyMac Financial Services by 601.8% during the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock worth $41,000 after buying an additional 343 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in shares of PennyMac Financial Services during the fourth quarter worth about $71,000. Finally, Parkside Financial Bank & Trust grew its holdings in shares of PennyMac Financial Services by 54.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust's stock worth $112,000 after buying an additional 389 shares during the last quarter. Hedge funds and other institutional investors own 57.87% of the company's stock.

Analyst Upgrades and Downgrades

PFSI has been the topic of a number of research reports. Piper Sandler decreased their price target on PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. Keefe, Bruyette & Woods decreased their price target on PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating on the stock in a research note on Tuesday, December 10th. 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. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.