Insider Selling: PennyMac Financial Services (NYSE:PFSI) Director Sells $2,991,664.68 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) Director Doug Jones sold 23,453 shares of PennyMac Financial Services stock in a transaction on Monday, November 10th. The stock was sold at an average price of $127.56, for a total transaction of $2,991,664.68. Following the completion of the transaction, the director directly owned 19,056 shares of the company’s stock, valued at approximately $2,430,783.36. This represents a 55.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, November 5th, Doug Jones sold 4,318 shares of PennyMac Financial Services stock. The stock was sold at an average price of $126.09, for a total transaction of $544,456.62.

PennyMac Financial Services Trading Down 0.1%

NYSE PFSI opened at $126.96 on Friday. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.36 and a current ratio of 0.36. PennyMac Financial Services, Inc. has a one year low of $85.74 and a one year high of $134.56. The company has a 50-day simple moving average of $123.85 and a 200-day simple moving average of $108.32. The firm has a market capitalization of $6.60 billion, a PE ratio of 13.68 and a beta of 1.56.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.98 by $0.39. The firm had revenue of $632.90 million for the quarter, compared to analysts’ expectations of $573.46 million. PennyMac Financial Services had a net margin of 25.21% and a return on equity of 11.69%. PennyMac Financial Services’s revenue was up 53.7% on a year-over-year basis. During the same quarter last year, the company posted $1.30 earnings per share. On average, equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 17th will be given a dividend of $0.30 per share. The ex-dividend date is Monday, November 17th. This represents a $1.20 dividend on an annualized basis and a yield of 0.9%. PennyMac Financial Services’s payout ratio is currently 12.93%.

Hedge Funds Weigh In On PennyMac Financial Services

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC bought a new stake in shares of PennyMac Financial Services during the 2nd quarter worth about $26,000. CWM LLC raised its holdings in PennyMac Financial Services by 71.5% during the first quarter. CWM LLC now owns 271 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 113 shares in the last quarter. Strs Ohio acquired a new stake in PennyMac Financial Services in the first quarter worth approximately $30,000. Bayforest Capital Ltd bought a new position in PennyMac Financial Services during the 2nd quarter valued at $62,000. Finally, Harbor Capital Advisors Inc. increased its position in shares of PennyMac Financial Services by 26.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 504 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 105 shares during the period. Institutional investors own 57.87% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PFSI shares. BTIG Research reaffirmed a “buy” rating and issued a $135.00 target price on shares of PennyMac Financial Services in a research report on Wednesday, October 22nd. Wall Street Zen raised shares of PennyMac Financial Services from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Barclays boosted their target price on shares of PennyMac Financial Services from $136.00 to $139.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Weiss Ratings restated a “hold (c+)” rating on shares of PennyMac Financial Services in a research note on Friday, October 31st. Finally, UBS Group lifted their price target on PennyMac Financial Services from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Four equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.67.

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.