Insider Selling: PennyMac Financial Services, Inc. (NYSE: PFSI) Director Sells 14,295 Shares


PennyMac Financial Services, Inc. (NYSE: PFSI – Get Rating) Director Joseph F. Mazzella sold 14,295 shares of PennyMac Financial Services in a trade dated Tuesday, July 19. The stock was sold at an average price of $50.10, for a total value of $716,179.50. Following completion of the transaction, the director now owns 337,036 shares of the company, valued at approximately $16,885,503.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock opened at $52.09 on Friday. The company has a 50-day moving average price of $46.74 and a 200-day moving average price of $52.97. The company has a debt ratio of 1.63, a quick ratio of 0.31 and a current ratio of 0.31. PennyMac Financial Services, Inc. has a fifty-two week low of $38.53 and a fifty-two week high of $71.52. The company has a market capitalization of $2.89 billion, a PE ratio of 4.18 and a beta of 1.23.

PennyMac Financial Services (NYSE:PFSI – Get Rating) last released its quarterly results on Thursday, May 5. The real estate investment trust reported earnings per share of $2.94 for the quarter, beating the consensus estimate of $2.89 by $0.05. PennyMac Financial Services posted a net margin of 27.78% and a return on equity of 25.12%. The company posted revenue of $657.50 million in the quarter, versus a consensus estimate of $622.14 million. In the same quarter a year earlier, the firm posted earnings of $5.15 per share. The company’s revenue was down 30.4% year over year. As a group, stock analysts expect PennyMac Financial Services, Inc. to post earnings per share of 6.83 for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 27. Shareholders of record on Tuesday, May 17 received a dividend of $0.20 per share. This represents an annualized dividend of $0.80 and a dividend yield of 1.54%. The ex-dividend date was Monday, May 16. PennyMac Financial Services’ dividend payout ratio is currently 6.42%.

Analyst upgrades and downgrades

Several research analysts have recently commented on PFSI shares. Barclays lowered its price target on PennyMac Financial Services from $90.00 to $73.00 and set an “overweight” rating for the company in a Monday July 11 research report. JMP Securities lowered its price target on PennyMac Financial Services shares from $75.00 to $65.00 and set a “buy” rating for the company in a Wednesday, May 25 research note. Piper Sandler cut her price target on PennyMac Financial Services shares from $82.00 to $79.00 and set an “overweight” rating for the company in a Tuesday, June 28 research note. Credit Suisse Group lowered its price target on PennyMac Financial Services shares to $66.00 and set a “neutral” rating for the company in a Thursday, May 19 research note. Finally, StockNews.com upgraded PennyMac Financial Services shares from a “sell” to a “hold” rating in a Thursday, May 19 research note. Two equity research analysts gave the stock a hold rating and five gave the company a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $72.17.

PennyMac Financial Services Institutional Trading

Several institutional investors and hedge funds have recently changed their stock holdings. Ensign Peak Advisors Inc bought a new position in PennyMac Financial Services in the fourth quarter worth about $120,000. Gator Capital Management LLC bought a new position in PennyMac Financial Services in the fourth quarter at a value of approximately $5,724,000. Envestnet Asset Management Inc. increased its stake in PennyMac Financial Services by 35.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 16,616 shares of the real estate investment trust worth $1,159,000 after purchasing an additional 4,356 shares last quarter. New Jersey State Joint Pension Fund D increased its stake in PennyMac Financial Services by 10.3% in the fourth quarter. New Jersey State Joint Pension Fund D now owns 43,864 shares of the real estate investment trust worth $3,061,000 after purchasing 4,081 additional shares last quarter. Finally, WINTON GROUP Ltd increased its stake in PennyMac Financial Services by 6.4% in the fourth quarter. WINTON GROUP Ltd now owns 24,382 shares of the real estate investment trust worth $1,701,000 after buying an additional 1,474 shares last quarter. Institutional investors hold 62.61% of the company’s shares.

PennyMac Financial Services Company Profile

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PennyMac Financial Services, Inc, through its subsidiaries, is engaged in the mortgage banking and investment management business in the United States. It operates through three segments: production, maintenance 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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