PennyMac Financial Services Targets Unusually Large Options Trades (NYSE:PFSI)

PennyMac Financial Services, Inc. (NYSE: PFSI – Get Rating) was the recipient of some unusual options trades on Tuesday. Traders bought 10,725 put options on the stock. This represents a 678% increase from the typical daily volume of 1,379 put options.

Insider Activity at PennyMac Financial Services

In related news, Director Joseph F. Mazzella sold 13,000 shares of PennyMac Financial Services in a trade dated Thursday, September 15. The stock was sold at an average price of $54.87, for a total transaction of $713,310.00. Following the transaction, the administrator now directly owns 174,891 shares of the company, valued at $9,596,269.17. The transaction was disclosed in a filing with the SEC, which is available via this hyperlink. In other PennyMac Financial Services news, Director Joseph F. Mazzella sold 13,000 shares of PennyMac Financial Services in a trade dated Thursday, September 15. The stock was sold at an average price of $54.87, for a total transaction of $713,310.00. Following the transaction, the director now owns 174,891 shares of the company, valued at approximately $9,596,269.17. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Additionally, Director Joseph F. Mazzella sold 14,295 shares of PennyMac Financial Services in a trade dated Tuesday, July 19. The shares were sold at an average price of $50.10, for a total value of $716,179.50. Following the sale, the director now owns 337,036 shares of the company, valued at $16,885,503.60. The disclosure of this sale can be found here. Insiders sold a total of 85,941 shares of the company worth $4,848,629 over the past three months. 18.00% of the shares are held by insiders of the company.

PennyMac Financial Services Institutional Trading

Institutional investors and hedge funds have recently been buying and selling stocks. Nisa Investment Advisors LLC bought a new position in PennyMac Financial Services in the second quarter worth about $25,000. Point72 Hong Kong Ltd acquired a new stake in PennyMac Financial Services in Q4 for $58,000. Ensign Peak Advisors Inc bought a new position in PennyMac Financial Services during the fourth quarter worth approximately $120,000. Captrust Financial Advisors increased its holdings of PennyMac Financial Services shares by 75.9% in the second quarter. Captrust Financial Advisors now owns 2,890 shares of the real estate investment trust worth $126,000 after buying 1,247 additional shares in the last quarter. Finally, the Canada Pension Plan Investment Board increased its position in PennyMac Financial Services shares by 19.9% ​​during the first quarter. The Canada Pension Plan Investment Board now owns 2,932 shares of the real estate investment trust valued at $156,000 after buying 486 more shares last quarter. 61.61% of the shares are currently held by hedge funds and other institutional investors.

Changes to analyst ratings

A number of analysts have weighed in on PFSI shares recently. 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 report. Piper Sandler cut her price target on PennyMac Financial Services shares from $82.00 to $79.00 and set an “overweight” rating on the stock in a Tuesday, June 28 research report. Finally, Barclays cut its price target on PennyMac Financial Services from $90.00 to $73.00 and set an “overweight” rating for the company in a research report on Monday July 11. Two equity research analysts gave the stock a hold rating and four gave the stock a buy rating. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.60.

PennyMac Financial Services is trading down 4.3%

Shares of NYSE:PFSI traded down $2.33 during Tuesday’s trading, hitting $51.74. The stock had a trading volume of 11,355 shares, compared to an average trading volume of 292,304. The stock has a market capitalization of $2.87 billion, a price-earnings ratio of 4.58 and a beta of 1.29. The company’s fifty-day moving average is $53.88 and its 200-day moving average is $50.62. The company has a debt ratio of 1.36, a quick ratio of 0.63 and a current ratio of 0.63. PennyMac Financial Services has a 52-week low of $38.53 and a 52-week high of $71.52.

PennyMac Financial Services (NYSE:PFSI – Get Rating) last released quarterly earnings data on Tuesday, August 2. The real estate investment trust reported earnings per share (EPS) of $2.28 for the quarter, beating analyst consensus estimates of $1.22 by $1.06. PennyMac Financial Services posted a net margin of 27.37% and a return on equity of 23.04%. The company posted revenue of $511.52 million in the quarter, compared to a consensus estimate of $475.70 million. As a group, equity analysts expect PennyMac Financial Services to post EPS of 7.62 for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 26. Shareholders of record on Tuesday August 16 received a dividend of $0.20 per share. The ex-dividend date was Monday, August 15. This represents an annualized dividend of $0.80 and a yield of 1.55%. PennyMac Financial Services’ payout ratio is currently 6.77%.

About PennyMac Financial Services

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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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