Insider Selling: PennyMac Financial Services Inc. (PFSI) Insider Sells 5,000 Shares of Stock
PennyMac Financial Services Inc. (NYSE:PFSI) insider David M. Walker sold 5,000 shares of the stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $17.69, for a total value of $88,450.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.
Shares of PennyMac Financial Services Inc. (NYSE:PFSI) traded down 1.96% during midday trading on Wednesday, reaching $17.54. The company’s stock had a trading volume of 148,979 shares. PennyMac Financial Services Inc. has a 12 month low of $10.48 and a 12 month high of $18.13. The stock’s 50 day moving average is $16.33 and its 200 day moving average is $13.56. The stock has a market capitalization of $389.27 million, a PE ratio of 8.54 and a beta of 0.59.
PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.07. PennyMac Financial Services had a net margin of 6.20% and a return on equity of 4.30%. The business earned $207.81 million during the quarter, compared to analyst estimates of $196.53 million. During the same quarter in the previous year, the business earned $0.59 EPS. PennyMac Financial Services’s quarterly revenue was up 5.8% compared to the same quarter last year. On average, analysts forecast that PennyMac Financial Services Inc. will post $2.39 EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the stock. Metropolitan Life Insurance Co. NY acquired a new stake in PennyMac Financial Services during the second quarter valued at about $139,000. Societe Generale acquired a new stake in PennyMac Financial Services during the second quarter valued at about $161,000. SG Americas Securities LLC acquired a new stake in PennyMac Financial Services during the second quarter valued at about $161,000. Teachers Advisors Inc. raised its stake in PennyMac Financial Services by 7.7% in the second quarter. Teachers Advisors Inc. now owns 20,232 shares of the real estate investment trust’s stock valued at $253,000 after buying an additional 1,447 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in PennyMac Financial Services by 17.4% in the second quarter. Parametric Portfolio Associates LLC now owns 20,649 shares of the real estate investment trust’s stock valued at $258,000 after buying an additional 3,053 shares during the last quarter. 92.45% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on the company. Piper Jaffray Cos. restated an “overweight” rating and issued a $20.00 price target on shares of PennyMac Financial Services in a report on Friday, September 9th. Zacks Investment Research cut PennyMac Financial Services from a “buy” rating to a “hold” rating in a report on Friday, September 16th. Citigroup Inc. upped their price target on PennyMac Financial Services from $16.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, September 9th. Keefe, Bruyette & Woods set a $18.00 price target on PennyMac Financial Services and gave the stock a “buy” rating in a report on Friday, August 5th. Finally, JPMorgan Chase & Co. upped their price target on PennyMac Financial Services from $14.00 to $16.50 and gave the stock a “neutral” rating in a report on Friday, August 5th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $17.94.
About PennyMac Financial Services
PennyMac Financial Services, Inc (PFSI) is a financial services company. The Company is focused on the production and servicing of the United States residential mortgage loans and the management of investments related to the United States mortgage market. It operates through three segments: loan production, loan servicing and investment management.
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