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 PennyMac Financial Services stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $17.85, for a total value of $89,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
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 1-year low of $10.48 and a 1-year high of $18.13. The firm has a market cap of $389.27 million, a price-to-earnings ratio of 8.54 and a beta of 0.59. The company has a 50 day moving average price of $16.33 and a 200 day moving average price of $13.56.
PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.07. The company had revenue of $207.81 million for the quarter, compared to analysts’ expectations of $196.53 million. PennyMac Financial Services had a return on equity of 4.30% and a net margin of 6.20%. The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share. On average, equities research analysts expect that PennyMac Financial Services Inc. will post $2.39 EPS for the current year.
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Several hedge funds and other institutional investors have recently bought and sold shares of PFSI. Metropolitan Life Insurance Co. NY purchased a new position in PennyMac Financial Services during the second quarter valued at $139,000. Societe Generale purchased a new position in PennyMac Financial Services during the second quarter valued at $161,000. SG Americas Securities LLC purchased a new position in PennyMac Financial Services during the second quarter valued at $161,000. Teachers Advisors Inc. boosted its position 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 boosted its position 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 currently owned by institutional investors.
A number of brokerages have recently issued reports on PFSI. Citigroup Inc. lifted their price target on PennyMac Financial Services from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, September 9th. Zacks Investment Research upgraded PennyMac Financial Services from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Friday, July 15th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $20.00 price objective on shares of PennyMac Financial Services in a research report on Friday, September 9th. Keefe, Bruyette & Woods set a $18.00 price objective on PennyMac Financial Services and gave the stock a “buy” rating in a research report on Friday, August 5th. Finally, JPMorgan Chase & Co. lifted their price objective on PennyMac Financial Services from $14.00 to $16.50 and gave the stock a “neutral” rating in a research report on Friday, August 5th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $17.94.
PennyMac Financial Services Company Profile
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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