Insider Selling: PennyMac Financial Services Inc (PFSI) Insider Sells $698,252.28 in Stock

PennyMac Financial Services Inc (NYSE:PFSI) insider Doug Jones sold 30,372 shares of the company’s stock in a transaction on Wednesday, April 4th. The shares were sold at an average price of $22.99, for a total transaction of $698,252.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of PFSI opened at $23.15 on Friday. PennyMac Financial Services Inc has a fifty-two week low of $15.65 and a fifty-two week high of $25.20. The stock has a market cap of $541.17, a PE ratio of 10.52, a price-to-earnings-growth ratio of 1.47 and a beta of 0.57. The company has a debt-to-equity ratio of 1.70, a current ratio of 0.17 and a quick ratio of 0.17.

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PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Thursday, February 8th. The real estate investment trust reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.02). PennyMac Financial Services had a return on equity of 3.50% and a net margin of 10.55%. The business had revenue of $298.63 million for the quarter, compared to analyst estimates of $238.86 million. During the same quarter last year, the company posted $1.00 EPS. PennyMac Financial Services’s quarterly revenue was up 3.2% on a year-over-year basis. sell-side analysts anticipate that PennyMac Financial Services Inc will post 3.13 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in PFSI. State Street Corp boosted its stake in shares of PennyMac Financial Services by 4.7% during the second quarter. State Street Corp now owns 232,505 shares of the real estate investment trust’s stock worth $3,881,000 after buying an additional 10,361 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of PennyMac Financial Services by 11.5% during the second quarter. The Manufacturers Life Insurance Company now owns 12,732 shares of the real estate investment trust’s stock worth $213,000 after buying an additional 1,312 shares during the period. California State Teachers Retirement System boosted its stake in shares of PennyMac Financial Services by 2.9% during the second quarter. California State Teachers Retirement System now owns 28,126 shares of the real estate investment trust’s stock worth $470,000 after buying an additional 800 shares during the period. First Trust Advisors LP acquired a new stake in shares of PennyMac Financial Services during the third quarter worth about $294,000. Finally, SG Americas Securities LLC acquired a new stake in shares of PennyMac Financial Services during the third quarter worth about $264,000. Institutional investors and hedge funds own 93.29% of the company’s stock.

PFSI has been the subject of several research analyst reports. Barclays set a $25.00 price objective on shares of PennyMac Financial Services and gave the company a “buy” rating in a research note on Tuesday, December 12th. Zacks Investment Research upgraded shares of PennyMac Financial Services from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Tuesday, December 26th. Wells Fargo initiated coverage on shares of PennyMac Financial Services in a research note on Wednesday. They issued an “outperform” rating and a $28.00 price objective for the company. Wedbush initiated coverage on shares of PennyMac Financial Services in a research note on Friday, February 16th. They issued an “outperform” rating and a $30.00 price objective for the company. Finally, Keefe, Bruyette & Woods downgraded shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a research note on Monday, January 8th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $27.75.

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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. The Company operates through three segments: loan production, loan servicing and investment management.

Insider Buying and Selling by Quarter for PennyMac Financial Services (NYSE:PFSI)

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