PennyMac Financial Services, Inc. (NYSE:PFSI) Shares Sold by Citigroup Inc.

Citigroup Inc. cut its stake in PennyMac Financial Services, Inc. (NYSE:PFSI - Free Report) by 81.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,074 shares of the real estate investment trust's stock after selling 17,579 shares during the quarter. Citigroup Inc.'s holdings in PennyMac Financial Services were worth $271,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Qube Research & Technologies Ltd bought a new position in PennyMac Financial Services during the third quarter valued at approximately $3,370,000. Graham Capital Management L.P. purchased a new stake in shares of PennyMac Financial Services in the third quarter worth approximately $1,237,000. Adage Capital Partners GP L.L.C. purchased a new stake in shares of PennyMac Financial Services in the third quarter worth approximately $3,657,000. Invesco Ltd. increased its holdings in PennyMac Financial Services by 47.6% during the 3rd quarter. Invesco Ltd. now owns 490,297 shares of the real estate investment trust's stock worth $32,654,000 after purchasing an additional 158,181 shares during the period. Finally, Deutsche Bank AG increased its holdings in PennyMac Financial Services by 13.4% during the 3rd quarter. Deutsche Bank AG now owns 13,409 shares of the real estate investment trust's stock worth $893,000 after purchasing an additional 1,587 shares during the period. Institutional investors own 57.87% of the company's stock.

Insider Buying and Selling at PennyMac Financial Services

In other PennyMac Financial Services news, CEO David Spector sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $84.43, for a total transaction of $1,266,450.00. Following the transaction, the chief executive officer now owns 285,604 shares in the company, valued at $24,113,545.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider James Follette sold 2,617 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $86.24, for a total value of $225,690.08. Following the sale, the insider now directly owns 7,257 shares of the company's stock, valued at $625,843.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David Spector sold 15,000 shares of the firm's stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $84.43, for a total value of $1,266,450.00. Following the completion of the sale, the chief executive officer now directly owns 285,604 shares of the company's stock, valued at approximately $24,113,545.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,802 shares of company stock valued at $8,025,358. 17.40% of the stock is currently owned by corporate insiders.

PennyMac Financial Services Stock Down 0.7 %

NYSE PFSI traded down $0.62 during trading hours on Thursday, reaching $91.09. 397,973 shares of the company's stock were exchanged, compared to its average volume of 237,801. The company has a debt-to-equity ratio of 1.90, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 33.61, a price-to-earnings-growth ratio of 0.60 and a beta of 1.66. The company's 50-day moving average is $87.85 and its two-hundred day moving average is $79.92. PennyMac Financial Services, Inc. has a one year low of $56.16 and a one year high of $94.78.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its earnings results on Thursday, February 1st. The real estate investment trust reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.75. The company had revenue of $361.94 million during the quarter, compared to analysts' expectations of $413.35 million. PennyMac Financial Services had a return on equity of 7.69% and a net margin of 10.32%. On average, analysts forecast that PennyMac Financial Services, Inc. will post 10.18 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Tuesday, February 13th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Monday, February 12th. PennyMac Financial Services's payout ratio is presently 29.52%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PFSI shares. UBS Group assumed coverage on PennyMac Financial Services in a research report on Wednesday, December 6th. They set a "neutral" rating and a $85.00 target price on the stock. Wedbush lifted their target price on shares of PennyMac Financial Services from $85.00 to $105.00 and gave the company an "outperform" rating in a report on Tuesday, January 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of PennyMac Financial Services in a research note on Wednesday, January 10th. They issued a "buy" rating and a $115.00 target price on the stock. StockNews.com raised shares of PennyMac Financial Services from a "sell" rating to a "hold" rating in a report on Wednesday, March 13th. Finally, Keefe, Bruyette & Woods lowered PennyMac Financial Services from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 10th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, PennyMac Financial Services has a consensus rating of "Moderate Buy" and an average target price of $92.25.

About PennyMac Financial Services

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.