PennyMac Financial Services (NYSE:PFSI) Shares Cross Below 200-Day Moving Average on Insider Selling

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) passed below its two hundred day moving average during trading on Friday after an insider sold shares in the company. The stock has a two hundred day moving average of $100.58 and traded as low as $95.60. PennyMac Financial Services shares last traded at $95.82, with a volume of 218,946 shares traded.

Specifically, CEO David Spector sold 5,000 shares of the stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $98.29, for a total transaction of $491,450.00. Following the sale, the chief executive officer now owns 140,604 shares in the company, valued at approximately $13,819,967.16. This represents a 3.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Keefe, Bruyette & Woods raised shares of PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price objective for the company in a research note on Tuesday, April 8th. Piper Sandler dropped their target price on PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Finally, Wells Fargo & Company reduced their price target on PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $121.17.

PennyMac Financial Services Stock Performance

The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The company has a market capitalization of $4.92 billion, a PE ratio of 16.31, a PEG ratio of 0.19 and a beta of 1.55. The firm's 50-day simple moving average is $96.38 and its 200-day simple moving average is $100.50.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.99 by ($1.57). The firm had revenue of $430.90 million during the quarter, compared to analysts' expectations of $520.42 million. PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. During the same quarter in the previous year, the firm posted $0.74 EPS. On average, research analysts predict that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Wednesday, May 14th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.26%. PennyMac Financial Services's dividend payout ratio is currently 18.40%.

Institutional Trading of PennyMac Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in PFSI. AlphaQuest LLC boosted its stake in PennyMac Financial Services by 4.4% in the first quarter. AlphaQuest LLC now owns 2,587 shares of the real estate investment trust's stock valued at $259,000 after acquiring an additional 110 shares in the last quarter. CWM LLC lifted its holdings in shares of PennyMac Financial Services by 71.5% during the 1st quarter. CWM LLC now owns 271 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 113 shares during the last quarter. Hohimer Wealth Management LLC boosted its position in shares of PennyMac Financial Services by 5.4% in the 1st quarter. Hohimer Wealth Management LLC now owns 2,351 shares of the real estate investment trust's stock worth $235,000 after purchasing an additional 121 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in PennyMac Financial Services by 5.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,797 shares of the real estate investment trust's stock worth $286,000 after buying an additional 154 shares during the last quarter. Finally, Strs Ohio acquired a new position in PennyMac Financial Services during the 1st quarter valued at about $30,000. 57.87% of the stock is currently owned by institutional investors.

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.