PennyMac Financial Services (NYSE:PFSI) Stock Price Passes Below 200 Day Moving Average Following Insider Selling

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Friday following insider selling activity. 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.

Specifically, CEO David Spector sold 5,000 shares of PennyMac Financial Services stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $98.29, for a total value of $491,450.00. Following the completion of the transaction, the chief executive officer now directly owns 140,604 shares of the company's stock, valued at approximately $13,819,967.16. The trade was 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

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

PennyMac Financial Services Trading Down 2.7%

The business's 50 day moving average is $96.38 and its two-hundred day moving average is $100.54. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22. The firm has a market capitalization of $4.95 billion, a P/E ratio of 16.41, a PEG ratio of 0.19 and a beta of 1.55.

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

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Wednesday, May 14th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date was Wednesday, May 14th. PennyMac Financial Services's dividend payout ratio is currently 18.40%.

Institutional Investors Weigh In On PennyMac Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of PFSI. T. Rowe Price Investment Management Inc. raised its position in PennyMac Financial Services by 0.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,289,819 shares of the real estate investment trust's stock worth $429,454,000 after acquiring an additional 24,055 shares in the last quarter. Vanguard Group Inc. raised its position in PennyMac Financial Services by 7.4% in the fourth quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust's stock worth $294,835,000 after acquiring an additional 199,667 shares in the last quarter. FMR LLC raised its position in PennyMac Financial Services by 11.9% in the fourth quarter. FMR LLC now owns 1,305,851 shares of the real estate investment trust's stock worth $133,380,000 after acquiring an additional 138,853 shares in the last quarter. Invesco Ltd. raised its position in PennyMac Financial Services by 4.5% in the first quarter. Invesco Ltd. now owns 1,237,118 shares of the real estate investment trust's stock worth $123,848,000 after acquiring an additional 53,660 shares in the last quarter. Finally, Orbis Allan Gray Ltd raised its position in PennyMac Financial Services by 447.5% in the first quarter. Orbis Allan Gray Ltd now owns 926,775 shares of the real estate investment trust's stock worth $92,779,000 after acquiring an additional 757,489 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors.

PennyMac Financial Services Company Profile

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.