Jeffrey Grogin Sells 9,000 Shares of PennyMac Financial Services, Inc. (PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) insider Jeffrey Grogin sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $16.72, for a total transaction of $150,480.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Jeffrey Grogin also recently made the following trade(s):

  • On Tuesday, September 5th, Jeffrey Grogin sold 18,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $17.04, for a total transaction of $306,720.00.
  • On Tuesday, August 29th, Jeffrey Grogin sold 6,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $16.86, for a total transaction of $101,160.00.
  • On Wednesday, August 30th, Jeffrey Grogin sold 12,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $17.01, for a total transaction of $204,120.00.

PennyMac Financial Services, Inc. (NYSE:PFSI) opened at 16.85 on Friday. The firm has a market cap of $396.14 million, a price-to-earnings ratio of 5.70 and a beta of 0.61. The stock’s 50 day moving average is $17.17 and its 200 day moving average is $16.94. PennyMac Financial Services, Inc. has a 52 week low of $15.65 and a 52 week high of $19.35.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Thursday, August 3rd. The real estate investment trust reported $0.44 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.66 by $0.22. The firm had revenue of $201.72 million for the quarter, compared to analyst estimates of $181.89 million. PennyMac Financial Services had a return on equity of 4.79% and a net margin of 6.87%. Equities research analysts expect that PennyMac Financial Services, Inc. will post $2.64 EPS for the current year.

PennyMac Financial Services declared that its Board of Directors has authorized a share buyback program on Wednesday, June 21st that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the real estate investment trust to repurchase up to 137% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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PFSI has been the topic of several analyst reports. ValuEngine lowered shares of PennyMac Financial Services from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 6th. TheStreet lowered shares of PennyMac Financial Services from a “b-” rating to a “c+” rating in a research note on Friday, June 2nd. Finally, Zacks Investment Research lowered shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $19.80.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Alps Advisors Inc. increased its holdings in PennyMac Financial Services by 0.3% during the second quarter. Alps Advisors Inc. now owns 27,680 shares of the real estate investment trust’s stock worth $462,000 after buying an additional 72 shares during the last quarter. American International Group Inc. increased its holdings in PennyMac Financial Services by 7.2% during the first quarter. American International Group Inc. now owns 8,384 shares of the real estate investment trust’s stock worth $143,000 after buying an additional 562 shares during the last quarter. California State Teachers Retirement System increased its holdings in 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 last quarter. Strs Ohio increased its holdings in PennyMac Financial Services by 2.7% during the second quarter. Strs Ohio now owns 38,700 shares of the real estate investment trust’s stock worth $646,000 after buying an additional 1,000 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in PennyMac Financial Services by 17.6% during the second quarter. Victory Capital Management Inc. now owns 6,964 shares of the real estate investment trust’s stock worth $116,000 after buying an additional 1,042 shares during the last quarter. Institutional investors and hedge funds own 86.57% of the company’s stock.

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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