David Spector Sells 61,120 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 61,120 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $101.72, for a total value of $6,217,126.40. Following the completion of the transaction, the chief executive officer now owns 634,612 shares of the company’s stock, valued at approximately $64,552,732.64. The trade was a 8.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

David Spector also recently made the following trade(s):

• On Wednesday, December 4th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $104.95, for a total transaction of $1,049,500.00.
• On Tuesday, November 12th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $105.04, for a total transaction of $1,050,400.00.
• On Monday, October 14th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $107.57, for a total transaction of $1,075,700.00.

PennyMac Financial Services Stock Performance

PFSI stock traded down $0.65 during trading on Monday, reaching $101.01. 339,502 shares of the company’s stock were exchanged, compared to its average volume of 258,461. PennyMac Financial Services, Inc. has a 1-year low of $81.93 and a 1-year high of $119.13. The firm has a market cap of $5.18 billion, a PE ratio of 32.07 and a beta of 1.78. The company’s fifty day moving average price is $104.30 and its 200-day moving average price is $102.16. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.92 by ($1.62). The company had revenue of $411.83 million during the quarter, compared to analyst estimates of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.77 EPS. On average, research analysts expect that PennyMac Financial Services, Inc. will post 11.88 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.19%. The ex-dividend date of this dividend was Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 38.10%.

Institutional Investors Weigh In On PennyMac Financial Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PFSI. Harbor Capital Advisors Inc. bought a new position in shares of PennyMac Financial Services during the 3rd quarter valued at about $37,000. Blue Trust Inc. lifted its stake in PennyMac Financial Services by 59.5% during the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 262 shares during the last quarter. KBC Group NV boosted its holdings in PennyMac Financial Services by 20.3% during the third quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after buying an additional 226 shares in the last quarter. Quantbot Technologies LP boosted its holdings in PennyMac Financial Services by 23.7% during the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock worth $173,000 after buying an additional 290 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of PennyMac Financial Services in the third quarter valued at $203,000. Institutional investors own 57.87% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PFSI shares. Barclays upped their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Wells Fargo & Company upped their price objective on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods cut their target price on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 10th. Wedbush restated an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Finally, Piper Sandler increased their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. One research 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $122.50.

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.