PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells $496,900.00 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 5,000 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $99.38, for a total transaction of $496,900.00. Following the sale, the chief executive officer now directly owns 165,604 shares of the company’s stock, valued at $16,457,725.52. The trade was a 2.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, December 20th, David Spector sold 61,120 shares of PennyMac Financial Services stock. The shares were sold at an average price of $101.72, for a total transaction of $6,217,126.40.
• 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 shares were sold at an average price of $107.57, for a total transaction of $1,075,700.00.

PennyMac Financial Services Stock Down 3.1 %

NYSE:PFSI opened at $96.39 on Friday. The firm has a market capitalization of $4.94 billion, a P/E ratio of 30.60 and a beta of 1.78. PennyMac Financial Services, Inc. has a 1-year low of $81.93 and a 1-year high of $119.13. The company’s fifty day moving average price is $103.28 and its 200-day moving average price is $103.05. The company has a debt-to-equity ratio of 2.75, a current ratio of 0.38 and a quick ratio of 0.38.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.92 by ($1.62). The business 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 firm’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.77 EPS. As a group, equities research analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were given a dividend of $0.30 per share. The ex-dividend date was Monday, November 18th. This represents a $1.20 annualized dividend and a yield of 1.24%. PennyMac Financial Services’s dividend payout ratio is presently 38.10%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PFSI. Wells Fargo & Company upped their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Barclays upped their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Piper Sandler upped their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods cut their price target on shares of 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. Finally, Wedbush restated an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. One 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’s stock. According to data from MarketBeat.com, PennyMac Financial Services presently has a consensus rating of “Moderate Buy” and an average price target of $122.50.

Institutional Trading of PennyMac Financial Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. KBC Group NV grew its position 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 valued at $153,000 after buying an additional 226 shares during the period. Blue Trust Inc. grew its position 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 buying an additional 262 shares during the period. Quantbot Technologies LP grew its position 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 valued at $173,000 after buying an additional 290 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in PennyMac Financial Services during the third quarter valued at $37,000. Finally, Arizona State Retirement System grew its position in PennyMac Financial Services by 2.9% during the second quarter. Arizona State Retirement System now owns 11,999 shares of the real estate investment trust’s stock valued at $1,135,000 after buying an additional 336 shares during the period. Institutional investors and hedge funds own 57.87% of the company’s stock.

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.