Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells 5,000 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 5,000 shares of the business’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $103.44, for a total value of $517,200.00. Following the completion of the sale, the chief executive officer now owns 150,604 shares in the company, valued at $15,578,477.76. This represents a 3.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

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

• On Thursday, March 6th, David Spector sold 5,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $101.28, for a total transaction of $506,400.00.
• On Thursday, February 27th, David Spector sold 6,839 shares of PennyMac Financial Services stock. The shares were sold at an average price of $102.12, for a total transaction of $698,398.68.
• On Wednesday, January 8th, David Spector sold 5,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $99.38, for a total transaction of $496,900.00.

PennyMac Financial Services Stock Up 0.6 %

Shares of NYSE PFSI opened at $103.52 on Friday. The business has a 50-day moving average of $102.33 and a two-hundred day moving average of $104.18. The company has a market capitalization of $5.32 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. PennyMac Financial Services, Inc. has a 1 year low of $83.03 and a 1 year high of $119.13. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. On average, analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Thursday, February 13th. PennyMac Financial Services’s dividend payout ratio (DPR) is 20.55%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods cut their price objective on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 10th. Piper Sandler reduced their price target on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, PennyMac Financial Services presently has an average rating of “Moderate Buy” and an average target price of $122.17.

Institutional Investors Weigh In On PennyMac Financial Services

A number of institutional investors and hedge funds have recently bought and sold shares of PFSI. State Street Corp increased its position in shares of PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after purchasing an additional 51,777 shares in the last quarter. JPMorgan Chase & Co. increased its position in PennyMac Financial Services by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock worth $108,809,000 after buying an additional 21,751 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in PennyMac Financial Services by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 453,810 shares of the real estate investment trust’s stock valued at $46,352,000 after buying an additional 6,459 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of PennyMac Financial Services during the third quarter worth approximately $614,000. Finally, HighTower Advisors LLC acquired a new position in shares of PennyMac Financial Services in the 3rd quarter valued at $702,000. 57.87% of the stock is owned by hedge funds and other 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.