PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells $6,217,126.40 in Stock

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

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 stock was sold at an average price of $104.95, for a total value 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 Trading Up 1.2 %

Shares of NYSE:PFSI opened at $102.18 on Wednesday. The stock’s 50-day simple moving average is $104.02 and its two-hundred day simple moving average is $102.32. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 32.44 and a beta of 1.78. PennyMac Financial Services, Inc. has a 52-week low of $81.93 and a 52-week high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings results 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 business had revenue of $411.83 million for the quarter, compared to analysts’ expectations of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.77 EPS. Analysts expect that PennyMac Financial Services, Inc. will post 11.88 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Monday, November 18th. PennyMac Financial Services’s payout ratio is 38.10%.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

PFSI has been the topic of several analyst reports. Barclays upped their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods dropped 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. Wedbush reissued an “outperform” rating and issued a $130.00 target price on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Wells Fargo & Company raised their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Finally, Piper Sandler boosted their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One equities 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.