Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells $1,050,400.00 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 10,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $105.04, for a total transaction of $1,050,400.00. Following the completion of the transaction, the chief executive officer now owns 180,604 shares in the company, valued at $18,970,644.16. This trade represents a 5.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• 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.
• On Tuesday, September 17th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $116.79, for a total transaction of $1,167,900.00.
• On Wednesday, August 21st, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $99.31, for a total value of $993,100.00.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI opened at $102.52 on Friday. The company has a market cap of $5.26 billion, a P/E ratio of 32.55 and a beta of 1.79. PennyMac Financial Services, Inc. has a 52-week low of $74.69 and a 52-week high of $119.13. 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 firm’s fifty day moving average is $107.35 and its two-hundred day moving average is $99.65.

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

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 18th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Monday, November 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 38.10%.

Institutional Investors Weigh In On PennyMac Financial Services

A number of hedge funds have recently bought and sold shares of the business. Barclays PLC boosted its stake in shares of PennyMac Financial Services by 505.4% during the 3rd quarter. Barclays PLC now owns 60,179 shares of the real estate investment trust’s stock worth $6,859,000 after purchasing an additional 50,238 shares during the period. XTX Topco Ltd bought a new stake in shares of PennyMac Financial Services during the third quarter worth $614,000. State Street Corp boosted its stake 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 valued at $103,911,000 after purchasing an additional 51,777 shares during the period. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of PennyMac Financial Services in the third quarter worth about $21,890,000. Finally, HighTower Advisors LLC purchased a new position in PennyMac Financial Services in the 3rd quarter worth about $702,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Analyst Ratings Changes

PFSI has been the subject of a number of analyst reports. Wells Fargo & Company upped their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Piper Sandler raised their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods downgraded shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price target on the stock. in a report on Monday, July 22nd. Wedbush reissued an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Finally, Barclays lifted their target price 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $115.86.

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.