Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells 6,839 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 6,839 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $102.12, for a total value of $698,398.68. Following the completion of the transaction, the chief executive officer now owns 635,554 shares of the company’s stock, valued at approximately $64,902,774.48. This trade represents a 1.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• 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 value of $496,900.00.
• On Friday, December 20th, David Spector sold 61,120 shares of PennyMac Financial Services stock. The stock was sold at an average price of $101.72, for a total value of $6,217,126.40.
• 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.

PennyMac Financial Services Price Performance

Shares of NYSE:PFSI opened at $102.88 on Thursday. 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, Inc. has a 1-year low of $83.03 and a 1-year high of $119.13. The company has a market capitalization of $5.29 billion, a PE ratio of 17.62, a PEG ratio of 0.19 and a beta of 1.78. The business has a fifty day moving average price of $103.64 and a 200-day moving average price of $105.15.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 EPS for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. As a group, equities analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.17%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 20.55%.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On PennyMac Financial Services

Several institutional investors have recently modified their holdings of the business. Summit Investment Advisors Inc. boosted its position in shares of PennyMac Financial Services by 5.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,797 shares of the real estate investment trust’s stock valued at $286,000 after buying an additional 154 shares during the last quarter. KBC Group NV boosted its position in shares of PennyMac Financial Services by 15.6% during the fourth quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust’s stock valued at $158,000 after buying an additional 209 shares during the last quarter. Quantbot Technologies LP boosted its position in PennyMac Financial Services by 23.7% in the third 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 last quarter. Harbor Capital Advisors Inc. purchased a new position in PennyMac Financial Services in the third quarter worth about $37,000. Finally, Sterling Capital Management LLC boosted its position in PennyMac Financial Services by 601.8% in the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock worth $41,000 after purchasing an additional 343 shares during the last quarter. 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.