Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells $517,200.00 in 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 stock was sold at an average price of $103.44, for a total transaction of $517,200.00. Following the completion of the sale, the chief executive officer now directly owns 150,604 shares of the company’s stock, valued at approximately $15,578,477.76. The trade was a 3.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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 shares were 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 stock was 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 value of $496,900.00.

PennyMac Financial Services Price Performance

NYSE:PFSI opened at $103.52 on Friday. PennyMac Financial Services, Inc. has a one year low of $83.03 and a one year high of $119.13. The stock has a market cap of $5.32 billion, a PE ratio of 17.73, a P/E/G ratio of 0.19 and a beta of 1.90. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. The stock has a 50 day moving average price of $102.33 and a 200 day moving average price of $104.18.

PennyMac Financial Services (NYSE:PFSI) last issued its 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 return on equity of 16.61% and a net margin of 19.54%. Equities research analysts expect that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.16%. PennyMac Financial Services’s payout ratio is 20.55%.

Institutional Trading of PennyMac Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC grew its position in PennyMac Financial Services by 231.9% in the third quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock worth $133,003,000 after acquiring an additional 815,389 shares during the period. Quantbot Technologies LP increased its position in shares of PennyMac Financial Services by 23.7% during 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 last quarter. BNP Paribas Financial Markets raised its holdings in PennyMac Financial Services by 88.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 18,508 shares of the real estate investment trust’s stock valued at $2,109,000 after buying an additional 8,702 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in PennyMac Financial Services by 0.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 96,324 shares of the real estate investment trust’s stock valued at $10,978,000 after buying an additional 669 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in PennyMac Financial Services during the third quarter worth about $203,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

Wall Street Analysts Forecast Growth

PFSI has been the topic of several research reports. Keefe, Bruyette & Woods decreased their target price 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 lowered their target price on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $122.17.

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.