David Spector Sells 5,000 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 5,000 shares of PennyMac Financial Services stock in a transaction dated 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 transaction, the chief executive officer now owns 150,604 shares of the company’s stock, valued at $15,578,477.76. The trade was a 3.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $101.28, for a total value 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 value of $698,398.68.
• On Wednesday, January 8th, David Spector sold 5,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $99.38, for a total value of $496,900.00.

PennyMac Financial Services Price Performance

Shares of PennyMac Financial Services stock opened at $103.52 on Friday. The stock 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. The company has a fifty day moving average of $102.33 and a 200-day moving average of $104.26. PennyMac Financial Services, Inc. has a 52-week low of $83.03 and a 52-week high of $119.13. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results 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 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 year.

PennyMac Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were paid a dividend of $0.30 per share. 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 payout ratio is 20.55%.

Analyst Upgrades and Downgrades

PFSI has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods lowered their price target on shares of PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a report on Tuesday, December 10th. Piper Sandler decreased their price objective on shares of 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $122.17.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp raised its holdings in PennyMac Financial Services by 6.0% in 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 stake in shares of PennyMac Financial Services by 2.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock worth $108,809,000 after acquiring an additional 21,751 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in PennyMac Financial Services by 1.4% during the 4th 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 acquiring an additional 6,459 shares during the period. XTX Topco Ltd bought a new stake in PennyMac Financial Services during the third quarter worth about $614,000. Finally, HighTower Advisors LLC purchased a new stake in PennyMac Financial Services in the third quarter worth about $702,000. Hedge funds and other institutional investors own 57.87% of the company’s stock.

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.