PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector Sells 6,839 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 6,839 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $102.12, for a total transaction of $698,398.68. Following the sale, the chief executive officer now directly owns 635,554 shares of the company’s stock, valued at $64,902,774.48. This represents a 1.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

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 shares were sold at an average price of $99.38, for a total transaction 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 transaction of $6,217,126.40.
• On Wednesday, December 4th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $104.95, for a total transaction of $1,049,500.00.

PennyMac Financial Services Price Performance

PFSI stock opened at $103.62 on Tuesday. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. The company’s 50-day moving average is $103.65 and its 200-day moving average is $105.12. The stock has a market capitalization of $5.33 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 0.19 and a beta of 1.78. PennyMac Financial Services, Inc. has a 1 year low of $83.03 and a 1 year high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (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 fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were issued a $0.30 dividend. 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 dividend payout ratio is currently 20.55%.

Wall Street Analyst Weigh In

PFSI has been the topic of a number of recent analyst reports. Piper Sandler dropped their price objective on 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. Keefe, Bruyette & Woods lowered their target price 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 investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $122.17.

Institutional Trading of PennyMac Financial Services

A number of hedge funds and other institutional investors have recently bought and sold shares of PFSI. State Street Corp lifted its stake in shares of 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 valued at $103,911,000 after buying an additional 51,777 shares in the last quarter. JPMorgan Chase & Co. raised its holdings 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 during the last quarter. XTX Topco Ltd bought a new position in PennyMac Financial Services in the 3rd quarter valued at about $614,000. HighTower Advisors LLC acquired a new position in PennyMac Financial Services during the 3rd quarter valued at about $702,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in PennyMac Financial Services during the 3rd quarter valued at about $24,644,000. 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.