PennyMac Financial Services (NYSE:PFSI) CEO David Spector Sells 5,000 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 5,000 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $129.81, for a total transaction of $649,050.00. Following the transaction, the chief executive officer directly owned 110,604 shares of the company’s stock, valued at $14,357,505.24. This represents a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, November 12th, David Spector sold 5,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $129.26, for a total transaction of $646,300.00.
• On Thursday, October 23rd, David Spector sold 71,161 shares of PennyMac Financial Services stock. The shares were sold at an average price of $128.07, for a total transaction of $9,113,589.27.
• On Monday, October 6th, David Spector sold 5,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $118.42, for a total transaction of $592,100.00.
• On Tuesday, September 23rd, David Spector sold 5,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $122.97, for a total value of $614,850.00.

PennyMac Financial Services Trading Up 1.7%

Shares of PFSI stock traded up $2.17 on Thursday, reaching $132.36. 406,119 shares of the stock were exchanged, compared to its average volume of 376,628. The firm has a 50 day moving average of $127.29 and a two-hundred day moving average of $113.65. The stock has a market cap of $6.88 billion, a P/E ratio of 14.26 and a beta of 1.58. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.01. PennyMac Financial Services, Inc. has a 1-year low of $85.74 and a 1-year high of $136.62.

PennyMac Financial Services (NYSE:PFSI) last posted its earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.98 by $0.39. The business had revenue of $632.90 million during the quarter, compared to analyst estimates of $573.46 million. PennyMac Financial Services had a return on equity of 11.69% and a net margin of 25.21%.The company’s revenue for the quarter was up 53.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.30 earnings per share. On average, research analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th were given a dividend of $0.30 per share. The ex-dividend date was Monday, November 17th. This represents a $1.20 annualized dividend and a dividend yield of 0.9%. PennyMac Financial Services’s dividend payout ratio is currently 12.93%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PFSI. Hudson Bay Capital Management LP acquired a new stake in shares of PennyMac Financial Services in the 3rd quarter valued at $5,593,000. Goldentree Asset Management LP raised its holdings in PennyMac Financial Services by 0.8% during the third quarter. Goldentree Asset Management LP now owns 296,441 shares of the real estate investment trust’s stock valued at $36,649,000 after buying an additional 2,242 shares in the last quarter. CIBC Private Wealth Group LLC bought a new position in PennyMac Financial Services during the third quarter valued at about $78,000. CIBC Bancorp USA Inc. acquired a new stake in shares of PennyMac Financial Services in the third quarter worth about $386,000. Finally, CANADA LIFE ASSURANCE Co boosted its stake in shares of PennyMac Financial Services by 1.0% during the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 16,236 shares of the real estate investment trust’s stock worth $2,026,000 after acquiring an additional 163 shares in the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of PennyMac Financial Services from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. UBS Group boosted their price target on shares of PennyMac Financial Services from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Barclays raised their price objective on shares of PennyMac Financial Services from $136.00 to $139.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Piper Sandler boosted their target price on shares of PennyMac Financial Services from $136.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PennyMac Financial Services in a research report on Friday, October 31st. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $139.50.

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.