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 company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 150,604 shares in the company, valued at approximately $15,578,477.76. This trade represents a 3.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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 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 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 Stock Down 0.8 %

Shares of PFSI traded down $0.80 during mid-day trading on Thursday, reaching $102.82. The company had a trading volume of 676,266 shares, compared to its average volume of 283,185. The firm has a 50-day moving average price of $102.58 and a 200 day moving average price of $104.36. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90. 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 quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share 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%. On average, sell-side analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, February 23rd. Shareholders of record on Thursday, February 13th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. PennyMac Financial Services’s dividend payout ratio is currently 20.55%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PFSI. Keefe, Bruyette & Woods reduced their target price 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 PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating on the stock in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $122.17.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors 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 3rd quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after acquiring an additional 51,777 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of PennyMac Financial Services by 2.3% in the third 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 period. Charles Schwab Investment Management Inc. increased its position in PennyMac Financial Services by 1.4% during the fourth 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 last quarter. XTX Topco Ltd purchased a new stake in PennyMac Financial Services during the third quarter valued at $614,000. Finally, HighTower Advisors LLC bought a new position in PennyMac Financial Services in the third quarter valued at about $702,000. 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.