PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells $506,400.00 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 5,000 shares of PennyMac Financial Services stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $101.28, for a total value of $506,400.00. Following the completion of the sale, the chief executive officer now directly owns 155,604 shares in the company, valued at $15,759,573.12. This represents a 3.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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.
• On Friday, December 20th, David Spector sold 61,120 shares of PennyMac Financial Services stock. The shares were sold at an average price of $101.72, for a total value of $6,217,126.40.

PennyMac Financial Services Trading Up 0.8 %

Shares of NYSE:PFSI opened at $101.82 on Monday. PennyMac Financial Services, Inc. has a 12-month low of $83.03 and a 12-month high of $119.13. The stock has a market cap of $5.24 billion, a PE ratio of 17.43, a P/E/G ratio of 0.19 and a beta of 1.90. The business has a 50 day moving average of $103.61 and a 200-day moving average of $105.21. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing analysts’ consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. As a group, equities research analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.18%. PennyMac Financial Services’s payout ratio is 20.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Piper Sandler reduced their price target on PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a report on Friday, January 31st. Keefe, Bruyette & Woods reduced their price target 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 assigned a buy rating to the stock. According to MarketBeat.com, PennyMac Financial Services has a consensus rating of “Moderate Buy” and a consensus target price of $122.17.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PFSI. FMR LLC raised its position in PennyMac Financial Services by 231.9% during the third quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock valued at $133,003,000 after purchasing an additional 815,389 shares in the last quarter. Norges Bank acquired a new position in shares of PennyMac Financial Services during the fourth quarter worth $38,004,000. Millennium Management LLC increased its holdings in shares of PennyMac Financial Services by 104.5% during the fourth quarter. Millennium Management LLC now owns 518,574 shares of the real estate investment trust’s stock worth $52,967,000 after buying an additional 264,956 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of PennyMac Financial Services during the third quarter worth $24,644,000. Finally, Vanguard Group Inc. increased its holdings in shares of PennyMac Financial Services by 7.4% during the fourth quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust’s stock worth $294,835,000 after buying an additional 199,667 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

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.