PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells $491,450.00 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CEO David Spector sold 5,000 shares of the firm's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $98.29, for a total value of $491,450.00. Following the transaction, the chief executive officer now owns 140,604 shares in the company, valued at approximately $13,819,967.16. This trade represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, May 14th, David Spector sold 5,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $99.15, for a total transaction of $495,750.00.
• On Wednesday, April 2nd, David Spector sold 5,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $103.44, for a total transaction of $517,200.00.

PennyMac Financial Services Stock Performance

PFSI stock traded down $2.70 during trading on Friday, reaching $95.82. 218,946 shares of the stock were exchanged, compared to its average volume of 316,962. PennyMac Financial Services, Inc. has a twelve month low of $85.74 and a twelve month high of $119.13. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The company has a market capitalization of $4.95 billion, a P/E ratio of 16.41, a price-to-earnings-growth ratio of 0.19 and a beta of 1.55. The stock has a 50 day simple moving average of $96.38 and a 200-day simple moving average of $100.54.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 EPS for the quarter, missing analysts' consensus estimates of $2.99 by ($1.57). The firm had revenue of $430.90 million during the quarter, compared to the consensus estimate of $520.42 million. PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. During the same quarter in the prior year, the business posted $0.74 EPS. As a group, sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Wednesday, May 14th were given a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.20 annualized dividend and a yield of 1.25%. PennyMac Financial Services's dividend payout ratio (DPR) is currently 18.40%.

Institutional Investors Weigh In On PennyMac Financial Services

Several institutional investors and hedge funds have recently bought and sold shares of the business. Rhumbline Advisers lifted its holdings in shares of PennyMac Financial Services by 1.6% during the 1st quarter. Rhumbline Advisers now owns 42,208 shares of the real estate investment trust's stock worth $4,225,000 after acquiring an additional 679 shares during the period. Strs Ohio acquired a new position in PennyMac Financial Services in the first quarter worth about $30,000. Intech Investment Management LLC lifted its stake in PennyMac Financial Services by 5.8% during the first quarter. Intech Investment Management LLC now owns 15,382 shares of the real estate investment trust's stock worth $1,540,000 after purchasing an additional 840 shares during the period. Philadelphia Financial Management of San Francisco LLC acquired a new stake in PennyMac Financial Services during the first quarter valued at approximately $18,701,000. Finally, Millennium Management LLC boosted its holdings in PennyMac Financial Services by 48.8% during the first quarter. Millennium Management LLC now owns 771,605 shares of the real estate investment trust's stock valued at $77,245,000 after purchasing an additional 253,031 shares in the last quarter. Institutional investors own 57.87% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on PFSI shares. UBS Group cut their target price on shares of PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Piper Sandler cut their price objective on PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods raised PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 target price on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company dropped their price target on PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $121.17.

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.