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 stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $98.29, for a total transaction of $491,450.00. Following the transaction, the chief executive officer now directly owns 140,604 shares in the company, valued at approximately $13,819,967.16. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 stock was 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 shares were sold at an average price of $103.44, for a total transaction of $517,200.00.

PennyMac Financial Services Price Performance

Shares of NYSE:PFSI traded down $2.70 on Friday, reaching $95.82. 218,946 shares of the company were exchanged, compared to its average volume of 316,962. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. PennyMac Financial Services, Inc. has a 1-year low of $85.74 and a 1-year high of $119.13. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 0.19 and a beta of 1.55. The company has a 50-day moving average of $96.38 and a 200-day moving average of $100.50.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (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 analysts' expectations of $520.42 million. PennyMac Financial Services had a net margin of 19.54% and a return on equity of 16.61%. During the same quarter last year, the company posted $0.74 earnings per share. Equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

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

Wall Street Analyst Weigh In

PFSI has been the subject of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 price objective for the company in a research report on Tuesday, April 8th. UBS Group reduced their price objective 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. Finally, Piper Sandler reduced their price objective on shares of 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, PennyMac Financial Services has a consensus rating of "Moderate Buy" and an average target price of $121.17.

Institutional Trading of PennyMac Financial Services

A number of institutional investors and hedge funds have recently bought and sold shares of PFSI. Rhumbline Advisers grew its position in shares of PennyMac Financial Services by 1.0% during the fourth quarter. Rhumbline Advisers now owns 41,529 shares of the real estate investment trust's stock worth $4,242,000 after buying an additional 414 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in PennyMac Financial Services by 4.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 20,017 shares of the real estate investment trust's stock valued at $2,045,000 after buying an additional 766 shares during the last quarter. New York State Common Retirement Fund lifted its stake in PennyMac Financial Services by 6.1% in the fourth quarter. New York State Common Retirement Fund now owns 71,065 shares of the real estate investment trust's stock valued at $7,259,000 after buying an additional 4,077 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in PennyMac Financial Services by 22.7% in the fourth quarter. Bank of New York Mellon Corp now owns 198,897 shares of the real estate investment trust's stock valued at $20,315,000 after buying an additional 36,800 shares during the last quarter. Finally, MorganRosel Wealth Management LLC lifted its stake in PennyMac Financial Services by 60.4% in the fourth quarter. MorganRosel Wealth Management LLC now owns 11,728 shares of the real estate investment trust's stock valued at $1,198,000 after buying an additional 4,416 shares during the last quarter. Institutional investors and hedge funds 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.