PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector Sells 10,000 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CEO David Spector sold 10,000 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $90.72, for a total transaction of $907,200.00. Following the transaction, the chief executive officer now owns 250,604 shares in the company, valued at approximately $22,734,794.88. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, March 11th, David Spector sold 26,451 shares of PennyMac Financial Services stock. The shares were sold at an average price of $86.05, for a total transaction of $2,276,108.55.
• On Tuesday, February 20th, David Spector sold 15,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $87.18, for a total transaction of $1,307,700.00.
• On Tuesday, January 16th, David Spector sold 15,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $84.43, for a total transaction of $1,266,450.00.

PennyMac Financial Services Stock Up 1.8 %

PFSI traded up $1.61 during trading on Thursday, reaching $89.21. The company had a trading volume of 211,864 shares, compared to its average volume of 235,941. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.37 and a quick ratio of 0.37. PennyMac Financial Services, Inc. has a 12 month low of $56.16 and a 12 month high of $94.78. The business's fifty day moving average price is $88.19 and its 200 day moving average price is $81.35. The company has a market cap of $4.50 billion, a P/E ratio of 32.92, a PEG ratio of 0.60 and a beta of 1.67.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings data on Thursday, February 1st. The real estate investment trust reported $1.76 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.75. The business had revenue of $361.94 million for the quarter, compared to analyst estimates of $413.35 million. PennyMac Financial Services had a net margin of 10.32% and a return on equity of 7.69%. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 10.19 EPS for the current year.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were issued a dividend of $0.20 per share. The ex-dividend date was Monday, February 12th. This represents a $0.80 dividend on an annualized basis and a yield of 0.90%. PennyMac Financial Services's payout ratio is 29.52%.

Hedge Funds Weigh In On PennyMac Financial Services

Several institutional investors and hedge funds have recently modified their holdings of PFSI. Citigroup Inc. increased its holdings in shares of PennyMac Financial Services by 100.7% in the first quarter. Citigroup Inc. now owns 5,768 shares of the real estate investment trust's stock valued at $344,000 after purchasing an additional 850,545 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of PennyMac Financial Services by 7,011.7% in the first quarter. Envestnet Asset Management Inc. now owns 801,420 shares of the real estate investment trust's stock valued at $5,283,000 after acquiring an additional 790,151 shares in the last quarter. MFN Partners Management LP grew its stake in shares of PennyMac Financial Services by 14.0% in the first quarter. MFN Partners Management LP now owns 4,531,792 shares of the real estate investment trust's stock valued at $241,091,000 after acquiring an additional 556,274 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of PennyMac Financial Services by 205.8% in the first quarter. JPMorgan Chase & Co. now owns 282,036 shares of the real estate investment trust's stock valued at $16,812,000 after acquiring an additional 548,677 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of PennyMac Financial Services by 322.3% in the first quarter. Goldman Sachs Group Inc. now owns 706,965 shares of the real estate investment trust's stock valued at $37,610,000 after acquiring an additional 539,539 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of PennyMac Financial Services in a report on Wednesday, January 10th. They set a "buy" rating and a $115.00 price objective for the company. Keefe, Bruyette & Woods raised shares of PennyMac Financial Services from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $100.00 to $105.00 in a report on Tuesday. Barclays lifted their price target on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an "overweight" rating in a report on Tuesday. StockNews.com raised shares of PennyMac Financial Services from a "sell" rating to a "hold" rating in a report on Thursday. Finally, Wedbush lifted their price target on shares of PennyMac Financial Services from $85.00 to $105.00 and gave the company an "outperform" rating in a report on Tuesday, January 2nd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $98.13.

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.