Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells 5,000 Shares of 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 Monday, July 7th. The stock was sold at an average price of $100.81, for a total transaction of $504,050.00. Following the completion of the sale, the chief executive officer owned 135,604 shares of the company's stock, valued at $13,670,239.24. This trade represents a 3.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, June 11th, David Spector sold 5,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $98.29, for a total value of $491,450.00.
• 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 value of $495,750.00.

PennyMac Financial Services Stock Down 1.1%

Shares of PFSI stock traded down $1.12 on Friday, hitting $100.13. The stock had a trading volume of 280,207 shares, compared to its average volume of 328,448. PennyMac Financial Services, Inc. has a one year low of $85.74 and a one year high of $119.13. The business has a 50 day moving average price of $97.86 and a 200 day moving average price of $99.81. The company has a market cap of $5.17 billion, a PE ratio of 15.36, a P/E/G ratio of 0.21 and a beta of 1.53. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 2.96.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its quarterly earnings data 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 business had revenue of $430.90 million for the quarter, compared to the consensus estimate of $520.42 million. PennyMac Financial Services had a net margin of 20.27% and a return on equity of 14.78%. During the same quarter in the prior year, the business posted $0.74 earnings per share. Research analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PFSI shares. Barclays cut their price objective on PennyMac Financial Services from $124.00 to $119.00 and set an "overweight" rating on the stock in a research report on Tuesday. Keefe, Bruyette & Woods upped their price target on shares of PennyMac Financial Services from $114.00 to $121.00 and gave the stock an "outperform" rating in a report on Thursday. UBS Group decreased 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 report on Wednesday, April 16th. Wells Fargo & Company lowered their price objective 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. Finally, Piper Sandler reduced their target price on shares of PennyMac Financial Services from $128.00 to $125.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 1st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $120.83.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in PFSI. CWM LLC lifted its stake in shares of PennyMac Financial Services by 71.5% during the 1st quarter. CWM LLC now owns 271 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 113 shares during the last quarter. Strs Ohio bought a new stake in shares of PennyMac Financial Services in the 1st quarter valued at about $30,000. TD Waterhouse Canada Inc. bought a new position in shares of PennyMac Financial Services during the 4th quarter worth approximately $39,000. Sterling Capital Management LLC raised its stake in shares of PennyMac Financial Services by 601.8% during the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock worth $41,000 after acquiring an additional 343 shares in the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in PennyMac Financial Services during the fourth quarter valued at approximately $71,000. 57.87% of the stock is owned by institutional investors.

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.