PennyMac Financial Services (NYSE:PFSI) CEO Sells $928,300.00 in Stock

Key Points

• CEO David Spector sold 10,000 shares on April 14 at $92.83 for $928,300 under a pre‑arranged Rule 10b5‑1 plan, reducing his direct stake to 70,604 shares (a 12.41% decline, valued at about $6.55M).
• The April sale continues a recent pattern of sizable insider dispositions by Spector, including multiple block sales on March 6 and February 19, totaling over several million dollars in proceeds year‑to‑date.
• PennyMac shares traded down 0.8% to $91.89; the company missed Q4 EPS estimates ($1.97 vs. $3.23) and revenue was below expectations, though analysts maintain a consensus "Moderate Buy" with an average price target of $131.14 and the firm pays a $0.30 quarterly dividend (≈1.3% yield).

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CEO David Spector sold 10,000 shares of PennyMac Financial Services stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $92.83, for a total transaction of $928,300.00. Following the completion of the transaction, the chief executive officer directly owned 70,604 shares in the company, valued at $6,554,169.32. This represents a 12.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, March 6th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $86.39, for a total transaction of $863,900.00.
• On Friday, March 6th, David Spector sold 12,436 shares of PennyMac Financial Services stock. The stock was sold at an average price of $86.39, for a total transaction of $1,074,346.04.
• On Thursday, February 19th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $94.50, for a total transaction of $945,000.00.
• On Thursday, February 19th, David Spector sold 2,950 shares of PennyMac Financial Services stock. The stock was sold at an average price of $94.52, for a total transaction of $278,834.00.

PennyMac Financial Services Trading Down 0.8%

Shares of PFSI traded down $0.78 during midday trading on Wednesday, hitting $91.89. The stock had a trading volume of 475,986 shares, compared to its average volume of 831,239. PennyMac Financial Services, Inc. has a fifty-two week low of $82.65 and a fifty-two week high of $160.36. The business has a 50-day simple moving average of $89.99 and a two-hundred day simple moving average of $116.34. The firm has a market cap of $4.79 billion, a P/E ratio of 9.88, a price-to-earnings-growth ratio of 0.54 and a beta of 1.52. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 3.32.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its earnings results on Thursday, January 29th. The real estate investment trust reported $1.97 EPS for the quarter, missing the consensus estimate of $3.23 by ($1.26). PennyMac Financial Services had a return on equity of 10.20% and a net margin of 24.48%.The firm had revenue of $538.01 million during the quarter, compared to analyst estimates of $639.81 million. During the same quarter in the previous year, the business earned $1.95 earnings per share. The business's quarterly revenue was up 14.4% compared to the same quarter last year. As a group, equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 26th. Shareholders of record on Monday, February 16th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, February 13th. PennyMac Financial Services's dividend payout ratio (DPR) is presently 12.90%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of PennyMac Financial Services from $135.00 to $110.00 and set an "overweight" rating for the company in a report on Thursday, April 9th. BTIG Research restated a "buy" rating on shares of PennyMac Financial Services in a report on Friday, January 30th. Wall Street Zen cut shares of PennyMac Financial Services from a "hold" rating to a "sell" rating in a report on Saturday. Jefferies Financial Group assumed coverage on shares of PennyMac Financial Services in a report on Friday, December 19th. They set a "buy" rating and a $160.00 price target for the company. Finally, Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $115.00 price target for the company in a report on Monday, March 16th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, PennyMac Financial Services presently has a consensus rating of "Moderate Buy" and an average price target of $131.14.

Institutional Trading of PennyMac Financial Services

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC acquired a new stake in PennyMac Financial Services in the second quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd lifted its stake in PennyMac Financial Services by 7,600.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 231 shares of the real estate investment trust's stock valued at $30,000 after acquiring an additional 228 shares during the last quarter. Strs Ohio acquired a new stake in PennyMac Financial Services in the first quarter valued at approximately $30,000. Los Angeles Capital Management LLC acquired a new stake in PennyMac Financial Services in the fourth quarter valued at approximately $31,000. Finally, GAMMA Investing LLC lifted its stake in PennyMac Financial Services by 97.3% in the fourth quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust's stock valued at $38,000 after acquiring an additional 142 shares during the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc NYSE: PFSI is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.