David Spector Sells 61,120 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 61,120 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $101.72, for a total transaction of $6,217,126.40. Following the transaction, the chief executive officer now owns 634,612 shares of the company’s stock, valued at approximately $64,552,732.64. This represents a 8.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, December 4th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $104.95, for a total value of $1,049,500.00.
• On Tuesday, November 12th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $105.04, for a total transaction of $1,050,400.00.
• On Monday, October 14th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $107.57, for a total transaction of $1,075,700.00.

PennyMac Financial Services Stock Performance

PFSI stock opened at $102.18 on Wednesday. The business has a 50 day moving average of $104.02 and a 200-day moving average of $102.32. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The firm has a market cap of $5.24 billion, a PE ratio of 32.44 and a beta of 1.78. PennyMac Financial Services, Inc. has a 12-month low of $81.93 and a 12-month high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing the consensus estimate of $2.92 by ($1.62). The firm had revenue of $411.83 million during the quarter, compared to analysts’ expectations of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business posted $1.77 EPS. As a group, sell-side analysts expect that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th were paid a $0.30 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. PennyMac Financial Services’s dividend payout ratio is currently 38.10%.

Analyst Ratings Changes

A number of analysts recently weighed in on PFSI shares. Wells Fargo & Company increased their price objective on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods reduced their target price on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a report on Tuesday, December 10th. Barclays lifted their target price on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Wedbush reaffirmed an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Finally, Piper Sandler lifted their price objective on PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $122.50.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. KBC Group NV lifted its holdings in shares of PennyMac Financial Services by 20.3% in the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust’s stock worth $153,000 after acquiring an additional 226 shares during the last quarter. Blue Trust Inc. lifted its stake in PennyMac Financial Services by 59.5% in the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust’s stock worth $80,000 after acquiring an additional 262 shares during the period. Quantbot Technologies LP boosted its holdings in PennyMac Financial Services by 23.7% in the third quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust’s stock valued at $173,000 after acquiring an additional 290 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of PennyMac Financial Services in the 3rd quarter worth about $37,000. Finally, Arizona State Retirement System boosted its position in PennyMac Financial Services by 2.9% during the 2nd quarter. Arizona State Retirement System now owns 11,999 shares of the real estate investment trust’s stock valued at $1,135,000 after acquiring an additional 336 shares in the last quarter. Institutional investors 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.