Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells 10,000 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 10,000 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $99.31, for a total transaction of $993,100.00. Following the sale, the chief executive officer now directly owns 210,604 shares of the company’s stock, valued at $20,915,083.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Wednesday, July 10th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $92.06, for a total transaction of $920,600.00.
• On Monday, June 3rd, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $90.56, for a total transaction of $905,600.00.

PennyMac Financial Services Stock Performance

Shares of NYSE PFSI traded up $2.88 during midday trading on Friday, reaching $102.39. 209,956 shares of the stock were exchanged, compared to its average volume of 246,133. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 34.55, a PEG ratio of 0.63 and a beta of 1.72. PennyMac Financial Services, Inc. has a twelve month low of $62.15 and a twelve month high of $105.94. The firm has a 50-day simple moving average of $96.28 and a two-hundred day simple moving average of $91.64. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). The firm had revenue of $406.13 million for the quarter, compared to analyst estimates of $469.64 million. PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. PennyMac Financial Services’s revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.11 EPS. As a group, analysts anticipate that PennyMac Financial Services, Inc. will post 10.54 EPS for the current fiscal year.

PennyMac Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th will be paid a dividend of $0.30 per share. This is a boost from PennyMac Financial Services’s previous quarterly dividend of $0.20. The ex-dividend date is Tuesday, August 13th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.17%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 41.67%.

Institutional Investors Weigh In On PennyMac Financial Services

Institutional investors have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd acquired a new stake in PennyMac Financial Services during the 4th quarter worth $967,000. UBS Group AG boosted its stake in PennyMac Financial Services by 40.6% during the 4th quarter. UBS Group AG now owns 82,027 shares of the real estate investment trust’s stock worth $7,249,000 after purchasing an additional 23,696 shares during the last quarter. Campbell & CO Investment Adviser LLC boosted its stake in PennyMac Financial Services by 165.0% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 24,753 shares of the real estate investment trust’s stock worth $2,187,000 after purchasing an additional 15,412 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in PennyMac Financial Services during the 4th quarter worth $1,019,000. Finally, Federated Hermes Inc. raised its holdings in shares of PennyMac Financial Services by 40.0% during the 4th quarter. Federated Hermes Inc. now owns 60,346 shares of the real estate investment trust’s stock worth $5,333,000 after acquiring an additional 17,245 shares during the period. Institutional investors and hedge funds own 57.87% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PFSI. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Keefe, Bruyette & Woods lowered shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price objective for the company. in a research report on Monday, July 22nd. Piper Sandler raised their price target on shares of PennyMac Financial Services from $110.00 to $112.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. StockNews.com lowered shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Finally, Wedbush raised their price target on shares of PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PennyMac Financial Services has an average rating of “Hold” and a consensus target price of $107.17.

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.