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 company's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $101.28, for a total transaction of $506,400.00. Following the sale, the chief executive officer now owns 155,604 shares of the company's stock, valued at $15,759,573.12. This trade represents a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, February 27th, David Spector sold 6,839 shares of PennyMac Financial Services stock. The shares were sold at an average price of $102.12, for a total transaction of $698,398.68.
• On Wednesday, January 8th, David Spector sold 5,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $99.38, for a total transaction of $496,900.00.
• On Friday, December 20th, David Spector sold 61,120 shares of PennyMac Financial Services stock. The stock was sold at an average price of $101.72, for a total transaction of $6,217,126.40.

PennyMac Financial Services Stock Up 0.8 %

Shares of NYSE:PFSI traded up $0.81 during midday trading on Friday, reaching $101.82. 256,854 shares of the company were exchanged, compared to its average volume of 339,433. PennyMac Financial Services, Inc. has a fifty-two week low of $83.03 and a fifty-two week high of $119.13. The company has a quick ratio of 0.38, a current ratio of 0.26 and a debt-to-equity ratio of 3.22. The stock has a fifty day simple moving average of $103.61 and a two-hundred day simple moving average of $105.17. The firm has a market cap of $5.24 billion, a PE ratio of 17.43, a P/E/G ratio of 0.19 and a beta of 1.90.

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PennyMac Financial Services (NYSE:PFSI - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. As a group, sell-side analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Investors of record on Thursday, February 13th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.18%. PennyMac Financial Services's dividend payout ratio (DPR) is currently 20.55%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating for the company in a report on Tuesday, December 10th. Piper Sandler lowered their price target on shares of PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating for the company in a report on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $122.17.

Institutional Trading of PennyMac Financial Services

Several institutional investors and hedge funds have recently bought and sold shares of the business. Harbor Capital Advisors Inc. bought a new stake in PennyMac Financial Services in the 3rd quarter valued at $37,000. TD Waterhouse Canada Inc. acquired a new stake in shares of PennyMac Financial Services during the 4th quarter worth $39,000. Sterling Capital Management LLC grew its holdings 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 purchasing an additional 343 shares in the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of PennyMac Financial Services during the 4th quarter worth $71,000. Finally, Parkside Financial Bank & Trust boosted its stake in PennyMac Financial Services by 54.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,100 shares of the real estate investment trust's stock valued at $112,000 after buying an additional 389 shares in the last quarter. Institutional investors own 57.87% of the company's stock.

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.