Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells 6,839 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CEO David Spector sold 6,839 shares of PennyMac Financial Services stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $102.12, for a total value of $698,398.68. Following the sale, the chief executive officer now directly owns 635,554 shares of the company's stock, valued at approximately $64,902,774.48. This trade represents a 1.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, March 6th, David Spector sold 5,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $101.28, for a total transaction of $506,400.00.
• On Wednesday, January 8th, David Spector sold 5,000 shares of PennyMac Financial Services stock. The stock was 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 shares were sold at an average price of $101.72, for a total transaction of $6,217,126.40.
• On Wednesday, December 4th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $104.95, for a total value of $1,049,500.00.

PennyMac Financial Services Stock Up 0.8 %

Shares of PFSI traded up $0.81 during midday trading on Friday, hitting $101.82. 256,854 shares of the company's stock traded hands, compared to its average volume of 339,433. PennyMac Financial Services, Inc. has a 1 year low of $83.03 and a 1 year high of $119.13. The firm's fifty day moving average is $103.61 and its 200-day moving average is $105.10. The company has a current ratio of 0.26, a quick ratio of 0.38 and a debt-to-equity ratio of 3.22. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 17.43, a price-to-earnings-growth ratio of 0.19 and a beta of 1.78.

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

PennyMac Financial Services Dividend Announcement

The business 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. This represents a $1.20 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services's dividend payout ratio (DPR) is presently 20.55%.

Institutional Trading of PennyMac Financial Services

Several large investors have recently bought and sold shares of the stock. Summit Investment Advisors Inc. lifted its stake in shares of PennyMac Financial Services by 5.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 2,797 shares of the real estate investment trust's stock worth $286,000 after buying an additional 154 shares during the period. KBC Group NV lifted its position in PennyMac Financial Services by 15.6% during the 4th quarter. KBC Group NV now owns 1,549 shares of the real estate investment trust's stock worth $158,000 after acquiring an additional 209 shares during the period. Quantbot Technologies LP lifted its position in PennyMac Financial Services by 23.7% during the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust's stock worth $173,000 after acquiring an additional 290 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in PennyMac Financial Services during the 3rd quarter valued at about $37,000. Finally, Sterling Capital Management LLC increased its holdings in shares of PennyMac Financial Services by 601.8% in the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock valued at $41,000 after purchasing an additional 343 shares during the period. Hedge funds and other institutional investors own 57.87% of the company's stock.

Analyst Upgrades and Downgrades

PFSI has been the subject of several recent research reports. Keefe, Bruyette & Woods reduced their price target on PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating for the company in a research report on Tuesday, December 10th. Piper Sandler cut their target price on PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating on the stock in a research note on Friday, January 31st. One 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $122.17.

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.