PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells $517,200.00 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CEO David Spector sold 5,000 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $103.44, for a total value of $517,200.00. Following the completion of the transaction, the chief executive officer now owns 150,604 shares in the company, valued at $15,578,477.76. The trade was a 3.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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 stock was sold at an average price of $101.28, for a total value of $506,400.00.
• 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 stock was sold at an average price of $99.38, for a total transaction of $496,900.00.

PennyMac Financial Services Trading Up 0.6 %

Shares of PennyMac Financial Services stock traded up $0.64 during trading hours on Friday, hitting $103.52. The company's stock had a trading volume of 1,187,270 shares, compared to its average volume of 287,367. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. The stock has a 50 day moving average of $102.33 and a 200 day moving average of $104.18. PennyMac Financial Services, Inc. has a 12 month low of $83.03 and a 12 month high of $119.13. The company has a market capitalization of $5.32 billion, a PE ratio of 17.73, a price-to-earnings-growth ratio of 0.19 and a beta of 1.73.

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PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share for the quarter, missing analysts' consensus estimates of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. Analysts predict 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. Shareholders of record on Thursday, February 13th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Thursday, February 13th. PennyMac Financial Services's payout ratio is 20.55%.

Wall Street Analysts Forecast Growth

Several analysts have commented on PFSI shares. Piper Sandler dropped their target price on shares of PennyMac Financial Services from $132.00 to $130.00 and set an "overweight" rating for the company in a research report on Friday, January 31st. Keefe, Bruyette & Woods dropped their price objective on 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. 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. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $122.17.

Hedge Funds Weigh In On PennyMac Financial Services

Large investors have recently bought and sold shares of the company. ProShare Advisors LLC grew its stake in shares of PennyMac Financial Services by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 7,530 shares of the real estate investment trust's stock valued at $769,000 after buying an additional 2,478 shares in the last quarter. Millennium Management LLC lifted its holdings in PennyMac Financial Services by 104.5% during the 4th quarter. Millennium Management LLC now owns 518,574 shares of the real estate investment trust's stock worth $52,967,000 after purchasing an additional 264,956 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of PennyMac Financial Services by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,217 shares of the real estate investment trust's stock worth $1,554,000 after buying an additional 606 shares in the last quarter. Interval Partners LP boosted its holdings in PennyMac Financial Services by 379.7% in the 4th quarter. Interval Partners LP now owns 39,320 shares of the real estate investment trust's stock valued at $4,016,000 after purchasing an additional 31,123 shares during the period. Finally, Crestline Management LP acquired a new stake in shares of PennyMac Financial Services in the fourth quarter valued at approximately $974,000. Institutional investors and hedge funds 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.