Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells $698,398.68 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 6,839 shares of PennyMac Financial Services stock in a transaction dated 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 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 position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• 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 value 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 value 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 Performance

Shares of PFSI stock opened at $102.88 on Thursday. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.38 and a current ratio of 0.26. PennyMac Financial Services, Inc. has a fifty-two week low of $83.03 and a fifty-two week high of $119.13. The stock has a 50 day moving average price of $103.64 and a two-hundred day moving average price of $105.15. The company has a market capitalization of $5.29 billion, a P/E ratio of 17.62, a PEG ratio of 0.19 and a beta of 1.78.

PennyMac Financial Services (NYSE:PFSI) last announced 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 net margin of 19.54% and a return on equity of 16.61%. Analysts expect that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, February 23rd. Stockholders of record on Thursday, February 13th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, February 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.17%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 20.55%.

Hedge Funds Weigh In On PennyMac Financial Services

Hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. purchased a new position in shares of PennyMac Financial Services during the third quarter valued at approximately $37,000. TD Waterhouse Canada Inc. purchased a new position in shares of PennyMac Financial Services during the fourth quarter valued at approximately $39,000. Sterling Capital Management LLC increased its stake in shares of PennyMac Financial Services by 601.8% during the fourth quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 343 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of PennyMac Financial Services during the fourth quarter valued at approximately $71,000. Finally, Parkside Financial Bank & Trust increased its stake in shares of PennyMac Financial Services by 54.7% during 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 during the period. 57.87% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Keefe, Bruyette & Woods dropped their target price 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 dropped their target price on 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. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $122.17.

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.