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 business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $92.06, for a total transaction of $920,600.00. Following the sale, the chief executive officer now directly owns 220,604 shares in the company, valued at approximately $20,308,804.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Monday, June 3rd, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $90.56, for a total value of $905,600.00.
• On Wednesday, May 15th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $93.16, for a total value of $931,600.00.

PennyMac Financial Services Price Performance

NYSE PFSI traded up $5.80 on Thursday, hitting $98.46. The company had a trading volume of 310,204 shares, compared to its average volume of 231,507. The company has a debt-to-equity ratio of 2.33, a current ratio of 0.39 and a quick ratio of 0.39. The company’s fifty day moving average price is $92.10 and its 200-day moving average price is $89.25. The company has a market capitalization of $5.01 billion, a PE ratio of 34.19, a PEG ratio of 0.60 and a beta of 1.72. PennyMac Financial Services, Inc. has a 12-month low of $62.15 and a 12-month high of $98.87.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.34 by $0.14. PennyMac Financial Services had a net margin of 10.94% and a return on equity of 10.48%. The business had revenue of $305.66 million during the quarter, compared to analysts’ expectations of $422.87 million. As a group, analysts predict that PennyMac Financial Services, Inc. will post 10.55 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Tuesday, May 14th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.81%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 27.78%.

Institutional Trading of PennyMac Financial Services

Large investors have recently made changes to their positions in the company. USA Financial Formulas purchased a new position in PennyMac Financial Services during the fourth quarter worth approximately $25,000. Hexagon Capital Partners LLC boosted its position in shares of PennyMac Financial Services by 128.9% during the 4th quarter. Hexagon Capital Partners LLC now owns 364 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 205 shares during the last quarter. Parkside Financial Bank & Trust acquired a new position in shares of PennyMac Financial Services during the 4th quarter valued at about $36,000. TFO Wealth Partners LLC grew its holdings in shares of PennyMac Financial Services by 16,300.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 1,141 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in PennyMac Financial Services during the first quarter worth about $202,000. 57.87% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PFSI shares. Deutsche Bank Aktiengesellschaft decreased their target price on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Keefe, Bruyette & Woods lifted their price objective on shares of PennyMac Financial Services from $100.00 to $102.00 and gave the company an “outperform” rating in a research note on Wednesday. Barclays increased their price objective on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. StockNews.com downgraded shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 3rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $110.00 price target on shares of PennyMac Financial Services in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.00.

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.