Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells $495,750.00 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $99.15, for a total transaction of $495,750.00. Following the completion of the transaction, the chief executive officer now owns 145,604 shares of the company’s stock, valued at $14,436,636.60. This trade represents a 3.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Wednesday, April 2nd, David Spector sold 5,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $103.44, for a total transaction of $517,200.00.
• 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 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.

PennyMac Financial Services Trading Up 1.0%

PennyMac Financial Services stock opened at $101.80 on Monday. The firm’s 50-day moving average is $97.72 and its 200-day moving average is $101.55. 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 1 year low of $85.74 and a 1 year high of $119.13. The company has a market cap of $5.26 billion, a P/E ratio of 17.43, a PEG ratio of 0.19 and a beta of 1.60.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.99 by ($1.57). PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. The business had revenue of $430.90 million during the quarter, compared to the consensus estimate of $520.42 million. During the same quarter in the previous year, the business posted $0.74 earnings per share. On average, equities 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 declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Wednesday, May 14th will be given a $0.30 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.18%. PennyMac Financial Services’s payout ratio is currently 18.40%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. UBS Group reduced their price objective on shares of PennyMac Financial Services from $115.00 to $110.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company reduced their price objective on shares of PennyMac Financial Services from $125.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Keefe, Bruyette & Woods upgraded shares of PennyMac Financial Services from a “market perform” rating to an “outperform” rating and set a $114.00 price objective on the stock in a research note on Tuesday, April 8th. Finally, Piper Sandler reduced their price objective on shares of PennyMac Financial Services from $130.00 to $128.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $121.17.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of PennyMac Financial Services in the 1st quarter worth about $18,701,000. Millennium Management LLC lifted its position in PennyMac Financial Services by 48.8% in the 1st quarter. Millennium Management LLC now owns 771,605 shares of the real estate investment trust’s stock valued at $77,245,000 after purchasing an additional 253,031 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in PennyMac Financial Services by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,923 shares of the real estate investment trust’s stock valued at $1,594,000 after purchasing an additional 706 shares during the last quarter. AQR Capital Management LLC lifted its position in PennyMac Financial Services by 3.8% in the 1st quarter. AQR Capital Management LLC now owns 24,012 shares of the real estate investment trust’s stock valued at $2,404,000 after purchasing an additional 875 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its position in PennyMac Financial Services by 150.4% in the 1st quarter. Maverick Capital Ltd. now owns 8,073 shares of the real estate investment trust’s stock valued at $808,000 after purchasing an additional 4,849 shares during the last quarter. 57.87% of the stock is currently owned by institutional investors.

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.