Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells 5,000 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $99.15, for a total transaction of $495,750.00. Following the transaction, the chief executive officer now directly owns 145,604 shares in the company, valued at approximately $14,436,636.60. The trade was a 3.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available 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 Stock Performance

Shares of PFSI 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 stock has a market capitalization of $5.26 billion, a P/E ratio of 17.43, a P/E/G ratio of 0.19 and a beta of 1.60. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.26 and a quick ratio of 0.38. PennyMac Financial Services, Inc. has a 12-month low of $85.74 and a 12-month high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.99 by ($1.57). The business had revenue of $430.90 million during the quarter, compared to analyst estimates of $520.42 million. PennyMac Financial Services had a return on equity of 16.61% and a net margin of 19.54%. During the same period in the prior year, the firm earned $0.74 EPS. Equities research analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently announced 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. This represents a $1.20 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Wednesday, May 14th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 18.40%.

Wall Street Analyst Weigh In

Several equities analysts have commented on PFSI shares. Wells Fargo & Company lowered their target price 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. UBS Group lowered their target price 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. Keefe, Bruyette & Woods raised 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 lowered 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 equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.17.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. increased its position in shares of PennyMac Financial Services by 0.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,289,819 shares of the real estate investment trust’s stock worth $429,454,000 after acquiring an additional 24,055 shares in the last quarter. Vanguard Group Inc. increased its position in shares of PennyMac Financial Services by 7.4% in the fourth quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust’s stock worth $294,835,000 after acquiring an additional 199,667 shares in the last quarter. FMR LLC increased its position in shares of PennyMac Financial Services by 11.9% in the fourth quarter. FMR LLC now owns 1,305,851 shares of the real estate investment trust’s stock worth $133,380,000 after acquiring an additional 138,853 shares in the last quarter. Invesco Ltd. increased its position in shares of PennyMac Financial Services by 4.5% in the first quarter. Invesco Ltd. now owns 1,237,118 shares of the real estate investment trust’s stock worth $123,848,000 after acquiring an additional 53,660 shares in the last quarter. Finally, Orbis Allan Gray Ltd increased its position in shares of PennyMac Financial Services by 447.5% in the first quarter. Orbis Allan Gray Ltd now owns 926,775 shares of the real estate investment trust’s stock worth $92,779,000 after acquiring an additional 757,489 shares in the last quarter. 57.87% of the stock is owned by hedge funds and other 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.