PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector Sells 15,000 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 15,000 shares of PennyMac Financial Services stock in a transaction dated Thursday, January 13th. The stock was sold at an average price of $69.52, for a total transaction of $1,042,800.00. The sale 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, December 6th, David Spector sold 15,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $69.22, for a total transaction of $1,038,300.00.
  • On Thursday, November 18th, David Spector sold 15,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $62.28, for a total transaction of $934,200.00.
  • On Wednesday, October 20th, David Spector sold 15,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $67.51, for a total transaction of $1,012,650.00.

PFSI stock traded down $0.66 during midday trading on Friday, reaching $68.90. 587,370 shares of the company’s stock traded hands, compared to its average volume of 558,537. The company has a market capitalization of $4.07 billion, a P/E ratio of 3.86 and a beta of 1.21. The company has a debt-to-equity ratio of 2.64, a current ratio of 0.26 and a quick ratio of 0.26. PennyMac Financial Services, Inc. has a fifty-two week low of $55.11 and a fifty-two week high of $71.52. The business has a 50-day moving average price of $67.38 and a two-hundred day moving average price of $65.01.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Thursday, November 4th. The real estate investment trust reported $3.80 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.49. The firm had revenue of $786.61 million for the quarter, compared to analysts’ expectations of $832.20 million. PennyMac Financial Services had a net margin of 36.50% and a return on equity of 36.99%. PennyMac Financial Services’s revenue was down 29.8% compared to the same quarter last year. During the same period in the previous year, the company posted $7.03 earnings per share. As a group, research analysts forecast that PennyMac Financial Services, Inc. will post 20.36 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 24th. Shareholders of record on Monday, November 15th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, November 12th. This represents a $0.80 dividend on an annualized basis and a yield of 1.16%. PennyMac Financial Services’s dividend payout ratio (DPR) is 4.48%.

A number of equities research analysts recently issued reports on the stock. Barclays boosted their target price on shares of PennyMac Financial Services from $103.00 to $113.00 in a report on Monday. Zacks Investment Research upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $85.75.

A number of hedge funds have recently made changes to their positions in the business. Basswood Capital Management L.L.C. lifted its position in shares of PennyMac Financial Services by 27.9% during the second quarter. Basswood Capital Management L.L.C. now owns 2,462,355 shares of the real estate investment trust’s stock worth $151,977,000 after purchasing an additional 537,407 shares in the last quarter. Senvest Management LLC lifted its position in shares of PennyMac Financial Services by 1.5% during the third quarter. Senvest Management LLC now owns 2,016,661 shares of the real estate investment trust’s stock worth $123,278,000 after purchasing an additional 30,000 shares in the last quarter. BlueCrest Capital Management Ltd lifted its position in shares of PennyMac Financial Services by 91.5% during the third quarter. BlueCrest Capital Management Ltd now owns 610,611 shares of the real estate investment trust’s stock worth $37,327,000 after purchasing an additional 291,799 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of PennyMac Financial Services by 86.2% during the second quarter. Goldman Sachs Group Inc. now owns 600,222 shares of the real estate investment trust’s stock worth $37,045,000 after purchasing an additional 277,849 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of PennyMac Financial Services by 93.5% during the third quarter. Renaissance Technologies LLC now owns 466,000 shares of the real estate investment trust’s stock worth $28,487,000 after purchasing an additional 225,200 shares in the last quarter. 61.64% of the stock is currently owned by hedge funds and other institutional investors.

PennyMac Financial Services Company Profile

PennyMac Financial Services, Inc operates as a holding company. The firm engages in the production and servicing of U.S. residential mortgage loans. It operates through the following segments: Production, Servicing, and Investment Management. The Production segment includes mortgage loan origination, acquisition, and sale activities.

Read More: What is included in the gross domestic product?

Insider Buying and Selling by Quarter for PennyMac Financial Services (NYSE:PFSI)

Receive News & Ratings for PennyMac Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennyMac Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.