David Spector Sells 10,000 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector sold 10,000 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $90.72, for a total value of $907,200.00. Following the sale, the chief executive officer now owns 250,604 shares of the company’s stock, valued at $22,734,794.88. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, March 11th, David Spector sold 26,451 shares of PennyMac Financial Services stock. The stock was sold at an average price of $86.05, for a total value of $2,276,108.55.
• On Tuesday, February 20th, David Spector sold 15,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $87.18, for a total value of $1,307,700.00.
• On Tuesday, January 16th, David Spector sold 15,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $84.43, for a total value of $1,266,450.00.

PennyMac Financial Services Stock Performance

Shares of PFSI stock opened at $87.93 on Friday. The firm has a 50 day moving average of $88.08 and a 200-day moving average of $81.49. The company has a market cap of $4.43 billion, a price-to-earnings ratio of 32.45, a price-to-earnings-growth ratio of 0.59 and a beta of 1.67. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 1.90. PennyMac Financial Services, Inc. has a 52 week low of $56.16 and a 52 week high of $94.78.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Thursday, February 1st. The real estate investment trust reported $1.76 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.75. PennyMac Financial Services had a net margin of 10.32% and a return on equity of 7.69%. The business had revenue of $361.94 million during the quarter, compared to analysts’ expectations of $413.35 million. On average, equities analysts forecast that PennyMac Financial Services, Inc. will post 10.19 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Tuesday, February 13th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Monday, February 12th. PennyMac Financial Services’s dividend payout ratio (DPR) is currently 29.52%.

Analysts Set New Price Targets

A number of brokerages have issued reports on PFSI. Deutsche Bank Aktiengesellschaft began coverage on PennyMac Financial Services in a report on Wednesday, January 10th. They issued a “buy” rating and a $115.00 target price for the company. Keefe, Bruyette & Woods upgraded PennyMac Financial Services from a “market perform” rating to an “outperform” rating and upped their price target for the company from $100.00 to $105.00 in a research report on Tuesday. Wedbush upped their price target on PennyMac Financial Services from $85.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, January 2nd. Barclays upped their price target on PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, StockNews.com upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Thursday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, PennyMac Financial Services currently has an average rating of “Moderate Buy” and an average target price of $98.13.

Hedge Funds Weigh In On PennyMac Financial Services

Institutional investors have recently modified their holdings of the company. Citigroup Inc. grew its holdings in shares of PennyMac Financial Services by 100.7% during the first quarter. Citigroup Inc. now owns 5,768 shares of the real estate investment trust’s stock valued at $344,000 after buying an additional 850,545 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in PennyMac Financial Services by 7,011.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 801,420 shares of the real estate investment trust’s stock valued at $5,283,000 after acquiring an additional 790,151 shares in the last quarter. MFN Partners Management LP lifted its position in PennyMac Financial Services by 14.0% in the 1st quarter. MFN Partners Management LP now owns 4,531,792 shares of the real estate investment trust’s stock valued at $241,091,000 after acquiring an additional 556,274 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in PennyMac Financial Services by 205.8% during the 1st quarter. JPMorgan Chase & Co. now owns 282,036 shares of the real estate investment trust’s stock valued at $16,812,000 after purchasing an additional 548,677 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in PennyMac Financial Services by 322.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 706,965 shares of the real estate investment trust’s stock worth $37,610,000 after purchasing an additional 539,539 shares in the last quarter. 57.87% of the stock is owned by institutional investors and hedge funds.

PennyMac Financial Services Company Profile

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.