PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells $931,600.00 in Stock (2024)

Posted by Defense World Staff on May 18th, 2024

PennyMac Financial Services, Inc. (NYSE:PFSI – Get Free Report) CEO David Spector sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $93.16, for a total value of $931,600.00. Following the transaction, the chief executive officer now directly owns 240,604 shares of the company’s stock, valued at approximately $22,414,668.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

On Tuesday, April 9th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $90.72, for a total value of $907,200.00.
On Monday, March 11th, David Spector sold 26,451 shares of PennyMac Financial Services stock. The shares were sold at an average price of $86.05, for a total transaction 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 transaction of $1,307,700.00.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock opened at $93.37 on Friday. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 32.42, a price-to-earnings-growth ratio of 0.61 and a beta of 1.68. PennyMac Financial Services, Inc. has a 12 month low of $58.65 and a 12 month high of $94.78. 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 stock’s 50-day moving average is $89.24 and its 200-day moving average is $85.66.

PennyMac Financial Services (NYSE:PFSI – Get Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $305.66 million for the quarter, compared to analyst estimates of $422.87 million. Equities analysts anticipate that PennyMac Financial Services, Inc. will post 10.55 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Tuesday, May 14th will be issued a dividend of $0.20 per share. The ex-dividend date is Monday, May 13th. This represents a $0.80 annualized dividend and a dividend yield of 0.86%. PennyMac Financial Services’s payout ratio is 27.78%.

Analysts Set New Price Targets

PFSI has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Barclays raised their price objective on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods reduced their target price on PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Wedbush restated an “outperform” rating and issued a $110.00 price target on shares of PennyMac Financial Services in a report on Thursday, April 25th. Finally, StockNews.com upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $97.75.

Check Out Our Latest Analysis on PFSI

Institutional Trading of PennyMac Financial Services

Several large investors have recently added to or reduced their stakes in the stock. Federated Hermes Inc. boosted its position in shares of PennyMac Financial Services by 40.0% in the fourth quarter. Federated Hermes Inc. now owns 60,346 shares of the real estate investment trust’s stock worth $5,333,000 after buying an additional 17,245 shares during the period. Qube Research & Technologies Ltd acquired a new stake in PennyMac Financial Services in the third quarter valued at approximately $3,370,000. Graham Capital Management L.P. purchased a new stake in shares of PennyMac Financial Services during the third quarter valued at approximately $1,237,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of PennyMac Financial Services during the third quarter worth $3,657,000. Finally, Invesco Ltd. lifted its position in shares of PennyMac Financial Services by 47.6% during the third quarter. Invesco Ltd. now owns 490,297 shares of the real estate investment trust’s stock worth $32,654,000 after purchasing an additional 158,181 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

About PennyMac Financial Services

(Get Free Report)

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.

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