PennyMac Financial Services, Inc. (NYSE:PFSI) CEO Sells $912,000.00 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI – Get Rating) CEO David Spector sold 15,000 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $60.80, for a total value of $912,000.00. Following the completion of the sale, the chief executive officer now directly owns 450,604 shares in the company, valued at $27,396,723.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, March 1st, David Spector sold 26,169 shares of PennyMac Financial Services stock. The shares were sold at an average price of $60.64, for a total transaction of $1,586,888.16.
• On Monday, December 12th, David Spector sold 12,750 shares of PennyMac Financial Services stock. The stock was sold at an average price of $58.12, for a total transaction of $741,030.00.

PennyMac Financial Services Stock Up 0.6 %

PennyMac Financial Services stock opened at $61.78 on Friday. PennyMac Financial Services, Inc. has a 12 month low of $38.53 and a 12 month high of $73.79. The stock has a fifty day simple moving average of $62.72 and a two-hundred day simple moving average of $56.17. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 1.46. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 7.36 and a beta of 1.49.

PennyMac Financial Services (NYSE:PFSI – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The real estate investment trust reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. The company had revenue of $340.45 million during the quarter, compared to the consensus estimate of $326.70 million. PennyMac Financial Services had a return on equity of 14.00% and a net margin of 23.95%. Equities analysts predict that PennyMac Financial Services, Inc. will post 6.76 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 24th. Investors of record on Tuesday, February 14th were given a dividend of $0.20 per share. The ex-dividend date was Monday, February 13th. This represents a $0.80 dividend on an annualized basis and a yield of 1.29%. PennyMac Financial Services’s dividend payout ratio (DPR) is 9.54%.

Analyst Upgrades and Downgrades

PFSI has been the topic of a number of recent research reports. StockNews.com upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Saturday, February 11th. Wells Fargo & Company raised PennyMac Financial Services from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $54.00 to $75.00 in a research report on Tuesday, December 6th. JMP Securities downgraded PennyMac Financial Services from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 18th. Finally, Barclays raised their price target on PennyMac Financial Services from $58.00 to $69.00 and gave the company an “equal weight” rating in a report on Friday, February 3rd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PennyMac Financial Services currently has an average rating of “Hold” and a consensus price target of $69.50.

Institutional Investors Weigh In On PennyMac Financial Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new position in shares of PennyMac Financial Services in the 1st quarter worth $519,000. MetLife Investment Management LLC boosted its position in PennyMac Financial Services by 39.6% in the first quarter. MetLife Investment Management LLC now owns 15,934 shares of the real estate investment trust’s stock worth $848,000 after purchasing an additional 4,522 shares during the last quarter. LSV Asset Management grew its stake in shares of PennyMac Financial Services by 12.3% during the 1st quarter. LSV Asset Management now owns 53,212 shares of the real estate investment trust’s stock valued at $2,831,000 after purchasing an additional 5,846 shares during the period. Dimensional Fund Advisors LP increased its position in shares of PennyMac Financial Services by 93.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 783,884 shares of the real estate investment trust’s stock valued at $41,703,000 after purchasing an additional 379,161 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of PennyMac Financial Services by 19.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 2,932 shares of the real estate investment trust’s stock worth $156,000 after purchasing an additional 486 shares during the period. Hedge funds and other institutional investors own 67.03% of the company’s stock.

About PennyMac Financial Services

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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.