PennyMac Financial Services, Inc. (NYSE:PFSI) CEO David Spector Sells 10,000 Shares of Stock (2024)

Posted by Defense World Staff on Jun 6th, 2024

PennyMac Financial Services, Inc. (NYSE:PFSI – Get Free Report) CEO David Spector sold 10,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $90.56, for a total value of $905,600.00. Following the sale, the chief executive officer now directly owns 230,604 shares of the company’s stock, valued at $20,883,498.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

On Wednesday, May 15th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $93.16, for a total value of $931,600.00.
On Tuesday, April 9th, David Spector sold 10,000 shares of PennyMac Financial Services stock. The shares were 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 value of $2,276,108.55.

PennyMac Financial Services Price Performance

NYSE:PFSI opened at $92.25 on Thursday. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of 32.03, a P/E/G ratio of 0.59 and a beta of 1.70. PennyMac Financial Services, Inc. has a 52-week low of $62.15 and a 52-week high of $94.80. The stock has a fifty day moving average of $90.10 and a 200 day moving average of $87.43. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.39 and a current ratio of 0.39.

PennyMac Financial Services (NYSE:PFSI – Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.14. The company had revenue of $305.66 million during the quarter, compared to analyst estimates of $422.87 million. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. On average, research analysts expect that PennyMac Financial Services, Inc. will post 10.55 EPS for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Tuesday, May 14th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.87%. The ex-dividend date was Monday, May 13th. PennyMac Financial Services’s dividend payout ratio is 27.78%.

Analyst Upgrades and Downgrades

PFSI has been the subject of several research reports. Wedbush reissued an “outperform” rating and set a $110.00 price objective on shares of PennyMac Financial Services in a report on Thursday, April 25th. StockNews.com lowered PennyMac Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, May 21st. Keefe, Bruyette & Woods reduced their price objective on PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Friday, April 26th. Barclays raised their price target on PennyMac Financial Services from $103.00 to $112.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, PennyMac Financial Services has a consensus rating of “Moderate Buy” and a consensus target price of $97.75.

View Our Latest Analysis on PennyMac Financial Services

Institutional Investors Weigh In On PennyMac Financial Services

Several large investors have recently added to or reduced their stakes in PFSI. Dimensional Fund Advisors LP raised its position in PennyMac Financial Services by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,691,512 shares of the real estate investment trust’s stock valued at $237,851,000 after purchasing an additional 70,178 shares in the last quarter. Vanguard Group Inc. raised its position in PennyMac Financial Services by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust’s stock valued at $238,509,000 after purchasing an additional 8,345 shares in the last quarter. Invesco Ltd. raised its position in 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 valued at $32,654,000 after purchasing an additional 158,181 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in PennyMac Financial Services by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 396,745 shares of the real estate investment trust’s stock valued at $35,060,000 after purchasing an additional 3,947 shares in the last quarter. Finally, Norges Bank purchased a new stake in PennyMac Financial Services during the fourth quarter valued at about $31,258,000. Institutional investors own 57.87% of the company’s stock.

PennyMac Financial Services Company Profile

(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.

You might be interested in:

Personal CFO Solutions LLC Has $8.23 Million Position in Alphabet Inc.

Alphabet Inc. Stake Trimmed by Platinum Investment Management Ltd.