PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CEO David Spector sold 61,120 shares of PennyMac Financial Services stock in a transaction on Friday, December 20th. The shares were sold at an average price of $101.72, for a total value of $6,217,126.40. Following the completion of the sale, the chief executive officer now directly owns 634,612 shares of the company's stock, valued at approximately $64,552,732.64. This represents a 8.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
David Spector also recently made the following trade(s):
Shares of NYSE PFSI traded down $0.65 on Monday, hitting $101.01. The company had a trading volume of 339,502 shares, compared to its average volume of 258,461. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. PennyMac Financial Services, Inc. has a 12-month low of $81.93 and a 12-month high of $119.13. The firm has a market capitalization of $5.18 billion, a P/E ratio of 32.07 and a beta of 1.78. The business has a 50 day moving average of $104.30 and a two-hundred day moving average of $102.16.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share for the quarter, missing analysts' consensus estimates of $2.92 by ($1.62). The company had revenue of $411.83 million during the quarter, compared to analysts' expectations of $513.12 million. PennyMac Financial Services had a return on equity of 15.13% and a net margin of 11.45%. The firm's revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.77 EPS. As a group, equities research analysts forecast that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Monday, November 18th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.19%. The ex-dividend date was Monday, November 18th. PennyMac Financial Services's dividend payout ratio (DPR) is 38.10%.
A number of research firms have weighed in on PFSI. Barclays increased their price target on shares of PennyMac Financial Services from $112.00 to $125.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Piper Sandler lifted their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Wells Fargo & Company upped their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, October 24th. Wedbush restated an "outperform" rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods decreased their target price on PennyMac Financial Services from $112.00 to $111.00 and set a "market perform" rating for the company in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $122.50.
View Our Latest Report on PFSI
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. KBC Group NV boosted its stake in shares of PennyMac Financial Services by 20.3% during the 3rd quarter. KBC Group NV now owns 1,340 shares of the real estate investment trust's stock valued at $153,000 after buying an additional 226 shares during the last quarter. Blue Trust Inc. raised its holdings in PennyMac Financial Services by 59.5% in the third quarter. Blue Trust Inc. now owns 702 shares of the real estate investment trust's stock valued at $80,000 after acquiring an additional 262 shares in the last quarter. Quantbot Technologies LP boosted its stake in PennyMac Financial Services by 23.7% during the 3rd quarter. Quantbot Technologies LP now owns 1,516 shares of the real estate investment trust's stock valued at $173,000 after acquiring an additional 290 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in PennyMac Financial Services during the 3rd quarter worth $37,000. Finally, Arizona State Retirement System increased its position in shares of PennyMac Financial Services by 2.9% in the 2nd quarter. Arizona State Retirement System now owns 11,999 shares of the real estate investment trust's stock worth $1,135,000 after purchasing an additional 336 shares during the last quarter. 57.87% of the stock is owned by hedge funds and other institutional investors.
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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