Key Points
- CEO David Spector sold 5,000 PFSI shares on Dec. 16 at an average price of $129.81 for $649,050, cutting his stake to 110,604 shares (a 4.33% reduction) — part of a string of insider sales this year that included a 71,161‑share sale on Oct. 23.
- PennyMac has a $6.88 billion market cap and recent strong results — Q3 EPS of $3.37 topped estimates and revenue rose 53.7% year‑over‑year — and analysts have an average target of $142.43 (consensus: Moderate Buy).
PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CEO David Spector sold 5,000 shares of the company's stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $129.81, for a total transaction of $649,050.00. Following the completion of the sale, the chief executive officer directly owned 110,604 shares of the company's stock, valued at $14,357,505.24. The trade was a 4.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
David Spector also recently made the following trade(s):
- On Wednesday, November 12th, David Spector sold 5,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $129.26, for a total transaction of $646,300.00.
- On Thursday, October 23rd, David Spector sold 71,161 shares of PennyMac Financial Services stock. The shares were sold at an average price of $128.07, for a total transaction of $9,113,589.27.
- On Monday, October 6th, David Spector sold 5,000 shares of PennyMac Financial Services stock. The stock was sold at an average price of $118.42, for a total transaction of $592,100.00.
- On Tuesday, September 23rd, David Spector sold 5,000 shares of PennyMac Financial Services stock. The shares were sold at an average price of $122.97, for a total value of $614,850.00.
PennyMac Financial Services Price Performance
Shares of NYSE:PFSI opened at $132.36 on Friday. The company has a market capitalization of $6.88 billion, a PE ratio of 14.26 and a beta of 1.58. The company has a debt-to-equity ratio of 3.01, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a fifty day moving average of $127.64 and a 200-day moving average of $113.78. PennyMac Financial Services, Inc. has a one year low of $85.74 and a one year high of $136.62.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.98 by $0.39. PennyMac Financial Services had a return on equity of 11.69% and a net margin of 25.21%.The company had revenue of $632.90 million for the quarter, compared to analyst estimates of $573.46 million. During the same period in the previous year, the firm earned $1.30 earnings per share. PennyMac Financial Services's revenue for the quarter was up 53.7% compared to the same quarter last year. As a group, equities analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.
PennyMac Financial Services Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Monday, November 17th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $1.20 dividend on an annualized basis and a yield of 0.9%. PennyMac Financial Services's dividend payout ratio is currently 12.93%.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on PFSI. Keefe, Bruyette & Woods lifted their target price on shares of PennyMac Financial Services from $138.00 to $143.00 and gave the stock a "market perform" rating in a research report on Thursday. Barclays lifted their price objective on shares of PennyMac Financial Services from $136.00 to $139.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 22nd. BTIG Research restated a "buy" rating and issued a $135.00 target price on shares of PennyMac Financial Services in a report on Wednesday, October 22nd. UBS Group lifted their price target on PennyMac Financial Services from $135.00 to $145.00 and gave the company a "neutral" rating in a report on Friday, October 24th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of PennyMac Financial Services in a research note on Friday, October 31st. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $142.43.
View Our Latest Stock Report on PFSI
Hedge Funds Weigh In On PennyMac Financial Services
Several institutional investors and hedge funds have recently modified their holdings of the stock. Orbis Allan Gray Ltd increased its stake in shares of PennyMac Financial Services by 447.5% in the first quarter. Orbis Allan Gray Ltd now owns 926,775 shares of the real estate investment trust's stock worth $92,779,000 after acquiring an additional 757,489 shares during the last quarter. 140 Summer Partners LP purchased a new position in PennyMac Financial Services in the third quarter valued at about $55,268,000. Norges Bank acquired a new position in PennyMac Financial Services in the 2nd quarter worth about $39,976,000. Goldentree Asset Management LP purchased a new stake in shares of PennyMac Financial Services during the 2nd quarter worth about $29,249,000. Finally, Two Sigma Investments LP lifted its holdings in shares of PennyMac Financial Services by 1,148.7% during the 3rd quarter. Two Sigma Investments LP now owns 310,919 shares of the real estate investment trust's stock valued at $38,517,000 after buying an additional 286,019 shares during the last quarter. 57.87% of the stock is currently owned by hedge funds and other institutional investors.
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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