BofA update shows where active managers are putting money
David Spector, Chairman and CEO of PennyMac Financial Services, Inc. (NYSE:PFSI), a $5.3 billion market cap financial services company, has recently sold shares of the company’s stock, according to a new SEC filing. The transactions, executed under a pre-arranged Rule 10b5-1 trading plan, involved the sale of 5,000 shares for a total of approximately $517,196. The sales occurred on April 2, 2025, with prices ranging between $103.36 and $104.04 per share. According to InvestingPro analysis, PFSI is currently trading near its Fair Value, with analyst price targets ranging from $111 to $141.
Following these transactions, Spector holds 150,604 shares indirectly through ST Family Investment Company LLC and an additional 627,859 shares directly, which includes 36,299 restricted stock units. These units are set to convert into common stock upon vesting. The company has demonstrated strong performance with a 17.76% return over the past year, and InvestingPro data shows it trading at an attractive P/E ratio of 17.05 relative to its growth prospects. For deeper insights into PFSI’s valuation and growth potential, access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, PennyMac Financial Services reported its fourth-quarter 2024 earnings, missing analyst expectations with a diluted earnings per share (EPS) of $1.95, compared to the forecasted $3.03. The company’s revenue also fell short of expectations, coming in at $470.11 million against the anticipated $531.7 million. Additionally, PennyMac announced the successful closure of an $850 million senior notes offering, with the proceeds intended for repaying certain debts and supporting general corporate purposes. In a separate development, PennyMac disclosed plans to offer another $650 million in senior notes, contingent upon market conditions, to further manage its debt obligations. The company has been actively managing its debt portfolio, with the proceeds from these offerings aimed at repaying secured borrowings and supporting corporate activities. Despite the earnings miss, PennyMac’s strategic initiatives have continued to focus on growth in loan originations and servicing. Furthermore, during an earnings call, PennyMac’s management discussed their ongoing focus on technology and operational efficiency as part of their strategic financial maneuvering.
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