(business & personal). At PennyMac, our commitment to our customers doesnt end at closing. In the last year, insiders at the real estate investment trust sold shares 23 times. We also remain very active repurchasing shares driven by our medium-term expectations for PFSI's return on equity. These strong production volumes again led to servicing portfolio growth despite continued elevated prepayment activity. Fourth quarter performance was very strong across loan production and servicing and we continue to see the strength of our balanced business model in our results. Following the transaction, the chief executive officer now directly owns 650,183 shares in the company, valued at approximately $39,427,097.12. Our investment management segment delivered pretax income of $4.1 million, up from $1.4 million in the prior quarter as a result of incentive fees earned and down from $4.7 million in the second quarter of 2020. What is the average return per transaction made by David Spector? In his role as President of PennyMac Financial, Mr. Jones is responsible for all business activities relating to the company's loan production and servicing . Pennymac Westlake Village, CA office. Backtested results are adjusted to reflect the reinvestment of dividends and other income and, except where otherwise indicated, are presented gross-of fees and do not include the effect of backtested transaction costs, management fees, performance fees or expenses, if applicable. We saw significant market share growth in the conventional correspondent market this quarter and our leadership position in government loans remains as a result of our consistency, low costs and operational excellence we continue to provide to our correspondents. PennyMac Financial again delivered outstanding financial performance in the second quarter, driven by continued strong production and core servicing results partially offset by net MSR fair value declines. What was David Spectors latest transaction? Stanford Kurland, who went from being pushed out of the No. The price of the stock has decreased by 4.44% since. This concludes PennyMac Financial Services, Inc.'s second quarter earnings discussion. Government loan acquisitions in the quarter totaled $16.2 billion, down 7% from the prior quarter and up 47% from the second quarter of 2020. PennyMac remained the largest correspondent aggregator in the U.S. in the fourth quarter.
Interest rate lock volume was $5.7 billion in UPB, up 4% from the third quarter and 234% from the fourth quarter of 2019. Government correspondent locks were $19.7 billion in UPB, down 2% from the prior quarter and up 22% from the fourth quarter of 2019. Dans son rle . Segment revenue was $9.7 million, down from $9.8 million in the prior quarter which included gains related to PMT shares owned by PFSI. Roles that David Spector holds in companies, The most profitable trade made by David Spector, List of latest transactions for each holding click on a transaction to see David Spector's performance on stock.
David Spector - Chairman & Chief Executive Officer, PennyMac Loan Chart Data in Insider Trading History Table. Tower Research Capital LLC TRC Increases Stake in Centrus Energy Corp. Tower Research Capital LLC TRC Boosts Stock Position in Centrus Energy Corp. UBS Group AG Increases Position in Northern Oil and Gas, Inc. Tower Research Capital LLC TRC Increases Position in ABB Ltd (NYSE:ABB), Tower Research Capital LLC TRC Has $254,000 Holdings in Daqo New Energy Corp. (NYSE:DQ), ABB Ltd (NYSE:ABB) Shares Bought by Tower Research Capital LLC TRC, Tower Research Capital LLC TRC Increases Stake in Centrus Energy Corp. (NYSEAMERICAN:LEU), Tower Research Capital LLC TRC Boosts Stock Position in Centrus Energy Corp. (NYSEAMERICAN:LEU), UBS Group AG Increases Position in Northern Oil and Gas, Inc. (NYSE:NOG), Tower Research Capital LLC TRC Sells 3,797 Shares of Daqo New Energy Corp. (NYSE:DQ), Tower Research Capital LLC TRC Lowers Stake in Invesco Defensive Equity ETF (NYSEARCA:DEF), Tower Research Capital LLC TRC Acquires 94,572 Shares of Geron Co. (NASDAQ:GERN), Tower Research Capital LLC TRC Has $255,000 Stake in Geron Co. (NASDAQ:GERN), Gentherm Incorporated (NASDAQ:THRM) Stock Position Increased by Tower Research Capital LLC TRC, Tower Research Capital LLC TRC Sells 1,356 Shares of iShares Dow Jones U.S. ETF (NYSEARCA:IYY), Tower Research Capital LLC TRC Sells 4,212 Shares of Chesapeake Utilities Co. (NYSE:CPK), Tower Research Capital LLC TRC Has $260,000 Stock Position in Veradigm Inc. (NASDAQ:MDRX), Tower Research Capital LLC TRC Sells 2,680 Shares of The Toronto-Dominion Bank (NYSE:TD), Veradigm Inc. (NASDAQ:MDRX) Shares Bought by Tower Research Capital LLC TRC, UBS Group AG Has $3.26 Million Stock Holdings in Delek Logistics Partners, LP (NYSE:DKL), Tower Research Capital LLC TRC Decreases Stake in Westamerica Bancorporation (NASDAQ:WABC), Tower Research Capital LLC TRC Grows Stock Holdings in Barnes Group Inc. (NYSE:B), Woodside Energy Group Ltd (OTCMKTS:WOPEY) Shares Sold by UBS Group AG. This grew our servicing portfolio to over $426 billion in UPB even with elevated prepayment speeds. Segment revenue was $13.5 million, up 41% from the first quarter and 28% from June 30, 2020. The return on the trade was 60.70%. This financial performance is driven by the balanced business model in mortgage banking that we have built over the last 13 years. On Monday, February 27th, David Spector sold 15,000 shares of PennyMac Financial Services stock. We estimate that our market share in the channel has increased meaningfully since last year, and we now account for approximately 1.3% of total originations in the channel. GuruFocus has detected 5 severe warning signs with PennyMac Financial Services Inc. . View detailed PFSI description & address. We have long-standing partnerships with several EBO loan investors, with a program in place to buy delinquent Ginnie Mae loans out of securitizations and sell them to these third-party investors. The number of approved brokers totaled 1,574, up 11% over the end of the third quarter. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 7.36 and a beta of 1.49. Stockholders of record on Tuesday, February 14th were given a dividend of $0.20 per share. Lastly, we encourage investors with any questions to reach out to our Investor Relations team by email or phone.
PennyMac | Better Business Bureau Profile Search over 700 Direct lending locks were up 13% from the prior quarter, total correspondent lock volume was up 9% and the servicing portfolio was up 6% from the end of the third quarter. So while refinance origination volumes are expected to decline significantly over the next several years as a result of higher interest rates, we believe the outlook for PennyMac Financial remained strong, given our large profitable and growing servicing business, our position as one of the largest producers of purchase money loans in the U.S. and the continued expansion of our direct lending businesses. PennyMac Financial delivered strong fourth quarter results, marking the end to a record year. Since the start of 2020, we have repurchased approximately 13% of the PFSI shares that were outstanding at the beginning of 2020. For the complete insider trading history of PFSI, click here. Mr. Spector owns 650,183 shares of PennyMac Financial Services stock worth more than $40,948,525 as of March 4th. David Spector also recently made the following trade(s): PFSI stock opened at $61.78 on Friday. The company reported a net income of $1 billion in 2021, down from a record of $1.6 billion in the previous year. JMP Securities lowered PennyMac Financial Services from an outperform rating to a market perform rating in a report on Wednesday, January 18th. While our sub-service portfolio, consisting primarily of conventional loans, reported a 60-plus delinquency rate of 1.6%, down from 2.1% at March 31 as borrowers continue to emerge from forbearance plans. Payoff-related expenses, which include interest shortfall and recording and release fees related to prepayments, remained elevated but decreased slightly quarter-over-quarter.
David Spector Net Worth, Biography, and Insider Trading This outstanding income generated excess capital that we redeployed into increased levels of production, share repurchases, reduction of debt, and increased servicing activity. Net assets under management totaled $2.3 billion as of December 31, up 1% from September 30. Its Time For A Fresh Look At The Kroger Co. West Frasers Earnings Scream Timber, Outlook Says Buy, MarketBeat.com's FREE daily email newsletter, Tower Research Capital LLC TRC Increases Position in ABB Ltd. Tower Research Capital LLC TRC Has $254,000 Holdings in Daqo New Energy Corp. ABB Ltd Shares Bought by Tower Research Capital LLC TRC. Susquehanna Fundamental Investments LLC raised its position in shares of PennyMac Financial Services by 24.8% during the 4th quarter. Our balanced business model is a key strategic advantage for PFSI, which has consistently delivered outstanding returns across different environments, producing a 33% return on equity for the first half of 2021. If youre new to trading, then youve probably heard the wrong thing about optionsthat theyre risky, unpredictable, or difficult. Thank you, Isaac. And we believe the role of a well capitalized correspondent aggregator like PennyMac will be increasingly important over time. While our employee base grew by 60% during the year, our production volumes grew by 67% and our earnings increased by 328%. PennyMac Financial Services, Inc. operates as a holding company. He currently serves as a senior advisor to TPG Capital, a global private investment firm, and . David served as President and Chief Investment Officer and President and Chief Operating Officer for PennyMac. We built our correspondent business into the largest in the U.S. over the last decade while at the same time growing our servicing portfolio, primarily organically.
PennyMac Financial Services, Inc. (PFSI) CEO David Spector on Q4 2020 Pennymac has 10 current employee profiles, including President and Chief Executive Officer David Spector. PennyMac Financial Servicess payout ratio is 9.54%. I am Barclays' consumer finance analyst, Mark DeVries. So, from our home to yours, thank you! David A Spector, Pennymac Mortgage Investment: Profile and Biography - Bloomberg Markets Markets Trafigura's Nickel Nemesis Was Already Notorious in Metal Circles The Week Your Saturday UK. Finally, transactions like these provide meaningful savings to PennyMac Financial over the life of the loan while providing the opportunity for redelivery in the future. PennyMac Financial Services, Inc. (NYSE:PFSI Get Rating) CEO David Spector sold 26,169 shares of the firms stock in a transaction dated Wednesday, March 1st. Thank you Isaac. With PFSIs historical focus on purchase market originations combined with our large and growing servicing portfolio, we believe we are well-positioned to successfully grow share in all three of our production channels, driving an increase in our overall market position. Speaker: David Spector - Chairman and Chief Executive Officer Thank you Isaac. And, we continue to enhance our MAC portal, thus improving the ability for borrowers to self-service throughout the entire origination process. This high level of efficiency was largely due to our cloud-based, proprietary servicing system, otherwise known as SSE. We encourage investors with any questions to reach out to our Investor Relations team by e-mail or phone. David A. Spector has been President and Chief Executive Officer of PennyMac Financial Services, Inc. (NYSE: PFSI) since January 2017, and he has been a member of PennyMac Financials board of directors since the companys formation in January 2008. We are growing our best-in class tools and solutions we provide our brokers with to further enhance their self-service capabilities. Copyright 2023 Surperformance.