PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti Sells 10,500 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $100.02, for a total transaction of $1,050,210.00. Following the sale, the chief financial officer now owns 225,497 shares in the company, valued at approximately $22,554,209.94. The trade was a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Daniel Stanley Perotti also recently made the following trade(s):

• On Thursday, September 26th, Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock. The shares were sold at an average price of $112.93, for a total transaction of $1,185,765.00.

PennyMac Financial Services Stock Performance

Shares of NYSE:PFSI opened at $102.48 on Tuesday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75. PennyMac Financial Services, Inc. has a 12 month low of $75.25 and a 12 month high of $119.13. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 32.53 and a beta of 1.79. The firm’s 50-day moving average is $107.25 and its 200 day moving average is $99.94.

PennyMac Financial Services (NYSE:PFSI) last announced its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The business had revenue of $411.83 million for the quarter, compared to analysts’ expectations of $513.12 million. During the same quarter last year, the firm earned $1.77 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. Research analysts predict that PennyMac Financial Services, Inc. will post 11.88 EPS for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. PennyMac Financial Services’s payout ratio is 38.10%.

Institutional Trading of PennyMac Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of PennyMac Financial Services in the first quarter worth about $202,000. Russell Investments Group Ltd. boosted its position in PennyMac Financial Services by 91.3% in the 1st quarter. Russell Investments Group Ltd. now owns 19,246 shares of the real estate investment trust’s stock valued at $1,753,000 after buying an additional 9,183 shares during the period. ProShare Advisors LLC grew its stake in PennyMac Financial Services by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 4,587 shares of the real estate investment trust’s stock worth $418,000 after acquiring an additional 361 shares in the last quarter. Vanguard Group Inc. increased its position in shares of 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 worth $238,509,000 after acquiring an additional 8,345 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of PennyMac Financial Services during the first quarter valued at approximately $315,000. 57.87% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PFSI has been the subject of a number of research analyst reports. Barclays raised their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Wells Fargo & Company raised their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Piper Sandler increased their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price target on the stock. in a research report on Monday, July 22nd. Finally, Wedbush reiterated an “outperform” rating and set a $130.00 price objective on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $115.86.

PennyMac Financial Services Company Profile

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.