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

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

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 stock was sold at an average price of $112.93, for a total value of $1,185,765.00.

PennyMac Financial Services Price Performance

Shares of PFSI traded up $0.31 during trading hours on Monday, hitting $102.48. 169,830 shares of the stock were exchanged, compared to its average volume of 258,891. The stock’s 50-day moving average price is $107.35 and its two-hundred day moving average price is $99.84. PennyMac Financial Services, Inc. has a 12-month low of $75.25 and a 12-month high of $119.13. The company has a debt-to-equity ratio of 2.75, a quick ratio of 0.38 and a current ratio of 0.38. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 32.48 and a beta of 1.79.

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

PennyMac Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th will be given a $0.30 dividend. The ex-dividend date is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.17%. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 38.10%.

Hedge Funds Weigh In On PennyMac Financial Services

A number of institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. increased its stake in shares of 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 worth $1,753,000 after acquiring an additional 9,183 shares during the last quarter. Edgestream Partners L.P. boosted its position in shares of PennyMac Financial Services by 349.5% during the 1st quarter. Edgestream Partners L.P. now owns 23,774 shares of the real estate investment trust’s stock worth $2,166,000 after purchasing an additional 18,485 shares during the period. Vanguard Group Inc. grew its stake in shares of PennyMac Financial Services by 0.3% in the first quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust’s stock valued at $238,509,000 after buying an additional 8,345 shares in the last quarter. Maverick Capital Ltd. increased its stake in PennyMac Financial Services by 263.8% during the second quarter. Maverick Capital Ltd. now owns 12,904 shares of the real estate investment trust’s stock worth $1,221,000 after purchasing an additional 9,357 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of PennyMac Financial Services by 13.2% during the second quarter. American Century Companies Inc. now owns 347,979 shares of the real estate investment trust’s stock worth $32,919,000 after purchasing an additional 40,676 shares in the last quarter. Hedge funds and other institutional investors own 57.87% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PFSI. Piper Sandler raised their price target on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Barclays lifted their price target on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods downgraded 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. Wedbush restated an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company increased their target price on PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, PennyMac Financial Services currently has an average rating of “Moderate Buy” and an average 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.