PennyMac Financial Services (NYSE:PFSI) CFO Daniel Stanley Perotti Sells 13,110 Shares

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 13,110 shares of the company’s stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $130.71, for a total transaction of $1,713,608.10. Following the sale, the chief financial officer owned 9,964 shares of the company’s stock, valued at $1,302,394.44. This represents a 56.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, September 5th, Daniel Stanley Perotti sold 2,925 shares of PennyMac Financial Services stock. The shares were sold at an average price of $116.63, for a total transaction of $341,142.75.
• On Tuesday, September 2nd, Daniel Stanley Perotti sold 5,850 shares of PennyMac Financial Services stock. The stock was sold at an average price of $108.20, for a total transaction of $632,970.00.

PennyMac Financial Services Stock Up 3.2%

NYSE PFSI opened at $132.64 on Friday. PennyMac Financial Services, Inc. has a 1 year low of $85.74 and a 1 year high of $134.56. The stock has a market capitalization of $6.86 billion, a PE ratio of 14.29 and a beta of 1.59. The company has a debt-to-equity ratio of 3.03, a current ratio of 0.34 and a quick ratio of 0.34. The business’s 50-day moving average is $118.52 and its 200 day moving average is $104.86.

PennyMac Financial Services (NYSE:PFSI) last released its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share for the quarter, topping the consensus estimate of $2.98 by $0.39. The business had revenue of $632.90 million during the quarter, compared to analysts’ expectations of $573.46 million. PennyMac Financial Services had a return on equity of 11.90% and a net margin of 25.21%.The business’s revenue was up 53.7% on a year-over-year basis. During the same quarter last year, the business posted $1.30 EPS. Sell-side analysts forecast that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 17th will be issued a $0.30 dividend. The ex-dividend date is Monday, November 17th. This represents a $1.20 annualized dividend and a yield of 0.9%. PennyMac Financial Services’s payout ratio is 12.93%.

Hedge Funds Weigh In On PennyMac Financial Services

A number of institutional investors and hedge funds have recently made changes to their positions in PFSI. T. Rowe Price Investment Management Inc. boosted its position in shares of PennyMac Financial Services by 0.6% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,289,819 shares of the real estate investment trust’s stock worth $429,454,000 after purchasing an additional 24,055 shares in the last quarter. Lightrock Netherlands B.V. raised its stake in PennyMac Financial Services by 55.1% during the first quarter. Lightrock Netherlands B.V. now owns 136,055 shares of the real estate investment trust’s stock valued at $13,643,000 after buying an additional 48,312 shares during the last quarter. Advantage Alpha Capital Partners LP boosted its holdings in PennyMac Financial Services by 26.3% in the first quarter. Advantage Alpha Capital Partners LP now owns 55,376 shares of the real estate investment trust’s stock worth $5,544,000 after acquiring an additional 11,528 shares in the last quarter. Maverick Capital Ltd. grew its stake in shares of PennyMac Financial Services by 150.4% in the first quarter. Maverick Capital Ltd. now owns 8,073 shares of the real estate investment trust’s stock worth $808,000 after acquiring an additional 4,849 shares during the last quarter. Finally, Conversant Capital LLC increased its holdings in shares of PennyMac Financial Services by 25.1% during the first quarter. Conversant Capital LLC now owns 244,150 shares of the real estate investment trust’s stock valued at $24,442,000 after acquiring an additional 49,000 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

Analysts Set New Price Targets

PFSI has been the subject of several research reports. Wall Street Zen upgraded shares of PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Monday, September 29th. BTIG Research reissued a “buy” rating and issued a $135.00 price target on shares of PennyMac Financial Services in a research note on Wednesday. UBS Group lifted their price objective on PennyMac Financial Services from $135.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday. Barclays upped their target price on PennyMac Financial Services from $136.00 to $139.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Zacks Research upgraded PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.67.

About PennyMac Financial Services

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.