Insider Selling: PennyMac Financial Services (NYSE:PFSI) CFO Sells 8,775 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 8,775 shares of PennyMac Financial Services stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $126.67, for a total value of $1,111,529.25. Following the transaction, the chief financial officer owned 216,475 shares of the company’s stock, valued at $27,420,888.25. This represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, October 24th, Daniel Stanley Perotti sold 26,011 shares of PennyMac Financial Services stock. The shares were sold at an average price of $131.36, for a total value of $3,416,804.96.
• On Wednesday, October 22nd, Daniel Stanley Perotti sold 13,110 shares of PennyMac Financial Services stock. The stock was sold at an average price of $130.71, for a total value of $1,713,608.10.
• On Friday, September 5th, Daniel Stanley Perotti sold 2,925 shares of PennyMac Financial Services stock. The stock was sold at an average price of $116.63, for a total value of $341,142.75.
• On Tuesday, September 2nd, Daniel Stanley Perotti sold 5,850 shares of PennyMac Financial Services stock. The shares were sold at an average price of $108.20, for a total value of $632,970.00.

PennyMac Financial Services Price Performance

Shares of PFSI traded up $0.50 during trading hours on Tuesday, reaching $124.97. 242,911 shares of the company traded hands, compared to its average volume of 378,546. The stock has a market capitalization of $6.49 billion, a PE ratio of 13.47 and a beta of 1.56. The stock has a fifty day simple moving average of $123.92 and a 200 day simple moving average of $108.67. PennyMac Financial Services, Inc. has a fifty-two week low of $85.74 and a fifty-two week high of $134.56. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.01.

PennyMac Financial Services (NYSE:PFSI) last released its earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.98 by $0.39. PennyMac Financial Services had a net margin of 25.21% and a return on equity of 11.69%. The company had revenue of $632.90 million for the quarter, compared to analyst estimates of $573.46 million. During the same period in the prior year, the firm earned $1.30 EPS. The firm’s quarterly revenue was up 53.7% on a year-over-year basis. As a group, research analysts predict that PennyMac Financial Services, Inc. will post 13.77 EPS for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Monday, November 17th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.20 annualized dividend and a dividend yield of 1.0%. PennyMac Financial Services’s dividend payout ratio is presently 12.93%.

Analyst Ratings Changes

PFSI has been the subject of several recent analyst reports. Barclays lifted their target price on shares of PennyMac Financial Services from $136.00 to $139.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. BTIG Research reaffirmed a “buy” rating and issued a $135.00 price objective on shares of PennyMac Financial Services in a research report on Wednesday, October 22nd. Wall Street Zen upgraded PennyMac Financial Services from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of PennyMac Financial Services in a research report on Friday, October 31st. Finally, Keefe, Bruyette & Woods lifted their price target on PennyMac Financial Services from $129.00 to $138.00 and gave the company a “market perform” rating in a report on Friday, October 24th. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $138.67.

Institutional Investors Weigh In On PennyMac Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC acquired a new position in shares of PennyMac Financial Services in the 2nd quarter valued at about $26,000. CWM LLC increased its position in PennyMac Financial Services by 71.5% during the 1st quarter. CWM LLC now owns 271 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 113 shares in the last quarter. Strs Ohio acquired a new stake in PennyMac Financial Services during the 1st quarter worth approximately $30,000. Bayforest Capital Ltd purchased a new position in PennyMac Financial Services in the second quarter valued at approximately $62,000. Finally, Harbor Capital Advisors Inc. lifted its position in PennyMac Financial Services by 26.3% during the third quarter. Harbor Capital Advisors Inc. now owns 504 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 105 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

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.