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 stock in a transaction on Friday, November 15th. The stock was sold at an average price of $100.02, for a total transaction of $1,050,210.00. Following the transaction, the chief financial officer now directly owns 225,497 shares in the company, valued at $22,554,209.94. The trade was a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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 transaction of $1,185,765.00.

PennyMac Financial Services Stock Up 2.3 %

NYSE PFSI opened at $104.87 on Wednesday. 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 firm has a 50-day simple moving average of $107.19 and a 200 day simple moving average of $100.04. PennyMac Financial Services, Inc. has a twelve month low of $75.25 and a twelve month high of $119.13. The stock has a market cap of $5.38 billion, a PE ratio of 33.29 and a beta of 1.79.

PennyMac Financial Services (NYSE:PFSI) last released its 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 net margin of 11.45% and a return on equity of 15.13%. The company had revenue of $411.83 million during the quarter, compared to the consensus estimate of $513.12 million. During the same quarter in the previous year, the business posted $1.77 EPS. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. On average, research analysts forecast that PennyMac Financial Services, Inc. will post 11.88 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Monday, November 18th. PennyMac Financial Services’s dividend payout ratio is 38.10%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PFSI. FMR LLC lifted its stake in PennyMac Financial Services by 231.9% during the third quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock worth $133,003,000 after purchasing an additional 815,389 shares during the period. Massachusetts Financial Services Co. MA bought a new position in PennyMac Financial Services during the third quarter worth about $24,644,000. Philadelphia Financial Management of San Francisco LLC bought a new position in PennyMac Financial Services during the third quarter worth about $21,890,000. Edgestream Partners L.P. lifted its stake in PennyMac Financial Services by 256.9% during the second quarter. Edgestream Partners L.P. now owns 84,861 shares of the real estate investment trust’s stock worth $8,028,000 after purchasing an additional 61,087 shares during the period. Finally, State Street Corp lifted its stake in PennyMac Financial Services by 6.0% during the third quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock worth $103,911,000 after purchasing an additional 51,777 shares during the period. Institutional investors own 57.87% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on PFSI shares. Piper Sandler increased their target price on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. 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 research report on Thursday, October 24th. Wedbush reaffirmed an “outperform” rating and issued a $130.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. Finally, Barclays raised their price target 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.