PennyMac Financial Services (NYSE:PFSI) CFO Daniel Stanley Perotti Sells 8,775 Shares

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

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 stock was sold at an average price of $131.36, for a total transaction of $3,416,804.96.
• On Wednesday, October 22nd, Daniel Stanley Perotti sold 13,110 shares of PennyMac Financial Services stock. The shares were sold at an average price of $130.71, for a total transaction 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 transaction 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 Stock Performance

PFSI traded up $0.50 on Tuesday, hitting $124.97. 242,911 shares of the company traded hands, compared to its average volume of 378,546. PennyMac Financial Services, Inc. has a 12-month low of $85.74 and a 12-month high of $134.56. The company has a 50 day moving average of $123.92 and a 200-day moving average of $108.67. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.01. The stock has a market capitalization of $6.49 billion, a PE ratio of 13.47 and a beta of 1.56.

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 return on equity of 11.69% and a net margin of 25.21%.The business had revenue of $632.90 million for the quarter, compared to analyst estimates of $573.46 million. During the same quarter in the previous year, the company posted $1.30 earnings per share. The company’s revenue for the quarter was up 53.7% compared to the same quarter last year. Sell-side analysts anticipate that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Announces Dividend

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

Institutional Investors Weigh In On PennyMac Financial Services

A number of institutional investors and hedge funds have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co raised its holdings in PennyMac Financial Services by 1.0% during the third quarter. CANADA LIFE ASSURANCE Co now owns 16,236 shares of the real estate investment trust’s stock worth $2,026,000 after purchasing an additional 163 shares during the last quarter. Dark Forest Capital Management LP grew its holdings in PennyMac Financial Services by 50.6% in the third quarter. Dark Forest Capital Management LP now owns 25,521 shares of the real estate investment trust’s stock valued at $3,162,000 after purchasing an additional 8,580 shares during the last quarter. Qube Research & Technologies Ltd increased its position in shares of PennyMac Financial Services by 59.9% in the third quarter. Qube Research & Technologies Ltd now owns 59,969 shares of the real estate investment trust’s stock valued at $7,429,000 after buying an additional 22,461 shares in the last quarter. Kinetic Partners Management LP raised its stake in shares of PennyMac Financial Services by 1.4% during the 3rd quarter. Kinetic Partners Management LP now owns 88,000 shares of the real estate investment trust’s stock worth $10,901,000 after buying an additional 1,200 shares during the last quarter. Finally, Jain Global LLC acquired a new position in shares of PennyMac Financial Services during the 3rd quarter worth $436,000. Institutional investors and hedge funds own 57.87% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on PFSI. Zacks Research upgraded shares of PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Piper Sandler raised their price objective on shares of PennyMac Financial Services from $136.00 to $140.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company lifted their price objective on PennyMac Financial Services from $115.00 to $135.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. UBS Group increased their target price on PennyMac Financial Services from $135.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Finally, BTIG Research reissued a “buy” rating and issued a $135.00 price target on shares of PennyMac Financial Services in a report on Wednesday, October 22nd. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average 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.