Daniel Stanley Perotti Sells 16,481 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 16,481 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $101.56, for a total transaction of $1,673,810.36. Following the completion of the transaction, the chief financial officer now owns 37,501 shares in the company, valued at approximately $3,808,601.56. This trade represents a 30.53 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Friday, November 15th, Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock. The stock was sold at an average price of $100.02, for a total value of $1,050,210.00.
• On Thursday, September 26th, Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock. The shares were sold at an average price of $112.93, for a total value of $1,185,765.00.

PennyMac Financial Services Stock Up 1.2 %

PFSI stock opened at $102.18 on Wednesday. The company has a 50 day moving average of $104.02 and a two-hundred day moving average of $102.32. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 32.44 and a beta of 1.78. PennyMac Financial Services, Inc. has a 12-month low of $81.93 and a 12-month high of $119.13. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) 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 firm had revenue of $411.83 million for the quarter, compared to analysts’ expectations of $513.12 million. During the same quarter in the prior year, the business posted $1.77 earnings per share. PennyMac Financial Services’s revenue was up 2.9% on a year-over-year basis. On average, equities analysts anticipate that PennyMac Financial Services, Inc. will post 11.88 earnings per share for the current fiscal year.

PennyMac Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Monday, November 18th were issued a dividend of $0.30 per share. The ex-dividend date was Monday, November 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.17%. PennyMac Financial Services’s dividend payout ratio is 38.10%.

Institutional Investors Weigh In On PennyMac Financial Services

Large investors have recently made changes to their positions in the company. FMR LLC grew its position in PennyMac Financial Services by 231.9% in the third quarter. FMR LLC now owns 1,166,998 shares of the real estate investment trust’s stock worth $133,003,000 after acquiring an additional 815,389 shares in the last quarter. State Street Corp lifted its stake in shares of PennyMac Financial Services by 6.0% in the 3rd quarter. State Street Corp now owns 911,741 shares of the real estate investment trust’s stock valued at $103,911,000 after purchasing an additional 51,777 shares during the last quarter. Geode Capital Management LLC boosted its holdings in PennyMac Financial Services by 3.1% in the third quarter. Geode Capital Management LLC now owns 647,764 shares of the real estate investment trust’s stock worth $73,841,000 after purchasing an additional 19,662 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in PennyMac Financial Services by 7.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 447,351 shares of the real estate investment trust’s stock worth $50,985,000 after buying an additional 31,035 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in 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 valued at $32,919,000 after buying an additional 40,676 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

Wall Street Analysts Forecast Growth

PFSI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods cut their price objective on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a report on Tuesday, December 10th. Wells Fargo & Company boosted their price target on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Piper Sandler raised their price objective on shares of PennyMac Financial Services from $125.00 to $132.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Barclays increased their target price on PennyMac Financial Services from $112.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Wedbush reiterated an “outperform” rating and set a $130.00 price target on shares of PennyMac Financial Services in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $122.50.

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.