Insider Selling: PennyMac Financial Services (NYSE:PFSI) CFO Sells $1,713,608.10 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 13,110 shares of PennyMac Financial Services stock in a transaction on Wednesday, October 22nd. The shares were sold at an average price of $130.71, for a total value of $1,713,608.10. Following the completion of the sale, the chief financial officer directly owned 9,964 shares of the company’s stock, valued at approximately $1,302,394.44. This represents a 56.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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 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 NYSE:PFSI opened at $132.64 on Monday. The company has a market cap of $6.86 billion, a P/E ratio of 14.29 and a beta of 1.59. The company has a quick ratio of 0.34, a current ratio of 0.34 and a debt-to-equity ratio of 3.03. PennyMac Financial Services, Inc. has a 52 week low of $85.74 and a 52 week high of $134.56. The business has a fifty day simple moving average of $118.52 and a 200-day simple moving average of $105.02.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $2.98 by $0.39. The business had revenue of $632.90 million during the quarter, compared to the consensus estimate 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 for the quarter was up 53.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 earnings per share. Equities research analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.

PennyMac Financial Services Dividend Announcement

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PFSI. Lightrock Netherlands B.V. lifted its stake in shares of 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 worth $13,643,000 after purchasing an additional 48,312 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of PennyMac Financial Services by 45.9% in the first quarter. Bank of New York Mellon Corp now owns 290,235 shares of the real estate investment trust’s stock worth $29,055,000 after acquiring an additional 91,338 shares in the last quarter. Xponance Inc. acquired a new position in shares of PennyMac Financial Services in the first quarter worth about $202,000. New York State Common Retirement Fund lifted its stake in shares of PennyMac Financial Services by 1.2% in the first quarter. New York State Common Retirement Fund now owns 71,944 shares of the real estate investment trust’s stock worth $7,202,000 after acquiring an additional 879 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of PennyMac Financial Services by 71.5% in the first quarter. CWM LLC now owns 271 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 113 shares in the last quarter. Institutional investors and hedge funds own 57.87% of the company’s stock.

Analysts Set New Price Targets

PFSI has been the subject of a number of research reports. Keefe, Bruyette & Woods boosted their price target on PennyMac Financial Services from $129.00 to $138.00 and gave the company a “market perform” rating in a research report on Friday. Wells Fargo & Company boosted their price target on PennyMac Financial Services from $115.00 to $135.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Zacks Research raised PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a research report on Monday, October 6th. BTIG Research reissued a “buy” rating and set a $135.00 price target on shares of PennyMac Financial Services in a research report on Wednesday, October 22nd. Finally, Wall Street Zen raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a research report on Monday, September 29th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, PennyMac Financial Services has an average rating of “Moderate Buy” and an average target price 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.