Insider Selling: PennyMac Financial Services (NYSE:PFSI) CFO Sells $255,937.50 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 2,925 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $87.50, for a total value of $255,937.50. Following the sale, the chief financial officer directly owned 210,625 shares in the company, valued at $18,429,687.50. The trade was a 1.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, February 17th, Daniel Stanley Perotti sold 2,925 shares of PennyMac Financial Services stock. The stock was sold at an average price of $93.30, for a total value of $272,902.50.

PennyMac Financial Services Stock Performance

Shares of PennyMac Financial Services stock opened at $87.01 on Thursday. The company has a market capitalization of $4.52 billion, a PE ratio of 9.25, a PEG ratio of 0.55 and a beta of 1.49. PennyMac Financial Services, Inc. has a 12 month low of $82.65 and a 12 month high of $160.36. The company has a current ratio of 0.33, a quick ratio of 0.33 and a debt-to-equity ratio of 3.63. The stock’s fifty day simple moving average is $88.66 and its 200 day simple moving average is $110.72.

PennyMac Financial Services (NYSE:PFSI) last issued its quarterly earnings data on Tuesday, May 5th. The real estate investment trust reported $2.19 EPS for the quarter, missing the consensus estimate of $2.22 by ($0.03). The business had revenue of $544.98 million for the quarter, compared to analyst estimates of $546.17 million. PennyMac Financial Services had a return on equity of 10.93% and a net margin of 23.47%.The business’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.42 EPS. On average, research analysts predict that PennyMac Financial Services, Inc. will post 10.68 EPS for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Monday, May 18th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, May 18th. PennyMac Financial Services’s dividend payout ratio (DPR) is presently 12.75%.

Analysts Set New Price Targets

Several research firms have issued reports on PFSI. Wells Fargo & Company dropped their price target on PennyMac Financial Services from $110.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Barclays dropped their price target on PennyMac Financial Services from $116.00 to $107.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Wall Street Zen raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Piper Sandler dropped their price target on PennyMac Financial Services from $122.00 to $112.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 6th. Finally, BTIG Research reissued a “buy” rating on shares of PennyMac Financial Services in a research note on Friday, January 30th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $122.75.

Hedge Funds Weigh In On PennyMac Financial Services

Several hedge funds have recently modified their holdings of PFSI. AQR Capital Management LLC grew its holdings in shares of PennyMac Financial Services by 3.8% in the 1st quarter. AQR Capital Management LLC now owns 24,012 shares of the real estate investment trust’s stock valued at $2,404,000 after acquiring an additional 875 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of PennyMac Financial Services by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,923 shares of the real estate investment trust’s stock valued at $1,594,000 after acquiring an additional 706 shares in the last quarter. Intech Investment Management LLC grew its holdings in shares of PennyMac Financial Services by 5.8% in the 1st quarter. Intech Investment Management LLC now owns 15,382 shares of the real estate investment trust’s stock valued at $1,540,000 after acquiring an additional 840 shares in the last quarter. Strs Ohio bought a new position in shares of PennyMac Financial Services in the 1st quarter valued at about $30,000. Finally, Prudential Financial Inc. grew its holdings in shares of PennyMac Financial Services by 82.8% in the 2nd quarter. Prudential Financial Inc. now owns 4,084 shares of the real estate investment trust’s stock valued at $413,000 after acquiring an additional 1,850 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

About PennyMac Financial Services

PennyMac Financial Services, Inc (NYSE: PFSI) is a leading mortgage banking company based in Westlake Village, California. The firm operates through two primary business segments: Production and Mortgage Servicing Rights (MSR). In its Production segment, PennyMac originates residential mortgage loans through retail, wholesale and correspondent channels, focusing on both purchase and refinance transactions. The MSR segment involves the acquisition and servicing of mortgage loans, whereby the company earns fees for managing loan portfolios on behalf of investors.

Since its founding in 2008, PennyMac has grown through a combination of organic origination and strategic acquisition of servicing rights, positioning itself as one of the largest residential mortgage loan servicers in the United States.