Insider Selling: PennyMac Financial Services (NYSE:PFSI) CFO Sells $3,416,804.96 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 26,011 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $131.36, for a total value of $3,416,804.96. Following the sale, the chief financial officer owned 9,964 shares of the company’s stock, valued at approximately $1,308,871.04. This represents a 72.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Wednesday, October 22nd, Daniel Stanley Perotti sold 13,110 shares of PennyMac Financial Services stock. The stock was sold at an average price of $130.71, for a total value 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 value of $341,142.75.
• On Tuesday, September 2nd, Daniel Stanley Perotti sold 5,850 shares of PennyMac Financial Services stock. The stock was sold at an average price of $108.20, for a total transaction of $632,970.00.

PennyMac Financial Services Price Performance

Shares of NYSE:PFSI opened at $125.25 on Friday. PennyMac Financial Services, Inc. has a one year low of $85.74 and a one year high of $134.56. The company has a debt-to-equity ratio of 3.01, a current ratio of 0.36 and a quick ratio of 0.34. The company has a market cap of $6.48 billion, a price-to-earnings ratio of 13.50 and a beta of 1.59. The firm has a 50 day simple moving average of $120.37 and a 200 day simple moving average of $105.93.

PennyMac Financial Services (NYSE:PFSI) last announced its quarterly earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.98 by $0.39. PennyMac Financial Services had a net margin of 25.21% and a return on equity of 11.69%. The company had revenue of $632.90 million during the quarter, compared to the consensus estimate of $573.46 million. During the same period in the prior year, the business earned $1.30 earnings per share. The company’s revenue for the quarter was up 53.7% compared to the same quarter last year. Research analysts predict that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Zacks Research upgraded PennyMac Financial Services from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of PennyMac Financial Services in a research report on Wednesday, October 8th. Piper Sandler raised their price target on shares of PennyMac Financial Services from $136.00 to $140.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Barclays increased their price objective on PennyMac Financial Services from $136.00 to $139.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Finally, Wall Street Zen upgraded PennyMac Financial Services from a “sell” rating to a “hold” rating in a report on Monday, September 29th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.67.

Institutional Trading of PennyMac Financial Services

A number of institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. boosted its position in PennyMac Financial Services by 26.3% during the third quarter. Harbor Capital Advisors Inc. now owns 504 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 105 shares during the last quarter. AlphaQuest LLC lifted its stake in shares of PennyMac Financial Services by 4.4% in the 1st quarter. AlphaQuest LLC now owns 2,587 shares of the real estate investment trust’s stock valued at $259,000 after purchasing an additional 110 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of PennyMac Financial Services by 0.7% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,034 shares of the real estate investment trust’s stock valued at $1,598,000 after purchasing an additional 111 shares during the period. CWM LLC lifted its stake in shares of PennyMac Financial Services by 71.5% in the 1st quarter. CWM LLC now owns 271 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 113 shares during the period. Finally, Hohimer Wealth Management LLC increased its holdings in PennyMac Financial Services by 5.4% in the first quarter. Hohimer Wealth Management LLC now owns 2,351 shares of the real estate investment trust’s stock worth $235,000 after purchasing an additional 121 shares in the last quarter. Institutional investors own 57.87% of the company’s stock.

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.