Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Sells 10,500 Shares of Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 10,500 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $101.49, for a total value of $1,065,645.00. Following the transaction, the chief financial officer now owns 214,997 shares in the company, valued at approximately $21,820,045.53. This trade represents a 4.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, December 20th, Daniel Stanley Perotti sold 16,481 shares of PennyMac Financial Services stock. The stock was sold at an average price of $101.56, for a total value of $1,673,810.36.

PennyMac Financial Services Trading Up 0.4 %

Shares of PFSI traded up $0.38 during trading hours on Wednesday, reaching $102.19. 199,283 shares of the company traded hands, compared to its average volume of 344,962. The company’s fifty day moving average price is $103.80 and its two-hundred day moving average price is $104.76. The company has a quick ratio of 0.38, a current ratio of 0.38 and a debt-to-equity ratio of 2.75. The company has a market capitalization of $5.24 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 0.19 and a beta of 1.78. PennyMac Financial Services, Inc. has a 12 month low of $83.03 and a 12 month high of $119.13.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.09 by ($0.21). PennyMac Financial Services had a return on equity of 16.80% and a net margin of 19.54%. Equities research analysts predict that PennyMac Financial Services, Inc. will post 13.98 earnings per share for the current fiscal year.

PennyMac Financial Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, February 23rd. Investors of record on Thursday, February 13th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.17%. The ex-dividend date is Thursday, February 13th. PennyMac Financial Services’s payout ratio is currently 20.55%.

Analyst Ratings Changes

Several research analysts have recently issued reports on PFSI shares. Wedbush reaffirmed an “outperform” rating and issued a $130.00 price objective on shares of PennyMac Financial Services in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods lowered their target price on PennyMac Financial Services from $112.00 to $111.00 and set a “market perform” rating on the stock in a research report on Tuesday, December 10th. Wells Fargo & Company increased their price objective on shares of PennyMac Financial Services from $110.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Piper Sandler reduced their price target on shares of PennyMac Financial Services from $132.00 to $130.00 and set an “overweight” rating for the company in a research report on Friday, January 31st. One investment 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, PennyMac Financial Services has a consensus rating of “Moderate Buy” and an average price target of $122.17.

Hedge Funds Weigh In On PennyMac Financial Services

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of PennyMac Financial Services by 7.4% during the 4th quarter. Vanguard Group Inc. now owns 2,886,580 shares of the real estate investment trust’s stock valued at $294,835,000 after buying an additional 199,667 shares in the last quarter. FMR LLC increased its position in PennyMac Financial Services by 11.9% during the 4th quarter. FMR LLC now owns 1,305,851 shares of the real estate investment trust’s stock valued at $133,380,000 after purchasing an additional 138,853 shares during the period. Invesco Ltd. lifted its holdings in PennyMac Financial Services by 0.3% during the fourth quarter. Invesco Ltd. now owns 1,183,458 shares of the real estate investment trust’s stock worth $120,878,000 after buying an additional 3,527 shares during the period. JPMorgan Chase & Co. boosted its position in PennyMac Financial Services by 2.3% during the third quarter. JPMorgan Chase & Co. now owns 954,713 shares of the real estate investment trust’s stock valued at $108,809,000 after purchasing an additional 21,751 shares in the last quarter. Finally, State Street Corp grew its position 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 worth $103,911,000 after buying an additional 51,777 shares during the last quarter. Hedge funds and other institutional investors own 57.87% of the company’s stock.

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.