Daniel Stanley Perotti Sells 13,110 Shares of PennyMac Financial Services (NYSE:PFSI) Stock

Key Points

• Daniel Stanley Perotti, the CFO of PennyMac Financial Services, sold 13,110 shares at an average price of $130.71, resulting in a total transaction of $1.71 million, significantly reducing his position by 56.82%.
• PennyMac Financial Services reported $3.37 EPS in its latest quarterly earnings, exceeding analysts' expectations of $2.98, with revenue increasing 53.7% year-over-year to $632.9 million.
• The company announced a quarterly dividend of $0.30, set to be paid on November 26th, with a dividend yield of 0.9% and a payout ratio of 12.93%.

PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CFO Daniel Stanley Perotti sold 13,110 shares of the stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $130.71, for a total transaction of $1,713,608.10. Following the completion of the transaction, the chief financial officer directly owned 9,964 shares in the company, valued at $1,302,394.44. The trade was a 56.82% decrease in their position. The sale was disclosed in a legal filing 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 stock was sold at an average price of $116.63, for a total transaction 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 value of $632,970.00.

PennyMac Financial Services Price Performance

NYSE PFSI traded up $4.09 on Friday, reaching $132.64. 618,508 shares of the company's stock traded hands, compared to its average volume of 388,040. The stock has a market cap of $6.86 billion, a PE ratio of 14.29 and a beta of 1.59. PennyMac Financial Services, Inc. has a 12 month low of $85.74 and a 12 month high of $134.56. The stock has a 50-day simple moving average of $118.00 and a 200 day simple moving average of $104.58. The company has a debt-to-equity ratio of 3.03, a current ratio of 0.34 and a quick ratio of 0.34.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 21st. The real estate investment trust reported $3.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.98 by $0.39. PennyMac Financial Services had a net margin of 25.21% and a return on equity of 11.90%. The company had revenue of $632.90 million during the quarter, compared to analysts' expectations of $573.46 million. During the same quarter in the prior year, the company earned $1.30 EPS. The firm's revenue was up 53.7% on a year-over-year basis. As a group, research analysts predict that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th will be issued a $0.30 dividend. The ex-dividend date is Monday, November 17th. This represents a $1.20 annualized dividend and a dividend yield of 0.9%. PennyMac Financial Services's payout ratio is currently 12.93%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PFSI shares. Weiss Ratings restated a "hold (c)" rating on shares of PennyMac Financial Services in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods raised their price target on shares of PennyMac Financial Services from $129.00 to $138.00 and gave the stock a "market perform" rating in a report on Friday. Zacks Research upgraded PennyMac Financial Services from a "strong sell" rating to a "hold" rating in a report on Monday, October 6th. UBS Group increased their price objective on PennyMac Financial Services from $135.00 to $145.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Barclays boosted their target price on PennyMac Financial Services from $136.00 to $139.00 and gave the company an "overweight" rating in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, PennyMac Financial Services currently has a consensus rating of "Moderate Buy" and a consensus target price of $138.67.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC purchased a new position in PennyMac Financial Services during the 2nd quarter valued at about $26,000. CWM LLC lifted its holdings in shares of PennyMac Financial Services by 71.5% during the first 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 last quarter. Strs Ohio bought a new stake in shares of PennyMac Financial Services in the 1st quarter worth approximately $30,000. Bayforest Capital Ltd bought a new position in PennyMac Financial Services during the 2nd quarter valued at approximately $62,000. Finally, Harbor Capital Advisors Inc. increased its position in PennyMac Financial Services by 26.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 504 shares of the real estate investment trust's stock valued at $62,000 after buying an additional 105 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors.

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.

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