Key Points
- CFO Daniel Stanley Perotti sold 8,775 shares on November 17 at an average price of $126.67 for proceeds of $1.11M, trimming his stake to 216,475 shares (a 3.90% reduction valued at about $27.42M).
- This sale is part of a recent pattern of insider selling by Perotti — he disposed of a total of about 56,671 shares across transactions in September and October and November, raising roughly $7.2M in proceeds over those trades.
- PennyMac recently beat earnings (Q: $3.37 EPS vs. $2.98 expected) with revenue up 53.7% to $632.9M, announced a $0.30 quarterly dividend (1.0% yield, ex-dividend Nov 17), and has a consensus analyst price target of about $138.67 with several broker upgrades.
PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CFO Daniel Stanley Perotti sold 8,775 shares of the company's stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $126.67, for a total value of $1,111,529.25. Following the completion of the sale, the chief financial officer owned 216,475 shares in the company, valued at $27,420,888.25. This represents a 3.90% decrease in their position. The transaction 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, October 24th, Daniel Stanley Perotti sold 26,011 shares of PennyMac Financial Services stock. The stock was sold at an average price of $131.36, for a total value of $3,416,804.96.
- 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 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 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 PFSI opened at $124.97 on Wednesday. The firm has a market capitalization of $6.49 billion, a PE ratio of 13.47 and a beta of 1.56. The company's 50-day moving average is $124.00 and its 200-day moving average is $108.86. PennyMac Financial Services, Inc. has a fifty-two week low of $85.74 and a fifty-two week 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 0.36.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its earnings results on Tuesday, October 21st. The real estate investment trust reported $3.37 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 business had revenue of $632.90 million during the quarter, compared to the consensus estimate of $573.46 million. During the same quarter in the previous year, the firm posted $1.30 EPS. PennyMac Financial Services's revenue was up 53.7% compared to the same quarter last year. Equities analysts forecast that PennyMac Financial Services, Inc. will post 13.77 EPS for the current year.
PennyMac Financial Services Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Monday, November 17th will be given a $0.30 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.20 annualized dividend and a dividend yield of 1.0%. PennyMac Financial Services's dividend payout ratio is presently 12.93%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on PFSI. Wells Fargo & Company increased their target price on PennyMac Financial Services from $115.00 to $135.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 22nd. BTIG Research reiterated a "buy" rating and set a $135.00 price objective on shares of PennyMac Financial Services in a research report on Wednesday, October 22nd. Piper Sandler boosted their target price on shares of PennyMac Financial Services from $136.00 to $140.00 and gave the company an "overweight" rating in a research report on Wednesday, October 22nd. Zacks Research upgraded shares of PennyMac Financial Services from a "strong sell" rating to a "hold" rating in a research note on Monday, October 6th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of PennyMac Financial Services in a research note on Friday, October 31st. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $138.67.
Read Our Latest Analysis on PFSI
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC bought a new stake in PennyMac Financial Services during the second quarter worth about $26,000. CWM LLC increased its holdings in 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 buying an additional 113 shares during the period. Strs Ohio acquired a new position in shares of PennyMac Financial Services in the 1st quarter valued at approximately $30,000. Harbor Capital Advisors Inc. lifted its holdings in shares of 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 worth $62,000 after acquiring an additional 105 shares during the period. Finally, Covestor Ltd boosted its position in shares of PennyMac Financial Services by 95.5% during the 3rd quarter. Covestor Ltd now owns 567 shares of the real estate investment trust's stock worth $70,000 after acquiring an additional 277 shares in the last quarter. Institutional investors own 57.87% of the company's stock.
PennyMac Financial Services Company Profile
(
Get Free Report)
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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