Key Points
- PennyMac Financial Services CFO Daniel Stanley Perotti sold 2,925 shares on May 15 at an average price of $87.50, totaling about $255,938. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Perotti still owned 210,625 shares valued at roughly $18.43 million, and the sale represented a 1.37% decrease in his holdings.
- The company recently reported Q1 earnings of $2.19 per share, narrowly missing estimates, while revenue rose 26.5% year over year. PennyMac also announced a quarterly dividend of $0.30 per share payable on May 28.
PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CFO Daniel Stanley Perotti sold 2,925 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $87.50, for a total transaction of $255,937.50. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 shares were sold at an average price of $93.30, for a total transaction of $272,902.50.
PennyMac Financial Services Price Performance
PFSI stock opened at $86.43 on Tuesday. The company has a debt-to-equity ratio of 3.63, a quick ratio of 0.33 and a current ratio of 0.33. PennyMac Financial Services, Inc. has a 52 week low of $82.65 and a 52 week high of $160.36. The firm's fifty day moving average is $88.69 and its 200 day moving average is $111.28. The firm has a market cap of $4.49 billion, a P/E ratio of 9.18, a P/E/G ratio of 0.56 and a beta of 1.49.
PennyMac Financial Services (NYSE:PFSI - Get Free Report) last released its earnings results 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). PennyMac Financial Services had a net margin of 23.47% and a return on equity of 10.93%. The business had revenue of $544.98 million for the quarter, compared to the consensus estimate of $546.17 million. During the same period in the prior year, the business posted $1.42 EPS. PennyMac Financial Services's revenue for the quarter was up 26.5% on a year-over-year basis. Research analysts predict that PennyMac Financial Services, Inc. will post 10.68 earnings per share for the current year.
PennyMac Financial Services Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 28th. Investors of record on Monday, May 18th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $1.20 annualized dividend and a dividend yield of 1.4%. PennyMac Financial Services's dividend payout ratio (DPR) is currently 12.75%.
Institutional Investors Weigh In On PennyMac Financial Services
Several institutional investors and hedge funds have recently modified their holdings of PFSI. AQR Capital Management LLC lifted its position 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 worth $2,404,000 after purchasing an additional 875 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 worth $1,594,000 after purchasing an additional 706 shares during the period. Intech Investment Management LLC lifted its position 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 worth $1,540,000 after purchasing an additional 840 shares during the period. Strs Ohio purchased a new stake in shares of PennyMac Financial Services in the 1st quarter worth about $30,000. Finally, Prudential Financial Inc. lifted its position 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 worth $413,000 after purchasing an additional 1,850 shares during the period. 57.87% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities analysts recently commented on PFSI shares. Wells Fargo & Company reduced their target price on shares of PennyMac Financial Services from $110.00 to $100.00 and set an "overweight" rating on the stock in a report on Wednesday, May 6th. Barclays dropped their price target on shares of PennyMac Financial Services from $116.00 to $107.00 and set an "overweight" rating for the company in a research report on Monday, May 11th. Piper Sandler dropped their price target on shares of PennyMac Financial Services from $122.00 to $112.00 and set an "overweight" rating for the company in a research report on Wednesday, May 6th. Weiss Ratings cut shares of PennyMac Financial Services from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, May 6th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of PennyMac Financial Services from $115.00 to $108.00 and set an "outperform" rating for the company in a research report on Friday, May 8th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $122.75.
View Our Latest Report on PFSI
About PennyMac Financial Services
(
Get Free Report)
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.
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