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 dated Thursday, September 26th. The shares were sold at an average price of $112.93, for a total transaction of $1,185,765.00. Following the transaction, the chief financial officer now owns 235,997 shares of the company’s stock, valued at $26,651,141.21. The transaction was disclosed in a document filed with the SEC, which is available at this link.

PennyMac Financial Services Stock Performance

PennyMac Financial Services stock opened at $113.80 on Monday. The stock has a fifty day moving average price of $103.89 and a 200 day moving average price of $95.74. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.75. PennyMac Financial Services, Inc. has a 52 week low of $62.15 and a 52 week high of $119.13. The firm has a market capitalization of $5.83 billion, a P/E ratio of 39.51, a PEG ratio of 0.72 and a beta of 1.77.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.80). PennyMac Financial Services had a return on equity of 12.69% and a net margin of 13.13%. The company had revenue of $406.13 million for the quarter, compared to analysts’ expectations of $469.64 million. During the same period in the prior year, the business earned $1.11 EPS. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. Equities research analysts anticipate that PennyMac Financial Services, Inc. will post 10.61 earnings per share for the current year.

PennyMac Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Tuesday, August 13th were paid a dividend of $0.30 per share. This is an increase from PennyMac Financial Services’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Tuesday, August 13th. PennyMac Financial Services’s payout ratio is currently 41.67%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. StockNews.com cut shares of PennyMac Financial Services from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Wedbush boosted their price target on PennyMac Financial Services from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, July 24th. Piper Sandler upped their price objective on PennyMac Financial Services from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Keefe, Bruyette & Woods cut PennyMac Financial Services from an “outperform” rating to a “market perform” rating and set a $102.00 price objective for the company. in a research report on Monday, July 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $107.17.

Institutional Trading of PennyMac Financial Services

Several large investors have recently added to or reduced their stakes in PFSI. Creative Planning grew its holdings in PennyMac Financial Services by 59.9% during the 2nd quarter. Creative Planning now owns 4,977 shares of the real estate investment trust’s stock valued at $471,000 after purchasing an additional 1,865 shares in the last quarter. Algert Global LLC acquired a new stake in shares of PennyMac Financial Services during the 2nd quarter valued at approximately $408,000. The Manufacturers Life Insurance Company boosted its holdings in shares of PennyMac Financial Services by 6.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,449 shares of the real estate investment trust’s stock valued at $1,745,000 after buying an additional 1,166 shares during the period. Maverick Capital Ltd. boosted its stake in PennyMac Financial Services by 263.8% in the second quarter. Maverick Capital Ltd. now owns 12,904 shares of the real estate investment trust’s stock valued at $1,221,000 after acquiring an additional 9,357 shares during the period. Finally, Dark Forest Capital Management LP bought a new position in PennyMac Financial Services during the 2nd quarter worth $639,000. 57.87% of the stock is currently owned by institutional investors and hedge funds.

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.