Insider Selling: PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Sells $1,185,765.00 in Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 10,500 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $112.93, for a total value of $1,185,765.00. Following the transaction, the chief financial officer now directly owns 235,997 shares in the company, valued at approximately $26,651,141.21. The transaction was disclosed in a filing with the SEC, which is available at this link.

PennyMac Financial Services Trading Up 1.4 %

NYSE PFSI opened at $113.80 on Monday. PennyMac Financial Services, Inc. has a 52 week low of $62.15 and a 52 week high of $119.13. The firm has a 50 day moving average of $103.89 and a two-hundred day moving average of $95.74. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.75. The stock has a market capitalization of $5.83 billion, a PE ratio of 39.51, a price-to-earnings-growth ratio of 0.72 and a beta of 1.77.

PennyMac Financial Services (NYSE:PFSI) last issued its earnings results on Tuesday, July 23rd. The real estate investment trust reported $1.85 EPS 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 firm had revenue of $406.13 million for the quarter, compared to analyst estimates of $469.64 million. During the same quarter in the previous year, the firm posted $1.11 EPS. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, research analysts expect that PennyMac Financial Services, Inc. will post 10.61 EPS for the current fiscal year.

PennyMac Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Tuesday, August 13th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Tuesday, August 13th. This is a positive change from PennyMac Financial Services’s previous quarterly dividend of $0.20. PennyMac Financial Services’s dividend payout ratio (DPR) is 41.67%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On PennyMac Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its holdings in shares of PennyMac Financial Services by 1,529.6% in the 2nd quarter. Blue Trust Inc. now owns 440 shares of the real estate investment trust’s stock valued at $40,000 after purchasing an additional 413 shares during the last quarter. Hexagon Capital Partners LLC raised its position in PennyMac Financial Services by 29.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 477 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 109 shares during the last quarter. TFO Wealth Partners LLC boosted its stake in PennyMac Financial Services by 16,300.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,148 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 1,141 shares during the period. SG Americas Securities LLC purchased a new position in PennyMac Financial Services in the 1st quarter valued at $202,000. Finally, Virtu Financial LLC acquired a new position in PennyMac Financial Services in the 4th quarter valued at $253,000. 57.87% of the stock is owned by institutional investors and hedge funds.

PennyMac Financial Services Company Profile

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.