PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) CFO Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $100.02, for a total transaction of $1,050,210.00. Following the sale, the chief financial officer now owns 225,497 shares in the company, valued at approximately $22,554,209.94. The trade was a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Daniel Stanley Perotti also recently made the following trade(s):
- On Thursday, September 26th, Daniel Stanley Perotti sold 10,500 shares of PennyMac Financial Services stock. The shares were sold at an average price of $112.93, for a total transaction of $1,185,765.00.
PennyMac Financial Services Stock Performance
Shares of NYSE:PFSI opened at $102.48 on Tuesday. The company has a current ratio of 0.38, a quick ratio of 0.38 and a debt-to-equity ratio of 2.75. PennyMac Financial Services, Inc. has a 12 month low of $75.25 and a 12 month high of $119.13. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 32.53 and a beta of 1.79. The firm's 50-day moving average is $107.25 and its 200 day moving average is $99.94.
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PennyMac Financial Services (NYSE:PFSI - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The real estate investment trust reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.92 by ($1.62). PennyMac Financial Services had a net margin of 11.45% and a return on equity of 15.13%. The business had revenue of $411.83 million for the quarter, compared to analysts' expectations of $513.12 million. During the same quarter last year, the firm earned $1.77 EPS. The firm's quarterly revenue was up 2.9% on a year-over-year basis. Research analysts predict that PennyMac Financial Services, Inc. will post 11.88 EPS for the current year.
PennyMac Financial Services Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 18th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.20 dividend on an annualized basis and a yield of 1.17%. PennyMac Financial Services's payout ratio is 38.10%.
Institutional Trading of PennyMac Financial Services
Several institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC bought a new position in shares of PennyMac Financial Services in the first quarter worth about $202,000. Russell Investments Group Ltd. boosted its position in PennyMac Financial Services by 91.3% in the 1st quarter. Russell Investments Group Ltd. now owns 19,246 shares of the real estate investment trust's stock valued at $1,753,000 after buying an additional 9,183 shares during the period. ProShare Advisors LLC grew its stake in PennyMac Financial Services by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 4,587 shares of the real estate investment trust's stock worth $418,000 after acquiring an additional 361 shares in the last quarter. Vanguard Group Inc. increased its position in shares of PennyMac Financial Services by 0.3% during the first quarter. Vanguard Group Inc. now owns 2,618,386 shares of the real estate investment trust's stock worth $238,509,000 after acquiring an additional 8,345 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of PennyMac Financial Services during the first quarter valued at approximately $315,000. 57.87% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
PFSI has been the subject of a number of research analyst reports. Barclays raised their price objective on PennyMac Financial Services from $112.00 to $125.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Wells Fargo & Company raised their price target on PennyMac Financial Services from $110.00 to $125.00 and gave the company an "overweight" rating in a report on Thursday, October 24th. Piper Sandler increased their target price on PennyMac Financial Services from $125.00 to $132.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods cut shares of PennyMac Financial Services from an "outperform" rating to a "market perform" rating and set a $102.00 price target on the stock. in a research report on Monday, July 22nd. Finally, Wedbush reiterated an "outperform" rating and set a $130.00 price objective on shares of PennyMac Financial Services in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $115.86.
Check Out Our Latest Stock Analysis on PennyMac Financial Services
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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