Daniel Stanley Perotti Sells 2,925 Shares of PennyMac Financial Services (NYSE:PFSI) Stock

PennyMac Financial Services, Inc. (NYSE:PFSI) CFO Daniel Stanley Perotti sold 2,925 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $93.30, for a total transaction of $272,902.50. Following the sale, the chief financial officer owned 213,550 shares of the company’s stock, valued at approximately $19,924,215. This trade represents a 1.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

PennyMac Financial Services Price Performance

PFSI stock opened at $94.19 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 3.01. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 0.54 and a beta of 1.54. The company’s fifty day simple moving average is $126.68 and its 200 day simple moving average is $122.67. PennyMac Financial Services, Inc. has a 12-month low of $85.74 and a 12-month high of $160.36.

PennyMac Financial Services (NYSE:PFSI) last posted its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported $1.97 earnings per share for the quarter, missing the consensus estimate of $3.23 by ($1.26). The business had revenue of $538.01 million during the quarter, compared to the consensus estimate of $639.81 million. PennyMac Financial Services had a return on equity of 10.36% and a net margin of 24.48%.The business’s revenue was up 14.4% on a year-over-year basis. During the same period last year, the business posted $1.95 earnings per share. On average, analysts expect that PennyMac Financial Services, Inc. will post 13.77 earnings per share for the current year.

PennyMac Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 26th. Shareholders of record on Monday, February 16th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.20 annualized dividend and a yield of 1.3%. PennyMac Financial Services’s payout ratio is 12.90%.

Analyst Ratings Changes

Several research firms have recently weighed in on PFSI. Wall Street Zen lowered shares of PennyMac Financial Services from a “buy” rating to a “hold” rating in a research note on Sunday, January 18th. Weiss Ratings cut shares of PennyMac Financial Services from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, January 20th. Keefe, Bruyette & Woods dropped their price objective on shares of PennyMac Financial Services from $143.00 to $115.00 and set a “market perform” rating on the stock in a report on Monday, February 2nd. Zacks Research cut shares of PennyMac Financial Services from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 3rd. Finally, Wells Fargo & Company reduced their target price on PennyMac Financial Services from $150.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, January 30th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $139.71.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Harbor Capital Advisors Inc. raised its holdings in shares of PennyMac Financial Services by 26.3% in 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 last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of PennyMac Financial Services by 0.7% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,034 shares of the real estate investment trust’s stock worth $1,598,000 after purchasing an additional 111 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of PennyMac Financial Services by 97.3% in the fourth quarter. GAMMA Investing LLC now owns 288 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 142 shares in the last quarter. Sei Investments Co. grew its holdings in PennyMac Financial Services by 0.7% during the third quarter. Sei Investments Co. now owns 22,145 shares of the real estate investment trust’s stock worth $2,743,000 after buying an additional 146 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its holdings in PennyMac Financial Services by 1.0% during the third quarter. CANADA LIFE ASSURANCE Co now owns 16,236 shares of the real estate investment trust’s stock worth $2,026,000 after buying an additional 163 shares in the last quarter. 57.87% of the stock is currently owned by institutional investors and hedge funds.

About PennyMac Financial Services

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.