Daniel Stanley Perotti Sells 11,400 Shares of PennyMac Financial Services, Inc. (NYSE:PFSI) Stock (2024)

Posted by Defense World Staff on May 18th, 2024

PennyMac Financial Services, Inc. (NYSE:PFSI – Get Free Report) CFO Daniel Stanley Perotti sold 11,400 shares of PennyMac Financial Services stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $92.00, for a total value of $1,048,800.00. Following the sale, the chief financial officer now directly owns 246,497 shares of the company’s stock, valued at approximately $22,677,724. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

PennyMac Financial Services Price Performance

NYSE PFSI opened at $93.37 on Friday. The company has a market cap of $4.75 billion, a P/E ratio of 32.42, a P/E/G ratio of 0.61 and a beta of 1.68. PennyMac Financial Services, Inc. has a 1 year low of $58.65 and a 1 year high of $94.78. The company has a current ratio of 0.39, a quick ratio of 0.39 and a debt-to-equity ratio of 2.33. The company has a fifty day simple moving average of $89.24 and a 200 day simple moving average of $85.66.

PennyMac Financial Services (NYSE:PFSI – Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The real estate investment trust reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.34 by $0.14. PennyMac Financial Services had a return on equity of 10.48% and a net margin of 10.94%. The company had revenue of $305.66 million for the quarter, compared to the consensus estimate of $422.87 million. On average, sell-side analysts predict that PennyMac Financial Services, Inc. will post 10.55 EPS for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Tuesday, May 14th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.86%. The ex-dividend date is Monday, May 13th. PennyMac Financial Services’s dividend payout ratio is currently 27.78%.

Institutional Investors Weigh In On PennyMac Financial Services

Several hedge funds have recently modified their holdings of the business. Jacobs Levy Equity Management Inc. increased its position in PennyMac Financial Services by 0.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 139,882 shares of the real estate investment trust’s stock worth $12,742,000 after acquiring an additional 1,190 shares during the period. 1832 Asset Management L.P. bought a new position in shares of PennyMac Financial Services during the 1st quarter worth about $1,785,000. CANADA LIFE ASSURANCE Co raised its position in shares of PennyMac Financial Services by 3.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 23,433 shares of the real estate investment trust’s stock valued at $2,134,000 after buying an additional 689 shares during the last quarter. Cynosure Group LLC bought a new stake in shares of PennyMac Financial Services in the first quarter valued at about $323,000. Finally, Edgestream Partners L.P. grew its position in PennyMac Financial Services by 349.5% during the first quarter. Edgestream Partners L.P. now owns 23,774 shares of the real estate investment trust’s stock worth $2,166,000 after buying an additional 18,485 shares in the last quarter. 57.87% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com raised PennyMac Financial Services from a “sell” rating to a “hold” rating in a research note on Monday, May 13th. Barclays raised their price objective on shares of PennyMac Financial Services from $103.00 to $112.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods decreased their target price on shares of PennyMac Financial Services from $105.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Wedbush restated an “outperform” rating and set a $110.00 price target on shares of PennyMac Financial Services in a report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of PennyMac Financial Services from $115.00 to $112.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $97.75.

Read Our Latest Analysis on PFSI

About PennyMac Financial Services

(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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