50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

PennyMac CFO Perotti sells $1.67 million in stock

Published 12/23/2024, 08:42 PM
PFSI
-

Daniel Stanley Perotti, the Chief Financial Officer of PennyMac Financial (NYSE:PFSI) Services, Inc. (NYSE:PFSI), a $5.16 billion market cap company, recently executed several stock transactions, as disclosed in a recent SEC filing. On December 20, Perotti sold a total of 16,481 shares of common stock, with prices ranging from $101.56 to $101.99, resulting in total proceeds of approximately $1.67 million. According to InvestingPro data, PFSI stock has shown significant volatility, with analysts setting price targets up to $135. This sale follows the exercise of options to acquire 16,481 shares at a price of $17.52 each, totaling $288,747. Following these transactions, Perotti holds 37,501 shares directly and 225,497 shares indirectly through The Perotti Family Trust. The company has demonstrated strong performance with revenue growth of 83% in the last twelve months, though InvestingPro analysis indicates the stock is currently trading at a relatively high P/E ratio of 29.9x. For deeper insights into PFSI's valuation and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.

In other recent news, PennyMac Financial Services showcased a significant rise in net income and robust growth in its Production segment during the third quarter of 2024. The company reported a net income of $69 million and an annualized return on equity of 8%. Additionally, PennyMac's servicing portfolio expanded to service approximately 2.6 million customers.

Financial services company, Jefferies, maintained a positive stance on PennyMac, reiterating a Buy rating and predicting an increase in the company's broker channel market share to roughly 8% by 2026. The firm also adjusted its earnings per share estimates for 2025 and 2026, supporting their $130 price target.

Despite a 30% decline in market activity due to rising interest rates, PennyMac's Broker Direct channel increased its market share to 4%, and jumbo loan activity surged from $22 million to $1 billion quarter-over-quarter. These developments are among the recent happenings that underline PennyMac's growth trajectory and potential for future performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.