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WESTLAKE VILLAGE, Calif.—PennyMac Financial Services, Inc. (NYSE:PFSI), a $5.26 billion market cap financial services company, saw its Chief Financial Officer Daniel Stanley Perotti recently sell a significant portion of company stock, according to a filing with the Securities and Exchange Commission. On February 14, Perotti sold 10,500 shares of common stock at a weighted average price of $101.49 per share, totaling approximately $1.07 million. This transaction was executed under a prearranged Rule 10b5-1 trading plan. According to InvestingPro data, PFSI currently trades at a P/E ratio of 16.71, with analysts setting price targets between $111 and $141.
In addition to the stock sale, Perotti acquired 4,913 shares of common stock at no cost, as part of a grant of restricted stock units that will vest in three equal installments starting one year from the grant date. Furthermore, Perotti was granted nonstatutory stock options to purchase 12,529 shares of common stock, which will vest over three years beginning February 14, 2026.
Following these transactions, Perotti holds 214,997 shares indirectly through The Perotti Family Trust and 42,414 shares directly.
In other recent news, PennyMac Financial Services has reported its fourth-quarter 2024 earnings, revealing a diluted earnings per share (EPS) of $1.95, which fell short of the forecasted $3.03. The company’s revenue also missed expectations, coming in at $470.11 million against the anticipated $531.7 million. PennyMac has also announced a successful issuance of $850 million in senior notes due 2033, with a 6.875% interest rate, aimed at managing its debt portfolio and supporting general corporate activities. Furthermore, the company disclosed plans for an additional offering of $650 million in senior notes, also due 2033, targeting qualified institutional buyers. These financial maneuvers are part of PennyMac’s strategic efforts to manage its debt obligations and strengthen its corporate finances. Despite the earnings and revenue misses, the firm demonstrated robust growth in its loan origination and servicing segments. Analysts from firms like Wells Fargo (NYSE:WFC) have noted adjustments in PennyMac’s 2025 guidance, reflecting a cautious outlook in a stable rate environment. These developments underscore PennyMac’s ongoing strategic initiatives to navigate the current financial landscape.
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