Franklin Resources Inc. Acquires Shares of 569,897 Perella Weinberg Partners (NASDAQ:PWP)

Franklin Resources Inc. purchased a new position in Perella Weinberg Partners (NASDAQ:PWP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 569,897 shares of the company's stock, valued at approximately $13,586,000. Franklin Resources Inc. owned about 0.65% of Perella Weinberg Partners at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in Perella Weinberg Partners by 197.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,005 shares of the company's stock valued at $8,381,000 after buying an additional 288,186 shares during the period. Verition Fund Management LLC purchased a new position in shares of Perella Weinberg Partners during the 3rd quarter worth $333,000. State Street Corp grew its position in shares of Perella Weinberg Partners by 4.5% during the 3rd quarter. State Street Corp now owns 1,379,418 shares of the company's stock valued at $26,637,000 after acquiring an additional 59,989 shares during the period. Wellington Management Group LLP increased its stake in shares of Perella Weinberg Partners by 200.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,157,605 shares of the company's stock worth $22,353,000 after purchasing an additional 771,736 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Perella Weinberg Partners in the 3rd quarter worth $214,000. Institutional investors own 41.07% of the company's stock.

Perella Weinberg Partners Trading Down 2.6 %

Perella Weinberg Partners stock traded down $0.42 during mid-day trading on Friday, hitting $15.45. The stock had a trading volume of 539,224 shares, compared to its average volume of 577,708. The firm's 50 day moving average is $20.53 and its 200 day moving average is $22.46. The firm has a market capitalization of $1.34 billion, a P/E ratio of -9.78 and a beta of 1.68. Perella Weinberg Partners has a one year low of $11.68 and a one year high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last released its quarterly earnings data on Friday, February 7th. The company reported $0.26 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.02). Perella Weinberg Partners had a negative return on equity of 72.27% and a negative net margin of 7.37%.

Perella Weinberg Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Tuesday, February 18th. Perella Weinberg Partners's dividend payout ratio (DPR) is currently -17.72%.

Analyst Ratings Changes

PWP has been the subject of a number of analyst reports. The Goldman Sachs Group reduced their price target on Perella Weinberg Partners from $20.00 to $18.00 and set a "sell" rating for the company in a research report on Wednesday, April 2nd. JMP Securities reduced their target price on shares of Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating for the company in a report on Tuesday. Finally, Keefe, Bruyette & Woods raised their target price on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the stock an "outperform" rating in a research note on Monday, February 10th.

Perella Weinberg Partners Profile

Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advisory services related to strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, and financing and capital solutions advice with resources focused on restructuring, liability management, and capital markets advisory, as well as underwriting and research services primarily for the energy and related industries.