Russell Investments Group Ltd. boosted its stake in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 29.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 661,464 shares of the company's stock after acquiring an additional 149,234 shares during the quarter. Russell Investments Group Ltd. owned about 0.75% of Perella Weinberg Partners worth $15,769,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in Perella Weinberg Partners in the fourth quarter valued at about $18,493,000. Wellington Management Group LLP raised its stake in shares of Perella Weinberg Partners by 200.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,157,605 shares of the company's stock worth $22,353,000 after buying an additional 771,736 shares in the last quarter. Channing Capital Management LLC acquired a new stake in shares of Perella Weinberg Partners in the 4th quarter valued at approximately $16,207,000. Franklin Resources Inc. acquired a new stake in shares of Perella Weinberg Partners in the 4th quarter valued at approximately $13,586,000. Finally, Cannell & Spears LLC purchased a new stake in shares of Perella Weinberg Partners in the fourth quarter valued at approximately $8,881,000. 41.07% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
PWP has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their price objective on Perella Weinberg Partners from $27.00 to $29.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. JMP Securities cut their price target 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, April 8th. Finally, The Goldman Sachs Group decreased their price objective on shares of Perella Weinberg Partners from $20.00 to $18.00 and set a "sell" rating on the stock in a report on Wednesday, April 2nd.
Check Out Our Latest Stock Analysis on Perella Weinberg Partners
Perella Weinberg Partners Stock Down 1.7 %
NASDAQ PWP traded down $0.27 during mid-day trading on Wednesday, hitting $15.76. The stock had a trading volume of 76,007 shares, compared to its average volume of 801,259. The company has a 50 day simple moving average of $20.13 and a 200 day simple moving average of $22.42. The company has a market cap of $1.37 billion, a price-to-earnings ratio of -10.01 and a beta of 1.68. Perella Weinberg Partners has a 52-week low of $11.68 and a 52-week high of $27.03.
Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last released its quarterly earnings results on Friday, February 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Tuesday, February 18th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.28 annualized dividend and a dividend yield of 1.78%. Perella Weinberg Partners's dividend payout ratio is currently -17.72%.
Perella Weinberg Partners Company Profile
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Free Report)
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.
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