Wells Fargo & Company MN Raises Position in Perella Weinberg Partners (NASDAQ:PWP)

Wells Fargo & Company MN boosted its stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 49.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,723 shares of the company's stock after acquiring an additional 20,868 shares during the period. Wells Fargo & Company MN owned about 0.07% of Perella Weinberg Partners worth $1,495,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. ExodusPoint Capital Management LP lifted its position in Perella Weinberg Partners by 334.4% during the 4th quarter. ExodusPoint Capital Management LP now owns 477,870 shares of the company's stock worth $11,392,000 after acquiring an additional 367,869 shares during the period. Trexquant Investment LP grew its position in shares of Perella Weinberg Partners by 661.5% in the fourth quarter. Trexquant Investment LP now owns 143,350 shares of the company's stock valued at $3,417,000 after purchasing an additional 124,526 shares during the period. Geode Capital Management LLC grew its position in shares of Perella Weinberg Partners by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,281,969 shares of the company's stock valued at $30,569,000 after purchasing an additional 24,349 shares during the period. Franklin Resources Inc. purchased a new stake in Perella Weinberg Partners during the fourth quarter valued at about $13,586,000. Finally, Cannell & Spears LLC purchased a new stake in Perella Weinberg Partners during the fourth quarter valued at about $8,881,000. 41.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PWP. The Goldman Sachs Group dropped 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 research note on Wednesday, April 2nd. JMP Securities decreased their price objective 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, Keefe, Bruyette & Woods boosted their price target on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the company an "outperform" rating in a report on Monday, February 10th.

Perella Weinberg Partners Trading Up 0.4 %

Shares of Perella Weinberg Partners stock opened at $16.89 on Monday. The company's 50-day moving average price is $18.92 and its two-hundred day moving average price is $22.23. The stock has a market cap of $1.47 billion, a PE ratio of -10.69 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 posted its quarterly earnings data on Friday, February 7th. The company reported $0.26 EPS 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 announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend was Tuesday, February 18th. Perella Weinberg Partners's dividend payout ratio (DPR) is currently -17.72%.

Perella Weinberg Partners Company 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.

Want to see what other hedge funds are holding PWP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Perella Weinberg Partners (NASDAQ:PWP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.