Raymond James Financial Inc. acquired a new stake in Perella Weinberg Partners (NASDAQ:PWP - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 775,710 shares of the company's stock, valued at approximately $18,493,000. Raymond James Financial Inc. owned about 0.88% of Perella Weinberg Partners at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PWP. FMR LLC grew its holdings in shares of Perella Weinberg Partners by 3.8% during the fourth quarter. FMR LLC now owns 8,181,941 shares of the company's stock worth $195,057,000 after buying an additional 301,587 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Perella Weinberg Partners by 43.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,540 shares of the company's stock valued at $37,000 after purchasing an additional 470 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Perella Weinberg Partners by 29.1% in the 4th quarter. Russell Investments Group Ltd. now owns 661,464 shares of the company's stock valued at $15,769,000 after purchasing an additional 149,234 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Perella Weinberg Partners by 30.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 24,958 shares of the company's stock valued at $595,000 after purchasing an additional 5,761 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Perella Weinberg Partners by 49.9% during the fourth quarter. Wells Fargo & Company MN now owns 62,723 shares of the company's stock worth $1,495,000 after purchasing an additional 20,868 shares during the last quarter. Hedge funds and other institutional investors own 41.07% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the company an "outperform" rating in a research note on Monday, February 10th. JMP Securities dropped their price target on shares of Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating on the stock in a research note on Tuesday, April 8th. Finally, The Goldman Sachs Group reduced their price objective on shares of 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.
View Our Latest Research Report on Perella Weinberg Partners
Perella Weinberg Partners Stock Performance
Perella Weinberg Partners stock traded down $0.03 during midday trading on Friday, reaching $16.81. The company's stock had a trading volume of 90,711 shares, compared to its average volume of 590,667. The firm has a market capitalization of $1.46 billion, a PE ratio of -10.64 and a beta of 1.68. Perella Weinberg Partners has a fifty-two week low of $11.68 and a fifty-two week high of $27.03. The stock's 50 day simple moving average is $19.06 and its 200 day simple moving average is $22.22.
Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last released 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 Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Tuesday, February 18th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Tuesday, February 18th. Perella Weinberg Partners's dividend payout ratio is currently -17.72%.
About Perella Weinberg Partners
(
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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