Bank of America Corp DE Purchases 212,296 Shares of Perella Weinberg Partners (NASDAQ:PWP)

Bank of America Corp DE increased its holdings in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 46.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 672,481 shares of the company's stock after buying an additional 212,296 shares during the period. Bank of America Corp DE owned 0.76% of Perella Weinberg Partners worth $16,032,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. FMR LLC boosted its holdings in shares of Perella Weinberg Partners by 3.8% in the fourth quarter. FMR LLC now owns 8,181,941 shares of the company's stock valued at $195,057,000 after buying an additional 301,587 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Perella Weinberg Partners by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 3,163,844 shares of the company's stock valued at $75,426,000 after buying an additional 260,319 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Perella Weinberg Partners by 13.7% in the fourth quarter. Wellington Management Group LLP now owns 1,316,562 shares of the company's stock valued at $31,387,000 after buying an additional 158,957 shares during the period. Geode Capital Management LLC boosted its holdings 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 buying an additional 24,349 shares during the period. Finally, William Blair Investment Management LLC boosted its holdings in shares of Perella Weinberg Partners by 2.5% in the fourth quarter. William Blair Investment Management LLC now owns 1,236,570 shares of the company's stock valued at $29,480,000 after buying an additional 30,441 shares during the period. 41.07% of the stock is owned by institutional investors.

Perella Weinberg Partners Stock Performance

NASDAQ:PWP traded down $0.11 during mid-day trading on Monday, reaching $17.53. 624,139 shares of the company's stock were exchanged, compared to its average volume of 638,433. Perella Weinberg Partners has a one year low of $13.82 and a one year high of $27.03. The firm has a market capitalization of $1.55 billion, a PE ratio of -11.09 and a beta of 1.69. The business's fifty day simple moving average is $17.54 and its two-hundred day simple moving average is $21.68.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its quarterly earnings data on Friday, May 2nd. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.21 by $0.07. The firm had revenue of $211.83 million for the quarter, compared to the consensus estimate of $200.29 million. Perella Weinberg Partners had a negative net margin of 7.37% and a negative return on equity of 72.27%. During the same period in the prior year, the company posted ($0.10) earnings per share.

Perella Weinberg Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Wednesday, May 14th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.60%. Perella Weinberg Partners's payout ratio is currently -65.12%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PWP. Keefe, Bruyette & Woods reduced their price target on shares of Perella Weinberg Partners from $24.00 to $22.00 and set an "outperform" rating for the company in a report on Monday, May 12th. The Goldman Sachs Group increased their target price on shares of Perella Weinberg Partners from $16.00 to $18.00 and gave the stock a "sell" rating in a report on Thursday, May 15th. Wall Street Zen cut shares of Perella Weinberg Partners from a "buy" rating to a "hold" rating in a report on Saturday. Finally, 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, April 8th.

About Perella Weinberg Partners

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.