Deutsche Bank AG Grows Stake in Perella Weinberg Partners $PWP

Key Points

• Deutsche Bank AG increased its stake in Perella Weinberg Partners by 235.5% during the first quarter, acquiring an additional 106,416 shares to hold 151,595 shares valued at approximately $2.79 million.
• Other institutional investors, such as the New York State Common Retirement Fund, also significantly increased their holdings, growing their investment by 402.6%, now owning 849,590 shares valued at about $15.63 million.
• Perella Weinberg Partners reported a net loss in the last quarter, missing earnings estimates with $0.09 EPS against a consensus of $0.16, leading to a current consensus rating of "Hold" with a price target of $23.67.

Deutsche Bank AG raised its holdings in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 235.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 151,595 shares of the company's stock after purchasing an additional 106,416 shares during the quarter. Deutsche Bank AG owned 0.17% of Perella Weinberg Partners worth $2,789,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PWP. New York State Common Retirement Fund raised its holdings in shares of Perella Weinberg Partners by 402.6% in the 1st quarter. New York State Common Retirement Fund now owns 849,590 shares of the company's stock valued at $15,632,000 after buying an additional 680,563 shares during the period. Emerald Advisers LLC acquired a new position in shares of Perella Weinberg Partners during the 1st quarter worth about $7,420,000. Algert Global LLC boosted its position in shares of Perella Weinberg Partners by 137.4% in the 4th quarter. Algert Global LLC now owns 376,564 shares of the company's stock valued at $8,977,000 after purchasing an additional 217,918 shares during the period. Bank of America Corp DE boosted its position in shares of Perella Weinberg Partners by 46.1% in the 4th quarter. Bank of America Corp DE now owns 672,481 shares of the company's stock valued at $16,032,000 after purchasing an additional 212,296 shares during the period. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Perella Weinberg Partners in the 1st quarter valued at about $3,798,000. Hedge funds and other institutional investors own 41.07% of the company's stock.

Insiders Place Their Bets

In related news, President Dietrich Becker sold 177,553 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $22.20, for a total value of $3,941,676.60. Following the completion of the transaction, the president directly owned 368,469 shares of the company's stock, valued at $8,180,011.80. This trade represents a 32.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 31.82% of the stock is owned by insiders.

Analysts Set New Price Targets

PWP has been the subject of several analyst reports. Keefe, Bruyette & Woods upped their price objective on Perella Weinberg Partners from $23.00 to $24.00 and gave the company a "market perform" rating in a research note on Monday, August 4th. The Goldman Sachs Group upped their price objective on Perella Weinberg Partners from $16.00 to $18.00 and gave the company a "sell" rating in a research note on Thursday, May 15th. Finally, Wall Street Zen downgraded Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $23.67.

Perella Weinberg Partners Price Performance

Shares of PWP stock traded up $1.31 during trading hours on Friday, reaching $22.40. 1,317,439 shares of the company's stock were exchanged, compared to its average volume of 1,233,791. The company has a market cap of $1.96 billion, a P/E ratio of 27.32 and a beta of 1.66. The company's 50 day moving average is $20.44 and its two-hundred day moving average is $19.53. Perella Weinberg Partners has a 1 year low of $14.12 and a 1 year high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.07). The business had revenue of $155.27 million for the quarter, compared to analysts' expectations of $188.06 million. Perella Weinberg Partners had a negative return on equity of 26.14% and a net margin of 6.57%.

Perella Weinberg Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 29th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. Perella Weinberg Partners's dividend payout ratio (DPR) is presently 34.15%.

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.