Raymond James Financial Inc. Raises Stock Holdings in Perella Weinberg Partners $PWP

Key Points

• Raymond James Financial Inc. increased its stake in Perella Weinberg Partners (NASDAQ:PWP) by 13.4% during the first quarter, bringing its total ownership to approximately 1.01% valued at $16.2 million.
• Perella Weinberg Partners recently reported earnings that missed estimates, with a net revenue of $155.27 million for the quarter, falling short of the expected $188.06 million.
• The company declared a quarterly dividend of $0.07 per share, resulting in a yield of 1.3% and a payout ratio of 34.15%, with the dividend set to be paid on September 10th.

Raymond James Financial Inc. lifted its stake in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 13.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 879,745 shares of the company's stock after acquiring an additional 104,035 shares during the period. Raymond James Financial Inc. owned 1.01% of Perella Weinberg Partners worth $16,187,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PWP. BNP Paribas Financial Markets purchased a new stake in Perella Weinberg Partners in the 4th quarter valued at about $413,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Perella Weinberg Partners by 21.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 91,898 shares of the company's stock valued at $2,191,000 after buying an additional 16,057 shares during the period. Deutsche Bank AG raised its holdings in Perella Weinberg Partners by 53.6% in the 4th quarter. Deutsche Bank AG now owns 45,179 shares of the company's stock valued at $1,077,000 after buying an additional 15,763 shares during the period. Millennium Management LLC raised its holdings in Perella Weinberg Partners by 49.6% in the 4th quarter. Millennium Management LLC now owns 180,031 shares of the company's stock valued at $4,292,000 after buying an additional 59,672 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in Perella Weinberg Partners in the 4th quarter valued at about $468,000. Hedge funds and other institutional investors own 41.07% of the company's stock.

Perella Weinberg Partners Price Performance

Shares of Perella Weinberg Partners stock traded down $0.55 on Wednesday, reaching $21.27. 1,804,114 shares of the company were exchanged, compared to its average volume of 1,098,437. Perella Weinberg Partners has a 1-year low of $14.12 and a 1-year high of $27.03. The company has a market cap of $1.86 billion, a P/E ratio of 25.94 and a beta of 1.67. The stock's 50 day moving average price is $21.03 and its 200-day moving average price is $19.45.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its quarterly 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 during the quarter, compared to analyst estimates of $188.06 million. Perella Weinberg Partners had a net margin of 6.57% and a negative return on equity of 26.14%.

Perella Weinberg Partners Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at Perella Weinberg Partners

In related news, President Dietrich Becker sold 177,553 shares of the company'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 represents a 32.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 31.82% of the stock is owned by company insiders.

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.