Wellington Management Group LLP Has $82.82 Million Stock Holdings in Perella Weinberg Partners $PWP

Key Points

• Wellington Management increased its Perella Weinberg Partners stake by 32.2% in the second quarter, owning 5.19 million shares valued at $82.82 million, or 5.52% of the company. Institutional investors collectively hold 41.07% of PWP.
• Analyst views remain mixed: Keefe, Bruyette & Woods maintained an “outperform” rating with a $21 target, while Goldman Sachs retained a “sell” rating. The stock has a consensus “hold” rating and a $22 average price target.
• PWP shares opened at $16.39, near their 50-day average, after the company reported quarterly EPS of $0.20 versus the $0.06 consensus and revenue of $156.53 million. The company declared a quarterly dividend of $0.07, representing a 1.7% yield.

Wellington Management Group LLP increased its stake in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 32.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,189,199 shares of the company's stock after buying an additional 1,263,345 shares during the period. Wellington Management Group LLP owned 5.52% of Perella Weinberg Partners worth $82,820,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of PWP. Adage Capital Partners GP L.L.C. lifted its position in Perella Weinberg Partners by 73.5% during the second quarter. Adage Capital Partners GP L.L.C. now owns 3,136,484 shares of the company's stock worth $60,911,000 after acquiring an additional 1,328,312 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Perella Weinberg Partners by 79.6% during the second quarter. Ameriprise Financial Inc. now owns 1,575,063 shares of the company's stock worth $30,588,000 after acquiring an additional 698,021 shares during the period. Nuveen LLC grew its position in shares of Perella Weinberg Partners by 29.2% in the fourth quarter. Nuveen LLC now owns 2,861,405 shares of the company's stock valued at $49,502,000 after purchasing an additional 646,143 shares during the last quarter. Boston Partners increased its stake in shares of Perella Weinberg Partners by 82.5% during the fourth quarter. Boston Partners now owns 1,378,939 shares of the company's stock worth $23,860,000 after purchasing an additional 623,330 shares during the period. Finally, Aristotle Capital Boston LLC bought a new position in shares of Perella Weinberg Partners during the fourth quarter worth approximately $8,433,000. Institutional investors and hedge funds own 41.07% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wall Street Zen upgraded Perella Weinberg Partners from a "hold" rating to a "buy" rating in a research note on Saturday, August 22nd. Weiss Ratings cut Perella Weinberg Partners from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, August 19th. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $21.00 target price (up from $19.00) on shares of Perella Weinberg Partners in a report on Monday, August 3rd. Finally, The Goldman Sachs Group boosted their target price on shares of Perella Weinberg Partners from $14.50 to $16.00 and gave the company a "sell" rating in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Perella Weinberg Partners has a consensus rating of "Hold" and an average price target of $22.00.

Perella Weinberg Partners Trading Down 0.1%

Shares of NASDAQ:PWP opened at $16.39 on Thursday. The firm has a 50 day moving average of $16.32 and a 200-day moving average of $17.61. Perella Weinberg Partners has a 12 month low of $14.11 and a 12 month high of $25.92. The stock has a market capitalization of $1.54 billion, a PE ratio of 63.04 and a beta of 1.62.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.14. The business had revenue of $156.53 million for the quarter, compared to analyst estimates of $144.76 million. Perella Weinberg Partners had a net margin of 3.19% and a negative return on equity of 35.84%.

Perella Weinberg Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Friday, August 28th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 28th. Perella Weinberg Partners's dividend payout ratio (DPR) is currently 107.69%.

Insider Buying and Selling at Perella Weinberg Partners

In other news, CEO Andrew Bednar sold 77,753 shares of Perella Weinberg Partners stock in a transaction on Friday, August 7th. The stock was sold at an average price of $17.41, for a total value of $1,353,679.73. Following the transaction, the chief executive officer owned 1,061,260 shares in the company, valued at approximately $18,476,536.60. This trade represents a 6.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 235,697 shares of company stock valued at $4,080,379. Company insiders own 26.10% of the company's stock.

Perella Weinberg Partners Company Profile

Perella Weinberg Partners L.P. is a global, partner-led advisory firm specializing in strategic and financial counsel. Founded in 2006 by Joseph R. Perella and Peter Weinberg—both veterans of leading Wall Street institutions—the firm delivers independent advice on mergers and acquisitions, financing, restructuring and capital markets. As an independent entity, it emphasizes senior banker involvement throughout every transaction, ensuring clients benefit from depth of experience and continuity of service.

The firm's core offerings encompass M&A advisory, debt and equity financing, corporate restructuring and capital markets solutions.

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