Perella Weinberg Partners $PWP Stake Lifted by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its holdings in Perella Weinberg Partners by 128.6% in Q1, owning 3,009,484 shares valued at approximately $55.4 million.
• Perella Weinberg Partners recently reported a net margin of 6.57% with a revenue of $155.27 million for the quarter, missing analysts' expectations.
• The company announced a quarterly dividend of $0.07 per share, to be paid on September 10th, with a current yield of 1.3% and a payout ratio of 34.15%.

Wellington Management Group LLP raised its holdings in Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 128.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,009,484 shares of the company's stock after buying an additional 1,692,922 shares during the quarter. Wellington Management Group LLP owned approximately 3.47% of Perella Weinberg Partners worth $55,375,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Perella Weinberg Partners by 1.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,403 shares of the company's stock valued at $701,000 after buying an additional 518 shares during the period. Ancora Advisors LLC boosted its position in shares of Perella Weinberg Partners by 0.4% in the fourth quarter. Ancora Advisors LLC now owns 203,446 shares of the company's stock worth $4,850,000 after buying an additional 830 shares during the period. US Bancorp DE boosted its position in shares of Perella Weinberg Partners by 5.8% in the first quarter. US Bancorp DE now owns 18,623 shares of the company's stock worth $343,000 after buying an additional 1,021 shares during the period. MetLife Investment Management LLC boosted its position in shares of Perella Weinberg Partners by 5.5% in the fourth quarter. MetLife Investment Management LLC now owns 32,480 shares of the company's stock worth $774,000 after buying an additional 1,692 shares during the period. Finally, Versant Capital Management Inc purchased a new stake in shares of Perella Weinberg Partners during the first quarter worth about $32,000. Hedge funds and other institutional investors own 41.07% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity at Perella Weinberg Partners

In other 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 transaction 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 approximately $8,180,011.80. This represents a 32.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 31.82% of the company's stock.

Perella Weinberg Partners Stock Up 0.7%

NASDAQ:PWP traded up $0.15 during trading hours on Thursday, reaching $22.57. 991,464 shares of the stock were exchanged, compared to its average volume of 966,391. The firm has a 50 day simple moving average of $20.70 and a 200-day simple moving average of $19.50. Perella Weinberg Partners has a 52 week low of $14.12 and a 52 week high of $27.03. The stock has a market capitalization of $1.97 billion, a P/E ratio of 27.51 and a beta of 1.66.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last posted its earnings results on Friday, August 1st. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.07). The company had revenue of $155.27 million for the quarter, compared to the consensus estimate 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.28 annualized dividend and a dividend yield of 1.2%. Perella Weinberg Partners's dividend payout ratio is 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.