Northern Trust Corp Buys 18,590 Shares of Perella Weinberg Partners (NASDAQ:PWP)

Northern Trust Corp boosted its stake in shares of Perella Weinberg Partners (NASDAQ:PWP - Free Report) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 489,964 shares of the company's stock after acquiring an additional 18,590 shares during the quarter. Northern Trust Corp owned 0.56% of Perella Weinberg Partners worth $11,681,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Quadrant Capital Group LLC raised its stake in shares of Perella Weinberg Partners by 43.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,540 shares of the company's stock valued at $37,000 after acquiring an additional 470 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Perella Weinberg Partners in the fourth quarter valued at approximately $64,000. Meeder Asset Management Inc. bought a new position in shares of Perella Weinberg Partners in the fourth quarter valued at approximately $179,000. KLP Kapitalforvaltning AS bought a new position in shares of Perella Weinberg Partners in the fourth quarter valued at approximately $248,000. Finally, Aigen Investment Management LP bought a new position in shares of Perella Weinberg Partners in the fourth quarter valued at approximately $311,000. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Perella Weinberg Partners Stock Performance

PWP traded down $0.26 during mid-day trading on Monday, reaching $18.87. The stock had a trading volume of 659,472 shares, compared to its average volume of 633,886. The stock has a market capitalization of $1.67 billion, a P/E ratio of -11.94 and a beta of 1.69. The firm's fifty day simple moving average is $17.70 and its two-hundred day simple moving average is $21.86. Perella Weinberg Partners has a 52 week low of $13.82 and a 52 week high of $27.03.

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

Perella Weinberg Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Wednesday, May 14th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Wednesday, May 14th. Perella Weinberg Partners's dividend payout ratio (DPR) is -65.12%.

Analyst Upgrades and Downgrades

PWP has been the topic of several research reports. JMP Securities reduced their price target on shares of Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating on the stock in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods reduced their price target on shares of Perella Weinberg Partners from $24.00 to $22.00 and set an "outperform" rating on the stock in a research report on Monday, May 12th. Finally, The Goldman Sachs Group upped 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 report on Thursday.

Perella Weinberg Partners Profile

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.