Perella Weinberg Partners $PWP Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its position in Perella Weinberg Partners (NASDAQ:PWP) by 345.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 105,312 shares of the company’s stock after purchasing an additional 81,648 shares during the period. Envestnet Asset Management Inc.’s holdings in Perella Weinberg Partners were worth $2,245,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System raised its position in Perella Weinberg Partners by 3.4% during the 3rd quarter. Arizona State Retirement System now owns 17,814 shares of the company’s stock worth $380,000 after buying an additional 583 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of Perella Weinberg Partners by 16.6% during the third quarter. New York State Teachers Retirement System now owns 5,510 shares of the company’s stock worth $117,000 after purchasing an additional 786 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Perella Weinberg Partners by 20.9% during the second quarter. Ameritas Investment Partners Inc. now owns 6,225 shares of the company’s stock worth $121,000 after purchasing an additional 1,075 shares during the last quarter. ProShare Advisors LLC lifted its position in Perella Weinberg Partners by 11.6% during the second quarter. ProShare Advisors LLC now owns 12,502 shares of the company’s stock valued at $243,000 after purchasing an additional 1,303 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Perella Weinberg Partners by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,745 shares of the company’s stock valued at $566,000 after purchasing an additional 1,342 shares during the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock.

Perella Weinberg Partners Stock Down 5.3%

PWP opened at $18.51 on Friday. The firm’s fifty day simple moving average is $20.34 and its two-hundred day simple moving average is $20.13. Perella Weinberg Partners has a 52-week low of $14.12 and a 52-week high of $25.92. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 40.24 and a beta of 1.64.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings results on Friday, February 6th. The company reported $0.17 earnings per share for the quarter, hitting the consensus estimate of $0.17. Perella Weinberg Partners had a net margin of 4.69% and a negative return on equity of 21.97%. The firm had revenue of $219.16 million during the quarter, compared to the consensus estimate of $192.84 million.

Perella Weinberg Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 9th. Stockholders of record on Tuesday, February 17th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. Perella Weinberg Partners’s payout ratio is currently 60.87%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PWP. The Goldman Sachs Group increased their price target on Perella Weinberg Partners from $19.00 to $21.50 and gave the stock a “sell” rating in a research report on Monday, February 9th. Weiss Ratings restated a “hold (c)” rating on shares of Perella Weinberg Partners in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods lifted their price target on Perella Weinberg Partners from $20.00 to $23.00 and gave the company a “market perform” rating in a research report on Monday, February 9th. Wolfe Research set a $21.00 price objective on shares of Perella Weinberg Partners in a research note on Wednesday, January 7th. Finally, Wall Street Zen upgraded shares of Perella Weinberg Partners from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.63.

Perella Weinberg Partners 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.