Perella Weinberg Partners (NASDAQ:PWP) Sets New 1-Year High Following Dividend Announcement

Perella Weinberg Partners (NASDAQ:PWP)’s stock price hit a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The stock traded as high as $25.69 and last traded at $25.3510, with a volume of 307853 shares traded. The stock had previously closed at $23.26.

The newly announced 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 is Tuesday, February 17th. This represents a $0.28 annualized dividend and a dividend yield of 1.1%. Perella Weinberg Partners’s dividend payout ratio is 60.87%.

Analyst Ratings Changes

PWP has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Perella Weinberg Partners in a research note on Thursday, January 22nd. Keefe, Bruyette & Woods upped their price objective on Perella Weinberg Partners from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Monday. Wall Street Zen raised shares of Perella Weinberg Partners from a “sell” rating to a “hold” rating in a report on Saturday. Wolfe Research set a $21.00 price target on shares of Perella Weinberg Partners in a research report on Wednesday, January 7th. Finally, The Goldman Sachs Group set a $21.50 price target on Perella Weinberg Partners in a research report on Monday. One research 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 presently has an average rating of “Hold” and a consensus price target of $23.63.

Perella Weinberg Partners Trading Up 10.2%

The stock has a fifty day moving average of $19.46 and a 200-day moving average of $20.15. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 55.11 and a beta of 1.64.

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

Institutional Investors Weigh In On Perella Weinberg Partners

Institutional investors have recently made changes to their positions in the company. Arizona State Retirement System lifted its stake in shares of Perella Weinberg Partners by 3.4% in the third quarter. Arizona State Retirement System now owns 17,814 shares of the company’s stock valued at $380,000 after buying an additional 583 shares during the period. ProShare Advisors LLC lifted its position in shares of Perella Weinberg Partners by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 11,366 shares of the company’s stock worth $197,000 after acquiring an additional 733 shares during the period. New York State Teachers Retirement System grew its holdings in shares of Perella Weinberg Partners by 16.6% during the 3rd 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 in the last quarter. Harbor Capital Advisors Inc. boosted its stake in Perella Weinberg Partners by 10.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 10,138 shares of the company’s stock worth $175,000 after buying an additional 997 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in Perella Weinberg Partners by 20.9% in the second quarter. Ameritas Investment Partners Inc. now owns 6,225 shares of the company’s stock valued at $121,000 after acquiring an additional 1,075 shares during the period. 41.07% of the stock is currently owned by institutional investors and hedge funds.

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.