Teacher Retirement System of Texas Makes New Investment in Perella Weinberg Partners $PWP

Teacher Retirement System of Texas purchased a new position in shares of Perella Weinberg Partners (NASDAQ:PWP) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 10,155 shares of the company’s stock, valued at approximately $197,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Perella Weinberg Partners during the first quarter valued at approximately $40,000. CWM LLC lifted its stake in shares of Perella Weinberg Partners by 162.4% in the second quarter. CWM LLC now owns 3,936 shares of the company’s stock worth $76,000 after buying an additional 2,436 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of Perella Weinberg Partners during the 2nd quarter worth $92,000. Picton Mahoney Asset Management acquired a new position in Perella Weinberg Partners in the 1st quarter valued at $118,000. Finally, KLP Kapitalforvaltning AS raised its holdings in Perella Weinberg Partners by 36.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 14,200 shares of the company’s stock worth $276,000 after acquiring an additional 3,800 shares during the period. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Perella Weinberg Partners in a report on Wednesday, October 8th. Keefe, Bruyette & Woods cut their price objective on Perella Weinberg Partners from $21.00 to $19.00 and set a “market perform” rating for the company 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 given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.00.

Perella Weinberg Partners Price Performance

NASDAQ PWP opened at $19.36 on Thursday. The company’s fifty day moving average is $20.46 and its two-hundred day moving average is $19.93. Perella Weinberg Partners has a 52-week low of $14.12 and a 52-week high of $27.03. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 29.33 and a beta of 1.63.

Perella Weinberg Partners (NASDAQ:PWP) last released its earnings results on Friday, November 7th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). Perella Weinberg Partners had a net margin of 6.15% and a negative return on equity of 21.55%. The company had revenue of $164.65 million during the quarter, compared to the consensus estimate of $179.83 million.

Perella Weinberg Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, November 17th will be given a $0.07 dividend. The ex-dividend date is Monday, November 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. Perella Weinberg Partners’s dividend payout ratio (DPR) is currently 42.42%.

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.