Perella Weinberg Partners (NASDAQ:PWP) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in Perella Weinberg Partners (NASDAQ:PWP) by 44.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,975 shares of the company’s stock after selling 9,552 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Perella Weinberg Partners were worth $146,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PWP. FMR LLC raised its stake in shares of Perella Weinberg Partners by 3.8% during the third quarter. FMR LLC now owns 5,780,259 shares of the company’s stock valued at $58,843,000 after purchasing an additional 210,342 shares during the period. Adage Capital Partners GP L.L.C. increased its stake in Perella Weinberg Partners by 2.2% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 2,818,614 shares of the company’s stock worth $28,693,000 after buying an additional 61,333 shares during the period. Schroder Investment Management Group lifted its holdings in Perella Weinberg Partners by 0.4% in the 3rd quarter. Schroder Investment Management Group now owns 2,294,531 shares of the company’s stock worth $23,358,000 after buying an additional 9,366 shares in the last quarter. Boston Partners lifted its holdings in Perella Weinberg Partners by 14.0% in the 3rd quarter. Boston Partners now owns 345,337 shares of the company’s stock worth $3,515,000 after buying an additional 42,400 shares in the last quarter. Finally, First Eagle Investment Management LLC purchased a new position in Perella Weinberg Partners in the 3rd quarter valued at about $1,897,000. 41.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. The Goldman Sachs Group reaffirmed a “sell” rating and set a $11.50 target price (down from $14.00) on shares of Perella Weinberg Partners in a research report on Tuesday, January 9th. JMP Securities lifted their price objective on Perella Weinberg Partners from $18.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $16.00 target price on shares of Perella Weinberg Partners in a research report on Monday, January 29th.

Perella Weinberg Partners Stock Performance

PWP opened at $15.32 on Monday. The company has a market capitalization of $1.32 billion, a P/E ratio of -11.61 and a beta of 1.59. The company has a 50-day moving average of $14.21 and a 200-day moving average of $12.35. Perella Weinberg Partners has a 1-year low of $6.80 and a 1-year high of $16.07.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.08 earnings per share for the quarter. Perella Weinberg Partners had a positive return on equity of 34.39% and a negative net margin of 2.66%. The firm had revenue of $212.68 million during the quarter.

Perella Weinberg Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Wednesday, February 28th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Tuesday, February 27th. Perella Weinberg Partners’s dividend payout ratio is currently -21.21%.

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.