Perella Weinberg Partners (NASDAQ:PWP) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its holdings in Perella Weinberg Partners (NASDAQ:PWP) by 37.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 948,072 shares of the company’s stock after selling 574,106 shares during the quarter. Russell Investments Group Ltd.’s holdings in Perella Weinberg Partners were worth $11,595,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PWP. Allworth Financial LP acquired a new stake in Perella Weinberg Partners in the 4th quarter worth about $44,000. Quantbot Technologies LP purchased a new position in shares of Perella Weinberg Partners in the third quarter valued at approximately $62,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Perella Weinberg Partners by 21.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,681 shares of the company’s stock worth $131,000 after acquiring an additional 1,855 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Perella Weinberg Partners during the fourth quarter worth approximately $137,000. Finally, Simplicity Solutions LLC increased its position in shares of Perella Weinberg Partners by 38.4% during the third quarter. Simplicity Solutions LLC now owns 16,136 shares of the company’s stock worth $164,000 after purchasing an additional 4,474 shares in the last quarter. 41.07% of the stock is owned by institutional investors and hedge funds.

Perella Weinberg Partners Stock Performance

Shares of Perella Weinberg Partners stock opened at $14.72 on Monday. The business’s 50 day moving average price is $14.40 and its 200 day moving average price is $12.53. The company has a market cap of $1.27 billion, a price-to-earnings ratio of -7.91 and a beta of 1.52. Perella Weinberg Partners has a one year low of $6.80 and a one year high of $16.07.

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

Perella Weinberg Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Tuesday, May 28th. Perella Weinberg Partners’s dividend payout ratio (DPR) is presently -15.05%.

Analyst Upgrades and Downgrades

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

About Perella Weinberg Partners

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.