Envestnet Asset Management Inc. Has $542,000 Position in Perella Weinberg Partners (NASDAQ:PWP)

Envestnet Asset Management Inc. increased its stake in Perella Weinberg Partners (NASDAQ:PWP) by 18.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 29,466 shares of the company’s stock after purchasing an additional 4,508 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Perella Weinberg Partners were worth $542,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Perella Weinberg Partners by 3.8% during the fourth quarter. FMR LLC now owns 8,181,941 shares of the company’s stock worth $195,057,000 after buying an additional 301,587 shares during the last quarter. Vanguard Group Inc. grew its position in Perella Weinberg Partners by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 3,163,844 shares of the company’s stock valued at $75,426,000 after acquiring an additional 260,319 shares during the period. Azora Capital LP grew its position in Perella Weinberg Partners by 3.4% in the fourth quarter. Azora Capital LP now owns 2,492,789 shares of the company’s stock valued at $59,428,000 after acquiring an additional 81,747 shares during the period. Westwood Holdings Group Inc. grew its position in Perella Weinberg Partners by 0.8% in the fourth quarter. Westwood Holdings Group Inc. now owns 2,112,393 shares of the company’s stock valued at $50,359,000 after acquiring an additional 15,961 shares during the period. Finally, Wellington Management Group LLP grew its position in Perella Weinberg Partners by 13.7% in the fourth quarter. Wellington Management Group LLP now owns 1,316,562 shares of the company’s stock valued at $31,387,000 after acquiring an additional 158,957 shares during the period. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JMP Securities lowered their price target on Perella Weinberg Partners from $33.00 to $29.00 and set a “market outperform” rating on the stock in a research report on Tuesday, April 8th. The Goldman Sachs Group raised their price target on Perella Weinberg Partners from $16.00 to $18.00 and gave the company a “sell” rating in a report on Thursday, May 15th. Keefe, Bruyette & Woods raised their price target on Perella Weinberg Partners from $23.00 to $24.00 and gave the company a “market perform” rating in a report on Monday. Finally, Wall Street Zen cut Perella Weinberg Partners from a “buy” rating to a “hold” rating in a report on Saturday, July 12th.

Perella Weinberg Partners Trading Up 1.6%

NASDAQ:PWP opened at $22.19 on Wednesday. Perella Weinberg Partners has a 1-year low of $14.12 and a 1-year high of $27.03. The firm has a market capitalization of $1.96 billion, a price-to-earnings ratio of 27.06 and a beta of 1.66. The business’s 50-day moving average price is $19.41 and its two-hundred day moving average price is $19.87.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings results on Friday, August 1st. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). The business had revenue of $155.27 million for the quarter, compared to analyst estimates of $188.06 million. Perella Weinberg Partners had a negative return on equity of 26.14% and a net margin of 6.57%.

Perella Weinberg Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Friday, August 29th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. Perella Weinberg Partners’s dividend payout ratio (DPR) is currently 34.15%.

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.