Perella Weinberg Partners $PWP Shares Bought by Deutsche Bank AG

Deutsche Bank AG lifted its holdings in shares of Perella Weinberg Partners (NASDAQ:PWP) by 235.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 151,595 shares of the company’s stock after acquiring an additional 106,416 shares during the period. Deutsche Bank AG owned 0.17% of Perella Weinberg Partners worth $2,789,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. New York State Common Retirement Fund grew its stake in shares of Perella Weinberg Partners by 402.6% in the 1st quarter. New York State Common Retirement Fund now owns 849,590 shares of the company’s stock valued at $15,632,000 after purchasing an additional 680,563 shares during the last quarter. Emerald Advisers LLC purchased a new position in shares of Perella Weinberg Partners in the 1st quarter valued at approximately $7,420,000. Algert Global LLC grew its stake in shares of Perella Weinberg Partners by 137.4% in the 4th quarter. Algert Global LLC now owns 376,564 shares of the company’s stock valued at $8,977,000 after purchasing an additional 217,918 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Perella Weinberg Partners by 46.1% in the 4th quarter. Bank of America Corp DE now owns 672,481 shares of the company’s stock valued at $16,032,000 after purchasing an additional 212,296 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of Perella Weinberg Partners in the 1st quarter valued at approximately $3,798,000. Institutional investors and hedge funds own 41.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PWP. Keefe, Bruyette & Woods lifted their price objective on Perella Weinberg Partners from $23.00 to $24.00 and gave the company a “market perform” rating in a research report on Monday, August 4th. The Goldman Sachs Group lifted their price objective on Perella Weinberg Partners from $16.00 to $18.00 and gave the company a “sell” rating in a research report on Thursday, May 15th. Finally, Wall Street Zen downgraded Perella Weinberg Partners from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $23.67.

Insider Buying and Selling at Perella Weinberg Partners

In related news, President Dietrich Becker sold 177,553 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $22.20, for a total transaction of $3,941,676.60. Following the sale, the president owned 368,469 shares in the company, valued at approximately $8,180,011.80. This trade represents a 32.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 31.82% of the stock is owned by corporate insiders.

Perella Weinberg Partners Stock Performance

Shares of NASDAQ:PWP opened at $21.32 on Wednesday. The stock has a fifty day moving average of $20.24 and a 200-day moving average of $19.61. The company has a market capitalization of $1.87 billion, a PE ratio of 26.00 and a beta of 1.66. Perella Weinberg Partners has a one year low of $14.12 and a one year high of $27.03.

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

Perella Weinberg Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Friday, August 29th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.28 annualized dividend and a yield of 1.3%. Perella Weinberg Partners’s payout ratio is 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.