Charles Schwab Investment Management Inc. Acquires 3,914 Shares of Perella Weinberg Partners $PWP

Charles Schwab Investment Management Inc. raised its holdings in shares of Perella Weinberg Partners (NASDAQ:PWP) by 0.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 461,673 shares of the company’s stock after acquiring an additional 3,914 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.53% of Perella Weinberg Partners worth $8,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PWP. Wells Fargo & Company MN raised its holdings in Perella Weinberg Partners by 49.9% during the 4th quarter. Wells Fargo & Company MN now owns 62,723 shares of the company’s stock valued at $1,495,000 after acquiring an additional 20,868 shares during the period. Envestnet Asset Management Inc. raised its holdings in Perella Weinberg Partners by 30.0% during the 4th quarter. Envestnet Asset Management Inc. now owns 24,958 shares of the company’s stock valued at $595,000 after acquiring an additional 5,761 shares during the period. MetLife Investment Management LLC raised its holdings in Perella Weinberg Partners by 5.5% during the 4th quarter. MetLife Investment Management LLC now owns 32,480 shares of the company’s stock valued at $774,000 after acquiring an additional 1,692 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Perella Weinberg Partners by 18.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,402 shares of the company’s stock valued at $487,000 after acquiring an additional 3,176 shares during the period. Finally, Boothbay Fund Management LLC raised its holdings in Perella Weinberg Partners by 200.0% during the 4th quarter. Boothbay Fund Management LLC now owns 120,000 shares of the company’s stock valued at $2,861,000 after acquiring an additional 80,000 shares during the period. Institutional investors own 41.07% of the company’s stock.

Perella Weinberg Partners Stock Performance

Shares of NASDAQ PWP opened at $21.73 on Tuesday. Perella Weinberg Partners has a fifty-two week low of $14.12 and a fifty-two week high of $27.03. The company has a 50 day simple moving average of $20.51 and a two-hundred day simple moving average of $19.46. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 26.50 and a beta of 1.66.

Perella Weinberg Partners (NASDAQ:PWP) last announced its earnings results on Friday, August 1st. The company reported $0.09 earnings per share 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 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 dividend yield of 1.3%. Perella Weinberg Partners’s dividend payout ratio (DPR) is 34.15%.

Insider Buying and Selling at Perella Weinberg Partners

In related news, President Dietrich Becker sold 177,553 shares of the firm’s 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 completion of the sale, the president owned 368,469 shares of the company’s stock, valued at $8,180,011.80. This trade represents a 32.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 31.82% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods upped their price target on shares of Perella Weinberg Partners from $23.00 to $24.00 and gave the stock a “market perform” rating in a report on Monday, August 4th. Wall Street Zen cut Perella Weinberg Partners from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Finally, The Goldman Sachs Group upped their price target on shares of Perella Weinberg Partners from $16.00 to $18.00 and gave the company a “sell” rating in a research report on Thursday, May 15th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Perella Weinberg Partners has an average rating of “Hold” and a consensus target price of $23.67.

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.