Geode Capital Management LLC Has $28.95 Million Stock Position in Perella Weinberg Partners $PWP

Geode Capital Management LLC lifted its stake in shares of Perella Weinberg Partners (NASDAQ:PWP) by 10.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,490,650 shares of the company’s stock after purchasing an additional 146,352 shares during the period. Geode Capital Management LLC owned 1.69% of Perella Weinberg Partners worth $28,952,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PWP. Envestnet Asset Management Inc. increased its holdings in Perella Weinberg Partners by 18.1% during the first quarter. Envestnet Asset Management Inc. now owns 29,466 shares of the company’s stock worth $542,000 after buying an additional 4,508 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Perella Weinberg Partners in the first quarter valued at $748,000. Picton Mahoney Asset Management bought a new position in shares of Perella Weinberg Partners in the 1st quarter valued at about $118,000. US Bancorp DE increased its stake in shares of Perella Weinberg Partners by 5.8% during the 1st quarter. US Bancorp DE now owns 18,623 shares of the company’s stock worth $343,000 after purchasing an additional 1,021 shares during the last quarter. Finally, Alberta Investment Management Corp increased its stake in shares of Perella Weinberg Partners by 32.1% during the 1st quarter. Alberta Investment Management Corp now owns 52,928 shares of the company’s stock worth $974,000 after purchasing an additional 12,869 shares during the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock.

Perella Weinberg Partners Stock Performance

Shares of PWP opened at $18.27 on Friday. The firm has a market cap of $1.62 billion, a P/E ratio of 27.68 and a beta of 1.63. Perella Weinberg Partners has a 52 week low of $14.12 and a 52 week high of $27.03. The firm’s 50-day simple moving average is $19.42 and its 200 day simple moving average is $19.95.

Perella Weinberg Partners (NASDAQ:PWP) last issued its quarterly earnings data on Friday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). Perella Weinberg Partners had a negative return on equity of 21.55% and a net margin of 6.15%.The company had revenue of $164.65 million for the quarter, compared to analyst estimates of $179.83 million.

Perella Weinberg Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, November 17th will be paid a $0.07 dividend. The ex-dividend date is Monday, November 17th. This represents a $0.28 annualized dividend and a yield of 1.5%. Perella Weinberg Partners’s payout ratio is 42.42%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PWP. Weiss Ratings reiterated a “hold (c)” rating on shares of Perella Weinberg Partners in a research note on Wednesday, October 8th. Wall Street Zen lowered Perella Weinberg Partners from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Finally, Keefe, Bruyette & Woods reduced their target price on Perella Weinberg Partners from $21.00 to $19.00 and set a “market perform” rating for the company in a research note on Monday, November 10th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Perella Weinberg Partners presently has an average rating of “Hold” and an average target price of $22.00.

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.