Perella Weinberg Partners (NASDAQ:PWP) Sets New 1-Year High Following Dividend Announcement

Perella Weinberg Partners (NASDAQ:PWP) shares reached a new 52-week high during trading on Monday following a dividend announcement from the company. The company traded as high as $25.69 and last traded at $25.3510, with a volume of 307853 shares. The stock had previously closed at $23.26.

The newly announced dividend which will be paid on Monday, March 9th. Shareholders of record on Tuesday, February 17th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, February 17th. Perella Weinberg Partners’s dividend payout ratio (DPR) is 60.87%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wolfe Research set a $21.00 price objective on shares of Perella Weinberg Partners in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods lifted their price objective on Perella Weinberg Partners from $20.00 to $23.00 and gave the stock a “market perform” rating in a research note on Monday. The Goldman Sachs Group increased their target price on Perella Weinberg Partners from $19.00 to $21.50 and gave the company a “sell” rating in a research note on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Perella Weinberg Partners in a report on Thursday, January 22nd. Finally, Wall Street Zen upgraded Perella Weinberg Partners from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $23.63.

Perella Weinberg Partners Stock Up 4.6%

The business has a 50-day moving average price of $19.58 and a 200-day moving average price of $20.17. The firm has a market capitalization of $2.16 billion, a P/E ratio of 52.91 and a beta of 1.64.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings data on Friday, February 6th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.17. Perella Weinberg Partners had a net margin of 4.69% and a negative return on equity of 21.97%. The company had revenue of $219.16 million during the quarter, compared to analysts’ expectations of $192.84 million.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. William Blair Investment Management LLC raised its holdings in shares of Perella Weinberg Partners by 10.6% in the fourth quarter. William Blair Investment Management LLC now owns 3,946,163 shares of the company’s stock valued at $68,269,000 after buying an additional 379,652 shares during the last quarter. Vanguard Group Inc. lifted its position in Perella Weinberg Partners by 6.9% during the 4th quarter. Vanguard Group Inc. now owns 3,722,756 shares of the company’s stock valued at $64,404,000 after purchasing an additional 241,363 shares during the period. Adage Capital Partners GP L.L.C. boosted its stake in Perella Weinberg Partners by 73.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 3,136,484 shares of the company’s stock valued at $60,911,000 after acquiring an additional 1,328,312 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in Perella Weinberg Partners by 79.6% in the second quarter. Ameriprise Financial Inc. now owns 1,575,063 shares of the company’s stock valued at $30,588,000 after purchasing an additional 698,021 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Perella Weinberg Partners by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,511,986 shares of the company’s stock worth $26,162,000 after acquiring an additional 3,939 shares during the last quarter. Institutional investors own 41.07% of the company’s stock.

About Perella Weinberg Partners

Perella Weinberg Partners L.P. is a global, partner-led advisory firm specializing in strategic and financial counsel. Founded in 2006 by Joseph R. Perella and Peter Weinberg—both veterans of leading Wall Street institutions—the firm delivers independent advice on mergers and acquisitions, financing, restructuring and capital markets. As an independent entity, it emphasizes senior banker involvement throughout every transaction, ensuring clients benefit from depth of experience and continuity of service.

The firm’s core offerings encompass M&A advisory, debt and equity financing, corporate restructuring and capital markets solutions.