Perella Weinberg Partners (NASDAQ:PWP) Hits New 12-Month High Following Dividend Announcement

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

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

Analysts Set New Price Targets

PWP has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Perella Weinberg Partners from $20.00 to $23.00 and gave the company a “market perform” rating in a research note on Monday. The Goldman Sachs Group boosted their price objective on shares of Perella Weinberg Partners from $19.00 to $21.50 and gave the company a “sell” rating in a research note on Monday. Wall Street Zen raised Perella Weinberg Partners from a “sell” rating to a “hold” rating in a report on Saturday. Wolfe Research set a $21.00 price objective on shares of Perella Weinberg Partners in a research report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Perella Weinberg Partners in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Perella Weinberg Partners presently has a consensus rating of “Hold” and an average price target of $23.63.

Perella Weinberg Partners Trading Down 1.7%

The firm has a market capitalization of $2.12 billion, a PE ratio of 52.00 and a beta of 1.64. The firm has a 50 day simple moving average of $19.71 and a 200 day simple moving average of $20.20.

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

Hedge Funds Weigh In On Perella Weinberg Partners

Large investors have recently made changes to their positions in the business. Emerald Advisers LLC lifted its stake in Perella Weinberg Partners by 41.4% during the 3rd quarter. Emerald Advisers LLC now owns 803,654 shares of the company’s stock worth $17,134,000 after acquiring an additional 235,448 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Perella Weinberg Partners during the second quarter worth approximately $28,019,000. Calamos Advisors LLC acquired a new stake in shares of Perella Weinberg Partners in the 3rd quarter valued at $1,696,000. Geode Capital Management LLC raised its stake in Perella Weinberg Partners by 10.9% in the second quarter. Geode Capital Management LLC now owns 1,490,650 shares of the company’s stock valued at $28,952,000 after buying an additional 146,352 shares in the last quarter. Finally, Walleye Capital LLC increased its holdings in shares of Perella Weinberg Partners by 82.7% in the 2nd quarter. Walleye Capital LLC now owns 1,372,866 shares of the company’s stock valued at $26,661,000 after acquiring an additional 621,570 shares during the last quarter. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

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.