Boston Partners raised its stake in Perella Weinberg Partners (NASDAQ:PWP – Free Report) by 487.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 302,937 shares of the company’s stock after buying an additional 251,353 shares during the quarter. Boston Partners owned 0.35% of Perella Weinberg Partners worth $2,525,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PWP. Wellington Management Group LLP grew its stake in shares of Perella Weinberg Partners by 44.9% in the 1st quarter. Wellington Management Group LLP now owns 7,733,672 shares of the company’s stock valued at $73,017,000 after buying an additional 2,396,198 shares in the last quarter. FMR LLC grew its position in Perella Weinberg Partners by 2.2% in the first quarter. FMR LLC now owns 5,476,309 shares of the company’s stock worth $49,834,000 after acquiring an additional 117,816 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Perella Weinberg Partners by 33.1% during the 1st quarter. Vanguard Group Inc. now owns 1,796,676 shares of the company’s stock worth $16,979,000 after purchasing an additional 446,362 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Perella Weinberg Partners by 194.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,506,833 shares of the company’s stock valued at $12,552,000 after purchasing an additional 994,349 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its stake in shares of Perella Weinberg Partners by 14.0% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 1,411,500 shares of the company’s stock valued at $13,833,000 after purchasing an additional 173,300 shares during the last quarter. Hedge funds and other institutional investors own 39.38% of the company’s stock.
Analyst Ratings Changes
Several equities analysts have weighed in on PWP shares. The Goldman Sachs Group raised their target price on Perella Weinberg Partners from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, August 4th. TheStreet upgraded Perella Weinberg Partners from a “d+” rating to a “c-” rating in a report on Monday, September 18th. Finally, JMP Securities reiterated a “market outperform” rating and set a $18.00 price target on shares of Perella Weinberg Partners in a report on Monday.
Perella Weinberg Partners Stock Performance
Perella Weinberg Partners stock opened at $11.18 on Tuesday. Perella Weinberg Partners has a 52 week low of $6.80 and a 52 week high of $12.00. The firm has a market capitalization of $963.15 million, a PE ratio of -10.07 and a beta of 1.49. The business’s 50-day simple moving average is $10.17 and its 200-day simple moving average is $9.55.
Perella Weinberg Partners Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 24th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.50%. Perella Weinberg Partners’s dividend payout ratio (DPR) is presently -25.23%.
Perella Weinberg Partners Company Profile
Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advice services related to mission-critical strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, capital markets advisory, private capital placement, and financing and capital advisory solutions focused on restructuring and liability management, as well as underwriting and research services primarily for the energy and related industries.
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