Allspring Global Investments Holdings LLC cut its position in shares of Perella Weinberg Partners (NASDAQ:PWP – Free Report) by 38.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,527 shares of the company’s stock after selling 13,493 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Perella Weinberg Partners were worth $219,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PWP. Morgan Stanley boosted its holdings in Perella Weinberg Partners by 1.2% in the fourth quarter. Morgan Stanley now owns 106,695 shares of the company’s stock worth $1,046,000 after purchasing an additional 1,285 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Perella Weinberg Partners by 7.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 22,116 shares of the company’s stock valued at $129,000 after acquiring an additional 1,612 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Perella Weinberg Partners by 2.2% during the 1st quarter. Bank of New York Mellon Corp now owns 81,682 shares of the company’s stock valued at $771,000 after acquiring an additional 1,728 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Perella Weinberg Partners by 14.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,316 shares of the company’s stock valued at $153,000 after acquiring an additional 2,317 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in Perella Weinberg Partners by 23.1% in the 1st quarter. Hsbc Holdings PLC now owns 14,161 shares of the company’s stock worth $137,000 after purchasing an additional 2,658 shares during the last quarter. 39.38% of the stock is owned by hedge funds and other institutional investors.
Perella Weinberg Partners Price Performance
NASDAQ:PWP opened at $12.24 on Wednesday. Perella Weinberg Partners has a one year low of $6.80 and a one year high of $12.92. The company has a fifty day moving average price of $11.77 and a 200 day moving average price of $10.82. The stock has a market cap of $1.05 billion, a P/E ratio of -11.03 and a beta of 1.55.
Perella Weinberg Partners Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Friday, November 24th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Wednesday, November 22nd. Perella Weinberg Partners’s payout ratio is presently -25.22%.
In related news, General Counsel Vladimir Shendelman sold 7,722 shares of Perella Weinberg Partners stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $12.46, for a total transaction of $96,216.12. Following the transaction, the general counsel now owns 67,341 shares of the company’s stock, valued at approximately $839,068.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 48.50% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
A number of research firms have recently commented on PWP. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $16.00 price target on shares of Perella Weinberg Partners in a research report on Monday. The Goldman Sachs Group reiterated a “sell” rating and issued a $11.50 target price (down previously from $14.00) on shares of Perella Weinberg Partners in a report on Tuesday, January 9th. Finally, JMP Securities restated a “market outperform” rating and set a $18.00 price target on shares of Perella Weinberg Partners in a report on Monday, November 20th.
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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