Bank of New York Mellon Corp Buys 61,428 Shares of Perella Weinberg Partners (NASDAQ:PWP)

Bank of New York Mellon Corp lifted its stake in shares of Perella Weinberg Partners (NASDAQ:PWP) by 47.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 190,553 shares of the company’s stock after acquiring an additional 61,428 shares during the period. Bank of New York Mellon Corp’s holdings in Perella Weinberg Partners were worth $4,543,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PWP. Azora Capital LP raised its holdings in Perella Weinberg Partners by 4.8% in the 3rd quarter. Azora Capital LP now owns 2,411,042 shares of the company’s stock worth $46,557,000 after acquiring an additional 110,370 shares during the period. Wasatch Advisors LP grew its position in shares of Perella Weinberg Partners by 13.3% in the third quarter. Wasatch Advisors LP now owns 1,483,429 shares of the company’s stock valued at $28,645,000 after purchasing an additional 174,445 shares during the last quarter. State Street Corp increased its stake in shares of Perella Weinberg Partners by 4.5% in the third quarter. State Street Corp now owns 1,379,418 shares of the company’s stock worth $26,637,000 after purchasing an additional 59,989 shares during the period. Geode Capital Management LLC lifted its position in shares of Perella Weinberg Partners by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,257,620 shares of the company’s stock worth $24,289,000 after purchasing an additional 34,301 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Perella Weinberg Partners by 200.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,157,605 shares of the company’s stock worth $22,353,000 after purchasing an additional 771,736 shares during the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on PWP shares. The Goldman Sachs Group lowered their target price on Perella Weinberg Partners from $23.00 to $20.00 and set a “sell” rating on the stock in a report on Friday. Keefe, Bruyette & Woods boosted their target price on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday, February 10th.

Perella Weinberg Partners Stock Performance

NASDAQ PWP opened at $19.39 on Tuesday. Perella Weinberg Partners has a twelve month low of $11.68 and a twelve month high of $27.03. The stock has a market cap of $1.68 billion, a PE ratio of -12.27 and a beta of 1.61. The firm has a 50-day simple moving average of $23.38 and a 200 day simple moving average of $22.62.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings data on Friday, February 7th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). Perella Weinberg Partners had a negative return on equity of 72.27% and a negative net margin of 7.37%.

Perella Weinberg Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Tuesday, February 18th. Perella Weinberg Partners’s dividend payout ratio (DPR) is presently -17.72%.

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.