JPMorgan Chase & Co. Sells 202,171 Shares of Perella Weinberg Partners (NASDAQ:PWP)

JPMorgan Chase & Co. cut its position in Perella Weinberg Partners (NASDAQ:PWP) by 46.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 233,751 shares of the company’s stock after selling 202,171 shares during the period. JPMorgan Chase & Co.’s holdings in Perella Weinberg Partners were worth $5,573,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Perella Weinberg Partners by 9.0% in the fourth quarter. Vanguard Group Inc. now owns 3,163,844 shares of the company’s stock valued at $75,426,000 after purchasing an additional 260,319 shares during the period. State Street Corp boosted its holdings in shares of Perella Weinberg Partners by 4.5% in the 3rd quarter. State Street Corp now owns 1,379,418 shares of the company’s stock valued at $26,637,000 after acquiring an additional 59,989 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Perella Weinberg Partners by 2.8% in the third quarter. Geode Capital Management LLC now owns 1,257,620 shares of the company’s stock worth $24,289,000 after acquiring an additional 34,301 shares during the period. William Blair Investment Management LLC raised its stake in shares of Perella Weinberg Partners by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 1,236,570 shares of the company’s stock valued at $29,480,000 after buying an additional 30,441 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Perella Weinberg Partners in the 4th quarter valued at about $18,493,000. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Perella Weinberg Partners Stock Up 1.0 %

Shares of PWP opened at $15.80 on Friday. The firm’s fifty day moving average is $19.63 and its two-hundred day moving average is $22.32. The stock has a market cap of $1.37 billion, a PE ratio of -10.00 and a beta of 1.68. Perella Weinberg Partners has a 52-week low of $11.68 and a 52-week high of $27.03.

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

Perella Weinberg Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.77%. The ex-dividend date was Tuesday, February 18th. Perella Weinberg Partners’s dividend payout ratio (DPR) is presently -17.72%.

Analysts Set New Price Targets

A number of research analysts have issued reports on PWP shares. JMP Securities decreased their price target on Perella Weinberg Partners from $33.00 to $29.00 and set a “market outperform” rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group decreased their target price on Perella Weinberg Partners from $20.00 to $18.00 and set a “sell” rating on the stock in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the company an “outperform” rating in a research report on Monday, February 10th.

About Perella Weinberg Partners

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.