Ameriprise Financial Inc. Sells 12,199 Shares of Perella Weinberg Partners (NASDAQ:PWP)

Ameriprise Financial Inc. trimmed its position in Perella Weinberg Partners (NASDAQ:PWP) by 1.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 819,230 shares of the company’s stock after selling 12,199 shares during the period. Ameriprise Financial Inc.’s holdings in Perella Weinberg Partners were worth $19,529,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of PWP. Quadrant Capital Group LLC raised its position in Perella Weinberg Partners by 43.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,540 shares of the company’s stock valued at $37,000 after purchasing an additional 470 shares during the last quarter. Venturi Wealth Management LLC bought a new position in shares of Perella Weinberg Partners during the fourth quarter worth about $64,000. Meeder Asset Management Inc. acquired a new position in shares of Perella Weinberg Partners in the fourth quarter worth approximately $179,000. KLP Kapitalforvaltning AS bought a new stake in Perella Weinberg Partners during the fourth quarter valued at $248,000. Finally, Aigen Investment Management LP acquired a new position in Perella Weinberg Partners in the fourth quarter valued at approximately $311,000. Institutional investors and hedge funds own 41.07% of the company’s stock.

Perella Weinberg Partners Price Performance

Shares of PWP opened at $18.97 on Friday. The firm’s 50 day simple moving average is $17.71 and its 200 day simple moving average is $21.87. The company has a market capitalization of $1.68 billion, a P/E ratio of -12.01 and a beta of 1.69. Perella Weinberg Partners has a 1-year low of $13.82 and a 1-year high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.07. Perella Weinberg Partners had a negative return on equity of 72.27% and a negative net margin of 7.37%. The firm had revenue of $211.83 million during the quarter, compared to analysts’ expectations of $200.29 million. During the same period in the prior year, the business earned ($0.10) EPS.

Perella Weinberg Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Wednesday, May 14th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Wednesday, May 14th. Perella Weinberg Partners’s payout ratio is -65.12%.

Wall Street Analysts Forecast Growth

PWP has been the subject of several recent analyst reports. JMP Securities reduced their price objective on shares of Perella Weinberg Partners from $33.00 to $29.00 and set a “market outperform” rating for the company in a research report on Tuesday, April 8th. The Goldman Sachs Group upped their price target on Perella Weinberg Partners from $16.00 to $18.00 and gave the stock a “sell” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of Perella Weinberg Partners from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday.

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 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.