Perella Weinberg Partners (NASDAQ:PWP) Sets New 1-Year High Following Dividend Announcement

Perella Weinberg Partners (NASDAQ:PWPGet Free Report) reached a new 52-week high on Friday after the company announced a dividend. The stock traded as high as $12.92 and last traded at $12.87, with a volume of 25321 shares. The stock had previously closed at $12.49.

The newly announced dividend which will be paid on Monday, March 11th. Shareholders of record on Wednesday, February 28th will be given a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.19%. Perella Weinberg Partners’s dividend payout ratio (DPR) is presently -25.23%.

Analyst Ratings Changes

Several brokerages recently commented on PWP. Keefe, Bruyette & Woods restated an “outperform” rating and set a $16.00 target price on shares of Perella Weinberg Partners in a research report on Monday, January 29th. The Goldman Sachs Group restated a “sell” rating and set a $11.50 target price (down previously from $14.00) on shares of Perella Weinberg Partners in a research report on Tuesday, January 9th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $18.00 price target on shares of Perella Weinberg Partners in a report on Monday, November 20th.

Read Our Latest Report on PWP

Perella Weinberg Partners Stock Up 2.5 %

The stock has a 50-day moving average of $11.84 and a 200 day moving average of $10.94. The company has a market capitalization of $1.10 billion, a PE ratio of -11.53 and a beta of 1.55.

Insider Buying and Selling at Perella Weinberg Partners

In other news, General Counsel Vladimir Shendelman sold 7,722 shares of the firm’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $12.46, for a total value of $96,216.12. Following the completion of the transaction, the general counsel now directly owns 67,341 shares of the company’s stock, valued at $839,068.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 49.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Perella Weinberg Partners

Several hedge funds have recently made changes to their positions in PWP. US Bancorp DE purchased a new position in Perella Weinberg Partners during the fourth quarter worth about $142,000. Quest Partners LLC purchased a new position in Perella Weinberg Partners during the fourth quarter worth about $364,000. Trexquant Investment LP purchased a new position in Perella Weinberg Partners during the fourth quarter worth about $608,000. UBS Group AG grew its position in Perella Weinberg Partners by 139.4% during the fourth quarter. UBS Group AG now owns 54,628 shares of the company’s stock worth $668,000 after buying an additional 31,812 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its position in Perella Weinberg Partners by 34.1% during the fourth quarter. First Eagle Investment Management LLC now owns 249,878 shares of the company’s stock worth $3,056,000 after buying an additional 63,575 shares in the last quarter. 39.38% of the stock is currently owned by hedge funds and other institutional investors.

About Perella Weinberg Partners

(Get Free Report)

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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