Russell Investments Group Ltd. Reduces Stock Position in Perella Weinberg Partners (NASDAQ:PWP)

Russell Investments Group Ltd. trimmed its stake in shares of Perella Weinberg Partners (NASDAQ:PWP) by 37.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 948,072 shares of the company’s stock after selling 574,106 shares during the period. Russell Investments Group Ltd. owned approximately 1.10% of Perella Weinberg Partners worth $11,595,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Perella Weinberg Partners by 3.8% during the 3rd quarter. FMR LLC now owns 5,780,259 shares of the company’s stock valued at $58,843,000 after purchasing an additional 210,342 shares during the last quarter. First Eagle Investment Management LLC purchased a new stake in Perella Weinberg Partners during the third quarter valued at approximately $1,897,000. SG Americas Securities LLC bought a new position in Perella Weinberg Partners in the fourth quarter worth approximately $137,000. Bleakley Financial Group LLC boosted its stake in shares of Perella Weinberg Partners by 15.1% during the 4th quarter. Bleakley Financial Group LLC now owns 18,572 shares of the company’s stock worth $227,000 after acquiring an additional 2,436 shares during the last quarter. Finally, Allworth Financial LP bought a new stake in shares of Perella Weinberg Partners during the 4th quarter valued at $44,000. Institutional investors own 41.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PWP has been the topic of several analyst reports. Keefe, Bruyette & Woods reiterated 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 reaffirmed a “sell” rating and set a $11.50 price target (down previously from $14.00) on shares of Perella Weinberg Partners in a report on Tuesday, January 9th. Finally, JMP Securities upped their price target on shares of Perella Weinberg Partners from $18.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 9th.

Perella Weinberg Partners Trading Down 2.1 %

NASDAQ:PWP opened at $14.72 on Monday. The stock has a 50-day moving average price of $14.40 and a 200 day moving average price of $12.53. Perella Weinberg Partners has a 12-month low of $6.80 and a 12-month high of $16.07. The stock has a market capitalization of $1.27 billion, a P/E ratio of -7.91 and a beta of 1.52.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.08 earnings per share (EPS) for the quarter. Perella Weinberg Partners had a negative net margin of 2.66% and a positive return on equity of 34.39%. The firm had revenue of $212.68 million for the quarter.

Perella Weinberg Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, May 28th. Perella Weinberg Partners’s payout ratio is currently -15.05%.

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.