Envestnet Asset Management Inc. Grows Stock Holdings in Perella Weinberg Partners $PWP

Envestnet Asset Management Inc. lifted its stake in shares of Perella Weinberg Partners (NASDAQ:PWP) by 345.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 105,312 shares of the company’s stock after acquiring an additional 81,648 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.12% of Perella Weinberg Partners worth $2,245,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. grew its stake in Perella Weinberg Partners by 73.5% in the second quarter. Adage Capital Partners GP L.L.C. now owns 3,136,484 shares of the company’s stock worth $60,911,000 after purchasing an additional 1,328,312 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Perella Weinberg Partners by 79.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,575,063 shares of the company’s stock worth $30,588,000 after buying an additional 698,021 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Perella Weinberg Partners by 10.9% during the second quarter. Geode Capital Management LLC now owns 1,490,650 shares of the company’s stock valued at $28,952,000 after buying an additional 146,352 shares during the period. Westwood Holdings Group Inc. bought a new stake in shares of Perella Weinberg Partners in the second quarter valued at about $28,019,000. Finally, Walleye Capital LLC raised its holdings in shares of Perella Weinberg Partners by 82.7% in the second quarter. Walleye Capital LLC now owns 1,372,866 shares of the company’s stock valued at $26,661,000 after acquiring an additional 621,570 shares in the last quarter. Hedge funds and other institutional investors own 41.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PWP shares. Keefe, Bruyette & Woods boosted their price target on shares of Perella Weinberg Partners from $20.00 to $23.00 and gave the company a “market perform” rating in a report on Monday, February 9th. Wall Street Zen raised shares of Perella Weinberg Partners from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. The Goldman Sachs Group upped their target price on Perella Weinberg Partners from $19.00 to $21.50 and gave the stock a “sell” rating in a report on Monday, February 9th. Wolfe Research set a $21.00 target price on Perella Weinberg Partners in a research report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Perella Weinberg Partners in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Perella Weinberg Partners has an average rating of “Hold” and an average price target of $23.63.

Perella Weinberg Partners Stock Down 5.3%

PWP stock opened at $18.51 on Friday. The stock has a market capitalization of $1.64 billion, a PE ratio of 40.24 and a beta of 1.64. Perella Weinberg Partners has a 52 week low of $14.12 and a 52 week high of $25.92. The firm has a 50 day moving average of $20.34 and a 200 day moving average of $20.13.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings results on Friday, February 6th. The company reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. Perella Weinberg Partners had a net margin of 4.69% and a negative return on equity of 21.97%. The business had revenue of $219.16 million during the quarter, compared to analysts’ expectations of $192.84 million.

Perella Weinberg Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 9th. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.28 dividend on an annualized basis and a yield of 1.5%. Perella Weinberg Partners’s payout ratio is currently 60.87%.

Perella Weinberg Partners Profile

Perella Weinberg Partners L.P. is a global, partner-led advisory firm specializing in strategic and financial counsel. Founded in 2006 by Joseph R. Perella and Peter Weinberg—both veterans of leading Wall Street institutions—the firm delivers independent advice on mergers and acquisitions, financing, restructuring and capital markets. As an independent entity, it emphasizes senior banker involvement throughout every transaction, ensuring clients benefit from depth of experience and continuity of service.

The firm’s core offerings encompass M&A advisory, debt and equity financing, corporate restructuring and capital markets solutions.