Perella Weinberg Partners (NASDAQ:PWP) Reaches New 12-Month High After Dividend Announcement

Perella Weinberg Partners (NASDAQ:PWP) hit a new 52-week high on Monday after the company announced a dividend. The company traded as high as $25.69 and last traded at $25.3510, with a volume of 307853 shares trading hands. The stock had previously closed at $23.26.

The newly announced dividend which will be paid on Monday, March 9th. Stockholders of record on Tuesday, February 17th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.1%. Perella Weinberg Partners’s dividend payout ratio is currently 60.87%.

Wall Street Analyst Weigh In

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

Perella Weinberg Partners Stock Up 10.2%

The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 55.11 and a beta of 1.64. The company has a fifty day moving average of $19.46 and a two-hundred day moving average of $20.15.

Perella Weinberg Partners (NASDAQ:PWP) last issued its 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. The business had revenue of $219.16 million during the quarter, compared to the consensus estimate of $192.84 million. Perella Weinberg Partners had a negative return on equity of 21.97% and a net margin of 4.69%.

Institutional Trading of Perella Weinberg Partners

Institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its position in shares of Perella Weinberg Partners by 79.1% during the 1st quarter. AQR Capital Management LLC now owns 23,435 shares of the company’s stock worth $431,000 after purchasing an additional 10,350 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Perella Weinberg Partners by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,745 shares of the company’s stock valued at $566,000 after purchasing an additional 1,342 shares during the last quarter. Jane Street Group LLC purchased a new stake in Perella Weinberg Partners during the first quarter valued at about $2,577,000. KLP Kapitalforvaltning AS increased its position in Perella Weinberg Partners by 36.5% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 14,200 shares of the company’s stock worth $276,000 after purchasing an additional 3,800 shares in the last quarter. Finally, CWM LLC increased its position in shares of Perella Weinberg Partners by 162.4% in the second quarter. CWM LLC now owns 3,936 shares of the company’s stock worth $76,000 after acquiring an additional 2,436 shares in the last quarter. Hedge funds and other institutional investors own 41.07% of the company’s stock.

About Perella Weinberg Partners

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.