Eagle Asset Management Inc. Boosts Position in Perella Weinberg Partners (NASDAQ:PWP)

Eagle Asset Management Inc. boosted its stake in shares of Perella Weinberg Partners (NASDAQ:PWP) by 32.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 756,540 shares of the company’s stock after buying an additional 183,905 shares during the quarter. Eagle Asset Management Inc. owned approximately 0.88% of Perella Weinberg Partners worth $14,609,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Arizona State Retirement System lifted its stake in Perella Weinberg Partners by 15.3% in the second quarter. Arizona State Retirement System now owns 13,020 shares of the company’s stock worth $212,000 after acquiring an additional 1,724 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Perella Weinberg Partners by 16.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company’s stock valued at $174,000 after purchasing an additional 1,753 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Perella Weinberg Partners by 17.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 16,709 shares of the company’s stock valued at $272,000 after purchasing an additional 2,537 shares in the last quarter. California State Teachers Retirement System raised its stake in Perella Weinberg Partners by 6.0% in the first quarter. California State Teachers Retirement System now owns 45,448 shares of the company’s stock worth $642,000 after buying an additional 2,560 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Perella Weinberg Partners by 30.4% during the second quarter. The Manufacturers Life Insurance Company now owns 20,167 shares of the company’s stock worth $328,000 after buying an additional 4,697 shares during the period. 41.07% of the stock is owned by hedge funds and other institutional investors.

Perella Weinberg Partners Stock Down 0.5 %

NASDAQ PWP opened at $25.64 on Friday. Perella Weinberg Partners has a 52 week low of $10.73 and a 52 week high of $26.62. The company has a 50 day moving average price of $21.56 and a 200 day moving average price of $18.51. The firm has a market cap of $2.26 billion, a PE ratio of -10.82 and a beta of 1.49.

Perella Weinberg Partners (NASDAQ:PWP) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.20 by $0.14. Perella Weinberg Partners had a negative return on equity of 295.65% and a negative net margin of 11.09%. The firm had revenue of $278.20 million during the quarter, compared to analyst estimates of $196.42 million. During the same quarter in the prior year, the business posted $0.12 EPS. The business’s revenue for the quarter was up 100.1% compared to the same quarter last year.

Perella Weinberg Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.28 annualized dividend and a dividend yield of 1.09%. Perella Weinberg Partners’s dividend payout ratio (DPR) is currently -11.81%.

Insider Buying and Selling

In other Perella Weinberg Partners news, CEO Andrew Bednar sold 300,579 shares of Perella Weinberg Partners stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total transaction of $7,358,173.92. Following the completion of the sale, the chief executive officer now owns 566,386 shares of the company’s stock, valued at approximately $13,865,129.28. The trade was a 34.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Dietrich Becker sold 442,889 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value of $10,841,922.72. Following the completion of the transaction, the president now directly owns 379,140 shares in the company, valued at $9,281,347.20. This represents a 53.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 43.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, JMP Securities boosted their price target on Perella Weinberg Partners from $22.00 to $26.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th.

Perella Weinberg Partners 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.