Perella Weinberg Partners (NASDAQ:PWP) Price Target Raised to $29.00

Perella Weinberg Partners (NASDAQ:PWP) had its price target hoisted by Keefe, Bruyette & Woods from $27.00 to $29.00 in a research report released on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Perella Weinberg Partners Stock Down 2.6 %

Shares of NASDAQ:PWP opened at $23.03 on Monday. The firm has a market cap of $2.03 billion, a P/E ratio of -9.72 and a beta of 1.59. Perella Weinberg Partners has a 12-month low of $11.68 and a 12-month high of $27.03. The business has a fifty day simple moving average of $24.54 and a 200 day simple moving average of $22.12.

Perella Weinberg Partners (NASDAQ:PWP) last announced its earnings results on Friday, February 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.02). Perella Weinberg Partners had a negative return on equity of 295.65% and a negative net margin of 11.09%.

Perella Weinberg Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Tuesday, February 18th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend is Tuesday, February 18th. Perella Weinberg Partners’s dividend payout ratio is currently -11.81%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PWP. Raymond James Financial Inc. bought a new position in shares of Perella Weinberg Partners in the 4th quarter worth about $18,493,000. Wellington Management Group LLP raised its position in shares of Perella Weinberg Partners by 200.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,157,605 shares of the company’s stock worth $22,353,000 after acquiring an additional 771,736 shares in the last quarter. Channing Capital Management LLC bought a new position in shares of Perella Weinberg Partners in the 4th quarter worth about $16,207,000. Franklin Resources Inc. bought a new position in shares of Perella Weinberg Partners in the 4th quarter worth about $13,586,000. Finally, Cannell & Spears LLC bought a new position in shares of Perella Weinberg Partners in the 4th quarter worth about $8,881,000. 41.07% of the stock is owned by institutional investors.

Perella Weinberg Partners Company 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.