Meeder Asset Management Inc. Makes New Investment in Perella Weinberg Partners (NASDAQ:PWP)

Meeder Asset Management Inc. purchased a new stake in Perella Weinberg Partners (NASDAQ:PWP) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 7,528 shares of the company’s stock, valued at approximately $179,000.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in shares of Perella Weinberg Partners by 49.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 435,922 shares of the company’s stock worth $8,418,000 after acquiring an additional 144,222 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Perella Weinberg Partners by 197.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 434,005 shares of the company’s stock valued at $8,381,000 after purchasing an additional 288,186 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Perella Weinberg Partners by 2.8% in the third quarter. Geode Capital Management LLC now owns 1,257,620 shares of the company’s stock valued at $24,289,000 after purchasing an additional 34,301 shares during the last quarter. Kings Path Partners LLC bought a new position in shares of Perella Weinberg Partners in the fourth quarter valued at about $535,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Perella Weinberg Partners by 47.6% during the 4th quarter. Bank of New York Mellon Corp now owns 190,553 shares of the company’s stock worth $4,543,000 after buying an additional 61,428 shares during the last quarter. 41.07% of the stock is currently owned by institutional investors and hedge funds.

Perella Weinberg Partners Stock Performance

NASDAQ:PWP opened at $18.40 on Tuesday. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -11.65 and a beta of 1.61. Perella Weinberg Partners has a 52 week low of $11.68 and a 52 week high of $27.03. The firm’s 50-day simple moving average is $22.52 and its 200 day simple moving average is $22.70.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings results on Friday, February 7th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). Perella Weinberg Partners had a negative net margin of 7.37% and a negative return on equity of 72.27%.

Perella Weinberg Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Tuesday, February 18th were given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Tuesday, February 18th. Perella Weinberg Partners’s payout ratio is currently -17.72%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods increased their price target on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the company an “outperform” rating in a report on Monday, February 10th. The Goldman Sachs Group lowered their target price on Perella Weinberg Partners from $23.00 to $20.00 and set a “sell” rating on the stock in a research note on Friday, March 14th.

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.