76,264 Shares in Perella Weinberg Partners $PWP Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new position in Perella Weinberg Partners (NASDAQ:PWP) during the second quarter, HoldingsChannel reports. The fund purchased 76,264 shares of the company’s stock, valued at approximately $1,217,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new stake in shares of Perella Weinberg Partners during the fourth quarter valued at approximately $45,000. Kemnay Advisory Services Inc. bought a new stake in Perella Weinberg Partners in the 4th quarter valued at $86,000. Tower Research Capital LLC TRC lifted its stake in Perella Weinberg Partners by 460.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company’s stock worth $100,000 after purchasing an additional 4,232 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Perella Weinberg Partners by 24.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,852 shares of the company’s stock worth $124,000 after purchasing an additional 1,338 shares in the last quarter. Finally, Alpine Global Management LLC bought a new position in shares of Perella Weinberg Partners during the 4th quarter valued at about $181,000. 41.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Andrew Bednar sold 77,753 shares of Perella Weinberg Partners stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $17.41, for a total transaction of $1,353,679.73. Following the completion of the transaction, the chief executive officer directly owned 1,061,260 shares of the company’s stock, valued at approximately $18,476,536.60. The trade was a 6.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 235,697 shares of company stock valued at $4,080,379. 26.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PWP has been the topic of a number of research analyst reports. Wall Street Zen upgraded Perella Weinberg Partners from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $21.00 price objective (up from $19.00) on shares of Perella Weinberg Partners in a research note on Monday, August 3rd. The Goldman Sachs Group increased their target price on Perella Weinberg Partners from $14.50 to $16.00 and gave the company a “sell” rating in a research report on Monday, August 3rd. Finally, Weiss Ratings cut shares of Perella Weinberg Partners from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 19th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.00.

Perella Weinberg Partners Price Performance

Shares of NASDAQ PWP opened at $16.58 on Wednesday. Perella Weinberg Partners has a 1-year low of $14.11 and a 1-year high of $25.92. The business’s 50 day moving average is $16.38 and its two-hundred day moving average is $17.49. The stock has a market capitalization of $1.56 billion, a P/E ratio of 63.77 and a beta of 1.62.

Perella Weinberg Partners (NASDAQ:PWP) last announced its earnings results on Friday, July 31st. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.14. Perella Weinberg Partners had a negative return on equity of 35.84% and a net margin of 3.19%.The firm had revenue of $156.53 million during the quarter, compared to analysts’ expectations of $144.76 million.

Perella Weinberg Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Friday, August 28th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, August 28th. This represents a $0.28 annualized dividend and a dividend yield of 1.7%. Perella Weinberg Partners’s dividend payout ratio is currently 107.69%.

Perella Weinberg Partners Company 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.