Perella Weinberg Partners (NASDAQ:PWP) Shareholders to Collect $0.07 Quarterly Dividend

Perella Weinberg Partners (NASDAQ:PWP) declared a quarterly dividend on Thursday, October 29th. Investors of record on Tuesday, November 24th will be given a dividend of $0.07 per share on Tuesday, December 8th. This represents a $0.28 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, November 24th.

Perella Weinberg Partners has a dividend payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings.

Perella Weinberg Partners Price Performance

Shares of PWP opened at $14.00 on Friday. The company has a market capitalization of $1.32 billion, a PE ratio of 53.85 and a beta of 1.63. Perella Weinberg Partners has a one year low of $12.13 and a one year high of $25.92. The company’s fifty day moving average price is $14.79 and its 200 day moving average price is $17.45.

Perella Weinberg Partners (NASDAQ:PWP) last released its earnings results on Thursday, October 29th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.22. The firm had revenue of $251.37 million during the quarter, compared to analyst estimates of $172.82 million. Perella Weinberg Partners had a net margin of 3.19% and a negative return on equity of 35.84%.

Insider Activity at Perella Weinberg Partners

In related news, CEO Andrew Bednar sold 80,045 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $17.17, for a total value of $1,374,372.65. Following the completion of the sale, the chief executive officer owned 1,139,013 shares in the company, valued at approximately $19,556,853.21. This trade represents a 6.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 235,697 shares of company stock worth $4,080,379 over the last three months. 26.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Perella Weinberg Partners

Large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in Perella Weinberg Partners by 32.2% during the second quarter. Wellington Management Group LLP now owns 5,189,199 shares of the company’s stock worth $82,820,000 after acquiring an additional 1,263,345 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Perella Weinberg Partners by 41.6% in the 1st quarter. Bank of America Corp DE now owns 1,316,482 shares of the company’s stock valued at $23,907,000 after purchasing an additional 386,473 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Perella Weinberg Partners by 151.2% in the 1st quarter. Sei Investments Co. now owns 610,588 shares of the company’s stock valued at $11,088,000 after purchasing an additional 367,525 shares in the last quarter. Ranger Investment Management L.P. acquired a new stake in shares of Perella Weinberg Partners in the 2nd quarter valued at $5,139,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Perella Weinberg Partners by 45.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 852,987 shares of the company’s stock worth $15,488,000 after purchasing an additional 267,859 shares during the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock.

Perella Weinberg Partners Company Profile

Perella Weinberg Partners (NASDAQ: PWP) is an independent investment banking and financial services firm that provides strategic and financial advice to corporations, financial institutions, governments, and other organizations. The firm focuses on complex, high-value transactions and situations that require specialized advice and senior-level expertise.

Its services include mergers and acquisitions, strategic transactions, financial restructurings, capital markets advisory, and private capital advisory.