Perella Weinberg Partners Declares Quarterly Dividend of $0.07 (NASDAQ:PWP)

Perella Weinberg Partners (NASDAQ:PWP) declared a quarterly dividend on Friday, November 7th. Investors of record on Monday, November 17th will be paid a dividend of 0.07 per share on Monday, December 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Monday, November 17th.

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

Perella Weinberg Partners Stock Down 4.4%

PWP stock traded down $0.83 during midday trading on Friday, reaching $18.02. 2,389,661 shares of the company’s stock traded hands, compared to its average volume of 972,687. The firm’s fifty day moving average price is $20.70 and its 200-day moving average price is $19.83. Perella Weinberg Partners has a 52 week low of $14.12 and a 52 week high of $27.03. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 21.98 and a beta of 1.63.

Perella Weinberg Partners (NASDAQ:PWP) last issued its quarterly earnings data on Friday, November 7th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The business had revenue of $164.65 million for the quarter, compared to analyst estimates of $179.83 million. Perella Weinberg Partners had a net margin of 6.57% and a negative return on equity of 26.14%.

Institutional Trading of Perella Weinberg Partners

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in Perella Weinberg Partners by 3.0% during the first quarter. Bank of New York Mellon Corp now owns 196,289 shares of the company’s stock worth $3,612,000 after acquiring an additional 5,736 shares during the period. Envestnet Asset Management Inc. grew its stake in Perella Weinberg Partners by 18.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 29,466 shares of the company’s stock valued at $542,000 after purchasing an additional 4,508 shares during the period. Banque Pictet & Cie SA purchased a new stake in shares of Perella Weinberg Partners during the 1st quarter valued at $605,000. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Perella Weinberg Partners during the 1st quarter worth $3,798,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of Perella Weinberg Partners by 402.6% in the 1st quarter. New York State Common Retirement Fund now owns 849,590 shares of the company’s stock worth $15,632,000 after buying an additional 680,563 shares during the last quarter. 41.07% of the stock is owned by hedge funds and other 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.