Kingsview Wealth Management LLC Buys New Shares in Perella Weinberg Partners (NASDAQ:PWP)

Kingsview Wealth Management LLC bought a new position in shares of Perella Weinberg Partners (NASDAQ:PWP) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 96,184 shares of the company’s stock, valued at approximately $2,293,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Perella Weinberg Partners by 30.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,167 shares of the company’s stock worth $328,000 after acquiring an additional 4,697 shares during the period. SG Americas Securities LLC bought a new position in Perella Weinberg Partners during the third quarter worth $406,000. US Bancorp DE acquired a new position in shares of Perella Weinberg Partners in the third quarter valued at $325,000. Harbor Capital Advisors Inc. lifted its stake in shares of Perella Weinberg Partners by 72.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 49,728 shares of the company’s stock worth $960,000 after buying an additional 20,923 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in shares of Perella Weinberg Partners by 14.3% during the third quarter. Royce & Associates LP now owns 1,179,111 shares of the company’s stock worth $22,769,000 after acquiring an additional 147,424 shares during the period. 41.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Keefe, Bruyette & Woods upped their price objective on Perella Weinberg Partners from $27.00 to $29.00 and gave the company an “outperform” rating in a report on Monday.

Perella Weinberg Partners Stock Performance

NASDAQ:PWP opened at $24.26 on Tuesday. 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 $24.62 and its 200 day simple moving average is $22.08. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of -10.24 and a beta of 1.59.

Perella Weinberg Partners (NASDAQ:PWP) last announced its earnings results on Friday, February 7th. The company reported $0.26 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.28 annualized dividend and a yield of 1.15%. Perella Weinberg Partners’s dividend payout ratio is presently -11.81%.

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.