Kingsview Wealth Management LLC Acquires New Position in Perella Weinberg Partners (NASDAQ:PWP)

Kingsview Wealth Management LLC acquired a new stake in Perella Weinberg Partners (NASDAQ:PWP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 96,184 shares of the company’s stock, valued at approximately $2,293,000. Kingsview Wealth Management LLC owned about 0.11% of Perella Weinberg Partners as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of PWP. Intech Investment Management LLC acquired a new stake in shares of Perella Weinberg Partners in the 3rd quarter valued at approximately $197,000. PDT Partners LLC acquired a new stake in Perella Weinberg Partners in the third quarter worth $210,000. Y Intercept Hong Kong Ltd bought a new position in shares of Perella Weinberg Partners during the third quarter worth $214,000. US Bancorp DE bought a new position in shares of Perella Weinberg Partners during the third quarter worth $325,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Perella Weinberg Partners by 30.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,167 shares of the company’s stock valued at $328,000 after buying an additional 4,697 shares during the period. Institutional investors and hedge funds own 41.07% of the company’s stock.

Perella Weinberg Partners Stock Performance

NASDAQ PWP opened at $24.26 on Tuesday. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of -10.24 and a beta of 1.59. The business has a 50 day simple moving average of $24.62 and a 200 day simple moving average of $22.08. Perella Weinberg Partners has a 52-week low of $11.68 and a 52-week high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP) last issued its quarterly earnings data on Friday, February 7th. The company reported $0.26 earnings per share (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 Announces Dividend

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

Wall Street Analyst Weigh In

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

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.