Geode Capital Management LLC Buys 34,301 Shares of Perella Weinberg Partners (NASDAQ:PWP)

Geode Capital Management LLC increased its stake in shares of Perella Weinberg Partners (NASDAQ:PWP) by 2.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,257,620 shares of the company’s stock after acquiring an additional 34,301 shares during the quarter. Geode Capital Management LLC owned approximately 1.47% of Perella Weinberg Partners worth $24,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of PWP. Barclays PLC boosted its position in Perella Weinberg Partners by 0.8% during the 3rd quarter. Barclays PLC now owns 186,387 shares of the company’s stock valued at $3,600,000 after buying an additional 1,517 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Perella Weinberg Partners during the third quarter worth about $214,000. Wellington Management Group LLP boosted its holdings in shares of Perella Weinberg Partners by 200.0% during the third quarter. Wellington Management Group LLP now owns 1,157,605 shares of the company’s stock worth $22,353,000 after purchasing an additional 771,736 shares during the period. State Street Corp grew its stake in shares of Perella Weinberg Partners by 4.5% in the third quarter. State Street Corp now owns 1,379,418 shares of the company’s stock worth $26,637,000 after purchasing an additional 59,989 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Perella Weinberg Partners by 175.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 570,719 shares of the company’s stock valued at $11,021,000 after purchasing an additional 363,331 shares during the period. 41.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Perella Weinberg Partners

In related news, President Dietrich Becker sold 442,889 shares of Perella Weinberg Partners stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total transaction of $10,841,922.72. Following the completion of the transaction, the president now directly owns 379,140 shares of the company’s stock, valued at $9,281,347.20. This trade represents a 53.88 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Bednar sold 300,579 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total transaction of $7,358,173.92. Following the completion of the sale, the chief executive officer now owns 566,386 shares in the company, valued at approximately $13,865,129.28. This trade represents a 34.67 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 43.53% of the company’s stock.

Analysts Set New Price Targets

Separately, JMP Securities increased their price objective on Perella Weinberg Partners from $22.00 to $26.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th.

Perella Weinberg Partners Trading Down 2.4 %

Shares of Perella Weinberg Partners stock opened at $24.01 on Friday. Perella Weinberg Partners has a 12-month low of $10.73 and a 12-month high of $26.62. The company has a market cap of $2.12 billion, a P/E ratio of -10.13 and a beta of 1.57. The company’s fifty day simple moving average is $23.94 and its two-hundred day simple moving average is $20.15.

Perella Weinberg Partners (NASDAQ:PWP) last announced its earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.14. Perella Weinberg Partners had a negative net margin of 11.09% and a negative return on equity of 295.65%. The firm had revenue of $278.20 million for the quarter, compared to analyst estimates of $196.42 million. During the same quarter in the previous year, the firm posted $0.12 EPS. The company’s revenue for the quarter was up 100.1% compared to the same quarter last year.

Perella Weinberg Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.17%. Perella Weinberg Partners’s dividend payout ratio (DPR) is -11.81%.

About Perella Weinberg Partners

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.