JPMorgan Chase & Co. Acquires 144,222 Shares of Perella Weinberg Partners (NASDAQ:PWP)

JPMorgan Chase & Co. boosted its holdings in Perella Weinberg Partners (NASDAQ:PWP) by 49.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 435,922 shares of the company’s stock after purchasing an additional 144,222 shares during the period. JPMorgan Chase & Co. owned approximately 0.49% of Perella Weinberg Partners worth $8,418,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in shares of Perella Weinberg Partners by 197.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 434,005 shares of the company’s stock valued at $8,381,000 after acquiring an additional 288,186 shares during the last quarter. Westwood Holdings Group Inc. bought a new position in shares of Perella Weinberg Partners during the second quarter valued at about $35,715,000. Geode Capital Management LLC raised its stake in shares of Perella Weinberg Partners by 2.8% during the third quarter. Geode Capital Management LLC now owns 1,257,620 shares of the company’s stock valued at $24,289,000 after acquiring an additional 34,301 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Perella Weinberg Partners by 72.6% during the third quarter. Harbor Capital Advisors Inc. now owns 49,728 shares of the company’s stock valued at $960,000 after acquiring an additional 20,923 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Perella Weinberg Partners by 39.1% during the second quarter. Bank of New York Mellon Corp now owns 166,998 shares of the company’s stock valued at $2,714,000 after acquiring an additional 46,926 shares during the last quarter. 41.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, JMP Securities upped their price objective on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th.

Insiders Place Their Bets

In other news, President Dietrich Becker sold 442,889 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total value of $10,841,922.72. Following the transaction, the president now owns 379,140 shares in the company, valued at approximately $9,281,347.20. This represents a 53.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Andrew Bednar sold 300,579 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 566,386 shares in the company, valued at approximately $13,865,129.28. This 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.

Perella Weinberg Partners Price Performance

Shares of NASDAQ PWP opened at $22.17 on Tuesday. Perella Weinberg Partners has a 1 year low of $10.73 and a 1 year high of $26.62. The company’s 50-day moving average is $24.49 and its 200 day moving average is $20.90. The stock has a market capitalization of $1.95 billion, a P/E ratio of -9.35 and a beta of 1.58.

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

Perella Weinberg Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date was Wednesday, December 4th. Perella Weinberg Partners’s dividend payout ratio (DPR) is presently -11.81%.

Perella Weinberg Partners 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.