The Manufacturers Life Insurance Company Sells 449 Shares of Perella Weinberg Partners (NASDAQ:PWP)

The Manufacturers Life Insurance Company decreased its position in Perella Weinberg Partners (NASDAQ:PWP) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,718 shares of the company’s stock after selling 449 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Perella Weinberg Partners were worth $381,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Perella Weinberg Partners by 122.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,763 shares of the company’s stock valued at $159,000 after purchasing an additional 5,379 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Perella Weinberg Partners by 16.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 12,306 shares of the company’s stock valued at $174,000 after purchasing an additional 1,753 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Perella Weinberg Partners during the third quarter valued at about $197,000. Arizona State Retirement System lifted its holdings in Perella Weinberg Partners by 15.3% during the second quarter. Arizona State Retirement System now owns 13,020 shares of the company’s stock valued at $212,000 after purchasing an additional 1,724 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Perella Weinberg Partners by 17.9% during the second quarter. Oppenheimer Asset Management Inc. now owns 16,709 shares of the company’s stock valued at $272,000 after purchasing an additional 2,537 shares during the last quarter. Institutional investors own 41.07% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Perella Weinberg Partners news, President Dietrich Becker sold 442,889 shares of Perella Weinberg Partners stock in a transaction that occurred on 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 transaction, the president now directly owns 379,140 shares of the company’s stock, valued at approximately $9,281,347.20. This trade represents a 53.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andrew Bednar sold 300,579 shares of Perella Weinberg Partners stock in a transaction 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 directly owns 566,386 shares in the company, valued at approximately $13,865,129.28. The trade was a 34.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 43.53% of the stock is owned by company insiders.

Perella Weinberg Partners Stock Down 2.6 %

Shares of PWP opened at $24.57 on Monday. The business’s 50-day moving average price is $23.36 and its 200-day moving average price is $19.58. Perella Weinberg Partners has a twelve month low of $10.73 and a twelve month high of $26.62. The stock has a market cap of $2.17 billion, a PE ratio of -10.37 and a beta of 1.57.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, topping 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 revenue for the quarter was up 100.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 earnings per share.

Perella Weinberg Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.14%. The ex-dividend date of this dividend is Wednesday, December 4th. Perella Weinberg Partners’s dividend payout ratio (DPR) is -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.