PNC Financial Services Group Inc. Sells 1,004 Shares of Perella Weinberg Partners (NASDAQ:PWP)

PNC Financial Services Group Inc. lowered its position in Perella Weinberg Partners (NASDAQ:PWP) by 14.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,927 shares of the company’s stock after selling 1,004 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Perella Weinberg Partners were worth $141,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PWP. Intech Investment Management LLC acquired a new position in shares of Perella Weinberg Partners during the third quarter valued at about $197,000. Charles Schwab Investment Management Inc. increased its stake in Perella Weinberg Partners by 197.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,005 shares of the company’s stock valued at $8,381,000 after purchasing an additional 288,186 shares in the last quarter. Algert Global LLC raised its holdings in shares of Perella Weinberg Partners by 7.2% in the third quarter. Algert Global LLC now owns 158,646 shares of the company’s stock worth $3,063,000 after buying an additional 10,621 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Perella Weinberg Partners during the third quarter worth $389,000. Finally, Quantbot Technologies LP grew its holdings in shares of Perella Weinberg Partners by 358.4% during the third quarter. Quantbot Technologies LP now owns 37,516 shares of the company’s stock valued at $724,000 after buying an additional 29,332 shares during the last quarter. 41.07% of the stock is currently owned by hedge funds and other institutional investors.

Perella Weinberg Partners Stock Performance

Perella Weinberg Partners stock opened at $20.58 on Tuesday. The company has a market capitalization of $1.79 billion, a PE ratio of -13.03 and a beta of 1.61. Perella Weinberg Partners has a fifty-two week low of $11.68 and a fifty-two week high of $27.03. The firm has a 50 day moving average price of $23.07 and a 200 day moving average price of $22.65.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings results on Friday, February 7th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). Perella Weinberg Partners had a negative net margin of 7.37% and a negative return on equity of 72.27%.

Perella Weinberg Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Tuesday, February 18th were paid a $0.07 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $0.28 annualized dividend and a dividend yield of 1.36%. Perella Weinberg Partners’s dividend payout ratio (DPR) is currently -17.72%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PWP. Keefe, Bruyette & Woods raised their target price on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the stock an “outperform” rating in a report on Monday, February 10th. The Goldman Sachs Group reduced their price objective on Perella Weinberg Partners from $23.00 to $20.00 and set a “sell” rating for the company in a research note on Friday, March 14th.

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.