Pinebridge Investments L.P. Invests $328,000 in PJT Partners Inc. (NYSE:PJT)

Pinebridge Investments L.P. acquired a new position in shares of PJT Partners Inc. (NYSE:PJT) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,077 shares of the financial services provider’s stock, valued at approximately $328,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its stake in shares of PJT Partners by 91.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 72,270 shares of the financial services provider’s stock valued at $9,636,000 after acquiring an additional 34,514 shares during the last quarter. Commonwealth Equity Services LLC raised its position in PJT Partners by 53.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 5,769 shares of the financial services provider’s stock valued at $910,000 after purchasing an additional 2,012 shares during the last quarter. Norges Bank acquired a new stake in shares of PJT Partners during the fourth quarter valued at about $20,269,000. Principal Financial Group Inc. grew its holdings in shares of PJT Partners by 4.2% during the fourth quarter. Principal Financial Group Inc. now owns 139,934 shares of the financial services provider’s stock worth $22,083,000 after purchasing an additional 5,644 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of PJT Partners by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 255,263 shares of the financial services provider’s stock valued at $40,283,000 after buying an additional 3,173 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

PJT Partners Trading Up 0.8 %

Shares of PJT opened at $135.76 on Tuesday. The firm’s fifty day simple moving average is $140.77 and its two-hundred day simple moving average is $152.64. PJT Partners Inc. has a 12 month low of $93.07 and a 12 month high of $190.28. The stock has a market capitalization of $3.16 billion, a P/E ratio of 27.71 and a beta of 0.77.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, February 4th. The financial services provider reported $1.90 EPS for the quarter, topping the consensus estimate of $1.19 by $0.71. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The business had revenue of $477.30 million during the quarter, compared to analysts’ expectations of $384.64 million. During the same quarter last year, the firm posted $0.96 earnings per share. The firm’s revenue was up 45.3% on a year-over-year basis. As a group, research analysts predict that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.74%. PJT Partners’s payout ratio is presently 20.41%.

Analyst Ratings Changes

Several brokerages have issued reports on PJT. Citizens Jmp cut shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. JMP Securities downgraded PJT Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 13th. Finally, Keefe, Bruyette & Woods raised their price objective on PJT Partners from $152.00 to $177.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 5th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, PJT Partners currently has a consensus rating of “Hold” and a consensus price target of $158.50.

About PJT Partners

PJT Partners Inc, an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures.