PJT Partners Inc. (NYSE:PJT – Get Free Report) has been assigned an average rating of “Hold” from the seven brokerages that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $177.50.
PJT has been the topic of a number of recent research reports. Zacks Research raised shares of PJT Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. BMO Capital Markets lifted their price target on shares of PJT Partners from $183.00 to $194.00 and gave the stock an “outperform” rating in a research note on Monday, August 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of PJT Partners in a report on Wednesday, August 26th. UBS Group reissued a “neutral” rating and issued a $176.00 price objective on shares of PJT Partners in a research report on Wednesday, July 29th. Finally, Wall Street Zen downgraded PJT Partners from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th.
View Our Latest Stock Analysis on PJT Partners
PJT Partners Stock Down 0.7%
PJT Partners (NYSE:PJT – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.40. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%.The firm had revenue of $486.29 million during the quarter, compared to the consensus estimate of $425.28 million. During the same quarter in the previous year, the business earned $1.54 earnings per share. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, analysts anticipate that PJT Partners will post 8 earnings per share for the current fiscal year.
PJT Partners Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, September 2nd. PJT Partners’s dividend payout ratio is 13.68%.
Insider Activity at PJT Partners
In related news, Director Kievdi Cornwell sold 7,845 shares of PJT Partners stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $173.48, for a total value of $1,360,950.60. Following the completion of the transaction, the director directly owned 18,865 shares in the company, valued at approximately $3,272,700.20. This trade represents a 29.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director James Costos sold 1,723 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $175.00, for a total value of $301,525.00. Following the completion of the sale, the director directly owned 11,289 shares of the company’s stock, valued at approximately $1,975,575. This represents a 13.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 11,951 shares of company stock valued at $2,061,681 in the last 90 days. 10.98% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the company. Jackson Creek Investment Advisors LLC bought a new position in shares of PJT Partners during the 4th quarter valued at about $1,373,000. California State Teachers Retirement System lifted its holdings in shares of PJT Partners by 27.3% during the first quarter. California State Teachers Retirement System now owns 27,881 shares of the financial services provider’s stock valued at $3,896,000 after purchasing an additional 5,980 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of PJT Partners by 331.0% during the first quarter. Sei Investments Co. now owns 57,283 shares of the financial services provider’s stock valued at $8,004,000 after purchasing an additional 43,993 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of PJT Partners in the 1st quarter valued at $6,665,000. Finally, Grandeur Peak Global Advisors LLC boosted its position in shares of PJT Partners by 12.0% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 57,926 shares of the financial services provider’s stock valued at $8,743,000 after purchasing an additional 6,216 shares during the period. Institutional investors own 89.23% of the company’s stock.
PJT Partners Company Profile
PJT Partners, Inc is a global advisory-focused investment banking firm that provides strategic and financial advice to corporations, institutions, financial sponsors and governments. Its services include mergers and acquisitions, strategic planning, capital structure advice, capital raising, shareholder engagement and other complex financial matters.
The company operates through several specialized businesses, including strategic advisory, restructuring and special situations, private capital advisory, and shareholder advisory.
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