Mirae Asset Global Investments Co. Ltd. Increases Stock Position in PJT Partners Inc. (NYSE:PJT)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in PJT Partners Inc. (NYSE:PJT) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,683 shares of the financial services provider’s stock after buying an additional 374 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in PJT Partners were worth $1,088,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Global Retirement Partners LLC grew its position in shares of PJT Partners by 61.4% in the third quarter. Global Retirement Partners LLC now owns 668 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 254 shares in the last quarter. Amplius Wealth Advisors LLC bought a new position in PJT Partners in the 4th quarter worth about $247,000. Account Management LLC purchased a new position in PJT Partners during the 3rd quarter valued at about $202,000. Handelsbanken Fonder AB bought a new stake in shares of PJT Partners during the third quarter valued at about $207,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of PJT Partners in the third quarter worth about $218,000. Institutional investors own 89.23% of the company’s stock.

Insider Activity

In related news, CFO Helen T. Meates sold 12,926 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $105.51, for a total value of $1,363,822.26. Following the completion of the sale, the chief financial officer now owns 48,821 shares in the company, valued at approximately $5,151,103.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, General Counsel David Adam Travin sold 5,000 shares of PJT Partners stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $93.21, for a total value of $466,050.00. Following the transaction, the general counsel now owns 1,541 shares in the company, valued at approximately $143,636.61. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Helen T. Meates sold 12,926 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $105.51, for a total transaction of $1,363,822.26. Following the sale, the chief financial officer now owns 48,821 shares of the company’s stock, valued at $5,151,103.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,926 shares of company stock worth $2,875,672. 10.67% of the stock is currently owned by insiders.

PJT Partners Price Performance

Shares of PJT Partners stock opened at $95.40 on Tuesday. The company has a 50 day simple moving average of $97.73 and a two-hundred day simple moving average of $92.89. The firm has a market cap of $2.28 billion, a PE ratio of 30.97 and a beta of 0.68. PJT Partners Inc. has a 1 year low of $59.61 and a 1 year high of $107.35.

PJT Partners (NYSE:PJT) last posted its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.20. The company had revenue of $328.60 million during the quarter, compared to the consensus estimate of $304.26 million. PJT Partners had a net margin of 7.09% and a return on equity of 17.44%. The firm’s revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.08 EPS. As a group, research analysts anticipate that PJT Partners Inc. will post 3.85 earnings per share for the current year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date was Tuesday, March 5th. PJT Partners’s payout ratio is currently 32.47%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PJT shares. UBS Group reaffirmed a “sell” rating and set a $75.00 price objective (down previously from $100.00) on shares of PJT Partners in a research note on Tuesday, March 26th. Wolfe Research restated an “underperform” rating and set a $89.00 price target on shares of PJT Partners in a research report on Wednesday, January 3rd. JMP Securities reiterated a “market outperform” rating and issued a $110.00 price objective on shares of PJT Partners in a research report on Tuesday, April 9th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $99.00 price objective (down previously from $108.00) on shares of PJT Partners in a research note on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $93.25.

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.