PJT Partners Inc. $PJT Shares Purchased by Cresset Asset Management LLC

Cresset Asset Management LLC boosted its position in shares of PJT Partners Inc. (NYSE:PJT) by 105.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,536 shares of the financial services provider’s stock after acquiring an additional 11,053 shares during the quarter. Cresset Asset Management LLC’s holdings in PJT Partners were worth $3,554,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its position in shares of PJT Partners by 72.5% during the first quarter. PNC Financial Services Group Inc. now owns 892 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 375 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of PJT Partners in the first quarter valued at approximately $167,000. Townsquare Capital LLC increased its stake in PJT Partners by 21.1% during the 1st quarter. Townsquare Capital LLC now owns 49,581 shares of the financial services provider’s stock worth $6,836,000 after buying an additional 8,652 shares during the period. Sierra Summit Advisors LLC acquired a new stake in PJT Partners during the 1st quarter worth approximately $578,000. Finally, Virtu Financial LLC purchased a new position in PJT Partners in the 1st quarter valued at approximately $392,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

PJT Partners Stock Performance

NYSE:PJT opened at $175.88 on Monday. PJT Partners Inc. has a 1 year low of $119.76 and a 1 year high of $190.27. The stock has a market cap of $4.28 billion, a P/E ratio of 27.06 and a beta of 0.85. The stock has a 50-day simple moving average of $171.30 and a 200-day simple moving average of $171.81.

PJT Partners (NYSE:PJT) last issued its earnings results on Tuesday, November 4th. The financial services provider reported $1.85 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.61. The business had revenue of $447.09 million for the quarter, compared to analyst estimates of $386.76 million. PJT Partners had a return on equity of 29.66% and a net margin of 10.75%. On average, equities research analysts predict that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 17th. Stockholders of record on Wednesday, December 3rd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Wednesday, December 3rd. PJT Partners’s payout ratio is currently 15.38%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PJT shares. Zacks Research raised PJT Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Wall Street Zen raised PJT Partners from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “hold (c+)” rating on shares of PJT Partners in a report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price objective on PJT Partners from $180.00 to $182.00 and gave the company a “market perform” rating in a research note on Wednesday, November 5th. Finally, BMO Capital Markets began coverage on PJT Partners in a research report on Friday, October 3rd. They set an “outperform” rating and a $205.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, PJT Partners has an average rating of “Hold” and an average price target of $189.00.

PJT Partners Company Profile

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.