PJT Partners Inc. (NYSE:PJT) Receives $173.33 Average PT from Brokerages

PJT Partners Inc. (NYSE:PJT) has been assigned an average rating of “Hold” from the seven research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $173.3333.

Several research firms have recently issued reports on PJT. Zacks Research raised PJT Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. UBS Group raised their price target on PJT Partners from $152.00 to $160.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of PJT Partners in a report on Friday, May 29th. Keefe, Bruyette & Woods upped their price objective on shares of PJT Partners from $166.00 to $175.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group upgraded shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price target on the stock in a research report on Wednesday, April 1st.

Insider Activity at PJT Partners

In related news, General Counsel David Adam Travin sold 3,000 shares of PJT Partners stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total transaction of $457,290.00. Following the completion of the transaction, the general counsel directly owned 2,052 shares of the company’s stock, valued at $312,786.36. This trade represents a 59.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Helen T. Meates sold 8,000 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $153.19, for a total transaction of $1,225,520.00. Following the sale, the chief financial officer directly owned 58,466 shares in the company, valued at $8,956,406.54. The trade was a 12.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 10.98% of the company’s stock.

Hedge Funds Weigh In On PJT Partners

Large investors have recently made changes to their positions in the business. Versant Capital Management Inc boosted its holdings in PJT Partners by 73.3% in the second quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 99 shares in the last quarter. Allworth Financial LP raised its position in shares of PJT Partners by 85.8% in the 4th quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 133 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of PJT Partners in the 1st quarter worth about $50,000. State of Wyoming bought a new position in PJT Partners in the 2nd quarter worth about $63,000. Finally, Kestra Advisory Services LLC bought a new position in PJT Partners in the 4th quarter worth about $65,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

PJT Partners Price Performance

Shares of PJT Partners stock opened at $168.97 on Friday. PJT Partners has a one year low of $127.73 and a one year high of $195.62. The business’s 50 day simple moving average is $155.81 and its two-hundred day simple moving average is $157.32. The stock has a market capitalization of $4.36 billion, a P/E ratio of 24.63 and a beta of 0.85.

PJT Partners (NYSE:PJT) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.03. The company had revenue of $418.20 million during the quarter, compared to analyst estimates of $409.38 million. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The firm’s revenue was up 28.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 EPS. Sell-side analysts expect that PJT Partners will post 7.5 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. PJT Partners’s dividend payout ratio is currently 14.58%.

About PJT Partners

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.