Raymond James Financial Inc. Invests $89.19 Million in PJT Partners Inc. (NYSE:PJT)

Raymond James Financial Inc. purchased a new position in shares of PJT Partners Inc. (NYSE:PJT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 565,184 shares of the financial services provider’s stock, valued at approximately $89,192,000. Raymond James Financial Inc. owned approximately 2.38% of PJT Partners as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PJT. New York State Teachers Retirement System grew its stake in shares of PJT Partners by 0.9% during the 3rd quarter. New York State Teachers Retirement System now owns 10,688 shares of the financial services provider’s stock worth $1,425,000 after acquiring an additional 100 shares in the last quarter. Amalgamated Bank grew its stake in shares of PJT Partners by 3.1% during the 3rd quarter. Amalgamated Bank now owns 7,015 shares of the financial services provider’s stock worth $935,000 after acquiring an additional 214 shares in the last quarter. Atria Investments Inc grew its stake in shares of PJT Partners by 5.9% during the 3rd quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider’s stock worth $342,000 after acquiring an additional 142 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of PJT Partners in the 3rd quarter valued at approximately $262,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of PJT Partners in the 3rd quarter valued at approximately $453,000. 89.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PJT has been the subject of several recent analyst reports. JMP Securities downgraded PJT Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 13th. UBS Group raised PJT Partners from a “sell” rating to a “neutral” rating and increased their price objective for the company from $130.00 to $175.00 in a report on Friday, December 6th. Keefe, Bruyette & Woods increased their price objective on PJT Partners from $152.00 to $177.00 and gave the company a “market perform” rating in a report on Wednesday, February 5th. Finally, Citizens Jmp downgraded PJT Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, PJT Partners currently has an average rating of “Hold” and a consensus price target of $158.50.

PJT Partners Price Performance

Shares of PJT Partners stock opened at $148.73 on Monday. The business has a fifty day simple moving average of $162.58 and a two-hundred day simple moving average of $150.90. PJT Partners Inc. has a 1 year low of $88.51 and a 1 year high of $190.27. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of 30.35 and a beta of 0.68.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $384.64 million. During the same quarter last year, the firm posted $0.96 EPS. The company’s quarterly revenue was up 45.3% on a year-over-year basis. As a group, equities analysts anticipate that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.67%. The ex-dividend date is Wednesday, March 5th. PJT Partners’s dividend payout ratio is 20.41%.

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.