PJT Partners Inc. (NYSE:PJT) Given Average Recommendation of “Hold” by Brokerages

Shares of PJT Partners Inc. (NYSE:PJT) have received an average recommendation of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $173.3333.

PJT has been the topic of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on PJT Partners from $166.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. The Goldman Sachs Group raised PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 target price on the stock in a research note on Wednesday, April 1st. Wall Street Zen lowered PJT Partners from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a research note on Friday, May 29th. Finally, Zacks Research lowered PJT Partners from a “hold” rating to a “strong sell” rating in a research note on Friday, May 1st.

PJT Partners Price Performance

Shares of NYSE:PJT opened at $161.72 on Wednesday. PJT Partners has a 12 month low of $127.73 and a 12 month high of $195.62. The business’s 50 day simple moving average is $153.39 and its 200-day simple moving average is $159.18. The firm has a market capitalization of $4.18 billion, a price-to-earnings ratio of 23.57 and a beta of 0.85.

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

PJT Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. PJT Partners’s dividend payout ratio is presently 14.58%.

Insider Buying and Selling at PJT Partners

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in PJT Partners by 28.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 110,454 shares of the financial services provider’s stock valued at $19,631,000 after acquiring an additional 24,502 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of PJT Partners by 1,446.5% during the 4th quarter. Bessemer Group Inc. now owns 115,000 shares of the financial services provider’s stock worth $19,229,000 after buying an additional 107,564 shares during the last quarter. Azora Capital LP acquired a new stake in shares of PJT Partners during the 3rd quarter worth $40,061,000. Alps Advisors Inc. increased its holdings in shares of PJT Partners by 536.3% during the 3rd quarter. Alps Advisors Inc. now owns 16,556 shares of the financial services provider’s stock worth $2,942,000 after buying an additional 13,954 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS increased its holdings in shares of PJT Partners by 28.8% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 35,055 shares of the financial services provider’s stock worth $5,861,000 after buying an additional 7,830 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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.