Grace Reksten Skaugen Sells 1,283 Shares of PJT Partners (NYSE:PJT) Stock

PJT Partners Inc. (NYSE:PJT) Director Grace Reksten Skaugen sold 1,283 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $167.67, for a total value of $215,120.61. Following the transaction, the director owned 500 shares of the company’s stock, valued at $83,835. This trade represents a 71.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

PJT Partners Price Performance

NYSE PJT opened at $168.03 on Friday. The company has a market cap of $4.34 billion, a P/E ratio of 22.99 and a beta of 0.85. The stock has a 50-day moving average of $159.53 and a two-hundred day moving average of $156.43. PJT Partners Inc. has a 1-year low of $127.73 and a 1-year high of $195.62.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.40. PJT Partners had a net margin of 10.57% and a return on equity of 32.88%. The business had revenue of $486.29 million for the quarter, compared to analysts’ expectations of $425.28 million. During the same quarter in the prior year, the company earned $1.54 earnings per share. The business’s quarterly revenue was up 19.5% on a year-over-year basis. On average, analysts anticipate that PJT Partners Inc. will post 8 EPS for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. PJT Partners’s dividend payout ratio is presently 13.68%.

Institutional Investors Weigh In On PJT Partners

Large investors have recently modified their holdings of the company. Jackson Creek Investment Advisors LLC purchased a new stake in shares of PJT Partners during the 4th quarter worth $1,373,000. Bessemer Group Inc. grew its stake in shares of PJT Partners by 1,446.5% during the fourth quarter. Bessemer Group Inc. now owns 115,000 shares of the financial services provider’s stock worth $19,229,000 after purchasing an additional 107,564 shares in the last quarter. TimesSquare Capital Management LLC increased its holdings in PJT Partners by 8.0% in the fourth quarter. TimesSquare Capital Management LLC now owns 142,496 shares of the financial services provider’s stock valued at $23,825,000 after buying an additional 10,570 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in PJT Partners by 28.8% in the fourth quarter. Kornitzer Capital Management Inc. KS now owns 35,055 shares of the financial services provider’s stock valued at $5,861,000 after buying an additional 7,830 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in PJT Partners by 28.5% in the fourth quarter. State of Alaska Department of Revenue now owns 17,010 shares of the financial services provider’s stock valued at $2,843,000 after buying an additional 3,775 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on PJT shares. Keefe, Bruyette & Woods raised their price target on shares of PJT Partners from $185.00 to $195.00 and gave the company an “outperform” rating in a research report on Wednesday. Zacks Research upgraded PJT Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. UBS Group reissued a “neutral” rating and set a $176.00 target price on shares of PJT Partners in a research note on Wednesday. Wall Street Zen upgraded PJT Partners from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $179.33.

PJT Partners Company Profile

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.