Thornburg Investment Management Inc. Increases Stake in PJT Partners Inc. (NYSE:PJT)

Thornburg Investment Management Inc. boosted its stake in shares of PJT Partners Inc. (NYSE:PJT) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,724 shares of the financial services provider’s stock after purchasing an additional 356 shares during the period. Thornburg Investment Management Inc. owned approximately 0.28% of PJT Partners worth $10,530,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PJT. Principal Securities Inc. lifted its stake in shares of PJT Partners by 385.4% during the fourth quarter. Principal Securities Inc. now owns 199 shares of the financial services provider’s stock worth $31,000 after buying an additional 158 shares during the period. CIBC Private Wealth Group LLC raised its stake in PJT Partners by 112.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 146 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in PJT Partners by 51.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 176 shares during the period. KBC Group NV grew its stake in PJT Partners by 25.4% during the 4th quarter. KBC Group NV now owns 1,007 shares of the financial services provider’s stock valued at $159,000 after purchasing an additional 204 shares during the last quarter. Finally, Seneca House Advisors acquired a new position in shares of PJT Partners in the fourth quarter valued at about $202,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods lifted their target price on PJT Partners from $152.00 to $161.00 and gave the stock a “market perform” rating in a report on Monday, May 12th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $154.50.

Insiders Place Their Bets

In related news, General Counsel David Adam Travin sold 5,000 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $141.74, for a total value of $708,700.00. Following the completion of the transaction, the general counsel now directly owns 2,288 shares in the company, valued at $324,301.12. The trade was a 68.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 11.75% of the company’s stock.

PJT Partners Price Performance

NYSE PJT opened at $150.67 on Friday. PJT Partners Inc. has a 1 year low of $99.77 and a 1 year high of $190.28. The company has a market capitalization of $3.51 billion, a PE ratio of 30.75 and a beta of 0.76. The company has a fifty day moving average of $138.21 and a 200 day moving average of $152.70.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Tuesday, April 29th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.11. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The business had revenue of $324.50 million during the quarter, compared to analysts’ expectations of $361.26 million. During the same quarter in the previous year, the firm posted $0.98 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a $0.25 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.00 annualized dividend and a yield of 0.66%. PJT Partners’s dividend payout ratio is presently 17.64%.

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.