PJT Partners Inc. (NYSE:PJT) Stock Has Average Target Price of $168.33

Shares of PJT Partners Inc. (NYSE:PJT) have received a consensus recommendation of “Hold” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $168.33.

PJT has been the topic of a number of recent research reports. Capital One Financial set a $160.00 target price on PJT Partners in a report on Tuesday, October 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a report on Wednesday, August 26th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $159.00 price objective (down from $195.00) on shares of PJT Partners in a research report on Wednesday, October 7th. UBS Group lowered their price objective on shares of PJT Partners from $176.00 to $165.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Finally, Wall Street Zen cut shares of PJT Partners from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th.

Insider Buying and Selling at PJT Partners

In related news, Director Kievdi Cornwell sold 7,845 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $173.48, for a total value of $1,360,950.60. Following the transaction, the director owned 18,865 shares in the company, valued at approximately $3,272,700.20. This trade represents a 29.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Grace Skaugen sold 1,283 shares of PJT Partners stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $167.67, for a total value of $215,120.61. Following the sale, the director owned 500 shares in the company, valued at $83,835. This represents a 71.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 11,951 shares of company stock worth $2,061,681. 10.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PJT. GK Wealth Management LLC bought a new position in shares of PJT Partners in the third quarter worth about $92,000. Congress Asset Management Co. boosted its stake in shares of PJT Partners by 0.7% during the third quarter. Congress Asset Management Co. now owns 728,580 shares of the financial services provider’s stock valued at $103,976,000 after purchasing an additional 5,106 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in shares of PJT Partners in the 2nd quarter worth approximately $412,000. Tidal Investments LLC increased its holdings in PJT Partners by 3.6% in the second quarter. Tidal Investments LLC now owns 119,193 shares of the financial services provider’s stock worth $17,991,000 after purchasing an additional 4,147 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new stake in PJT Partners in the second quarter valued at $4,604,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

PJT Partners Price Performance

Shares of PJT stock opened at $135.96 on Tuesday. The firm’s 50-day moving average is $160.88 and its two-hundred day moving average is $158.46. PJT Partners has a 12 month low of $127.73 and a 12 month high of $195.62. The company has a market capitalization of $3.48 billion, a PE ratio of 16.71 and a beta of 0.89.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.57 by $0.40. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%. The business had revenue of $486.29 million during the quarter, compared to analyst estimates of $425.28 million. During the same period last year, the business posted $1.54 earnings per share. The company’s quarterly revenue was up 19.5% on a year-over-year basis. Sell-side analysts forecast that PJT Partners will post 7.65 EPS for the current year.

PJT Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Investors of record on Wednesday, September 2nd were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 0.7%. PJT Partners’s dividend payout ratio is presently 13.68%.

About PJT Partners

PJT Partners Inc (NYSE:PJT) is a global, independent investment banking and advisory firm that provides strategic, restructuring and private capital advisory services to corporations, financial sponsors, institutional investors and other organizations.

The company advises clients on mergers and acquisitions, divestitures, strategic transactions, shareholder activism and other corporate matters. Its restructuring and capital solutions business provides advice on financial restructuring, liability management, distressed situations and related capital structure issues.