Legal & General Group Plc Increases Stock Position in PJT Partners Inc. $PJT

Legal & General Group Plc grew its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 3.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 66,974 shares of the financial services provider’s stock after buying an additional 1,998 shares during the period. Legal & General Group Plc’s holdings in PJT Partners were worth $11,051,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of PJT. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of PJT Partners in the first quarter valued at approximately $45,000. Quarry LP purchased a new position in PJT Partners in the first quarter worth $45,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in PJT Partners by 75.9% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 285 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 123 shares during the period. SouthState Corp boosted its position in shares of PJT Partners by 126.7% during the 1st quarter. SouthState Corp now owns 544 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 304 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in shares of PJT Partners by 1,082.8% during the 1st quarter. Russell Investments Group Ltd. now owns 686 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 628 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PJT has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of PJT Partners from $180.00 to $182.00 and gave the company a “market perform” rating in a research note on Wednesday, November 5th. Zacks Research upgraded shares of PJT Partners from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of PJT Partners in a research note on Wednesday, October 8th. BMO Capital Markets assumed coverage on PJT Partners in a research note on Friday, October 3rd. They issued an “outperform” rating and a $205.00 price objective for the company. Finally, Evercore ISI set a $180.00 target price on PJT Partners in a research report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $185.50.

PJT Partners Trading Up 0.0%

Shares of PJT stock opened at $168.01 on Monday. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 25.85 and a beta of 0.85. The firm has a 50-day moving average price of $172.69 and a 200 day moving average price of $171.11. PJT Partners Inc. has a twelve month low of $119.76 and a twelve month high of $190.27.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.61. The business had revenue of $447.09 million during the quarter, compared to the consensus estimate of $386.76 million. PJT Partners had a net margin of 10.75% and a return on equity of 29.66%. As a group, research analysts predict that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, December 3rd. PJT Partners’s payout ratio is presently 15.38%.

PJT Partners 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.