Alps Advisors Inc. Acquires 13,954 Shares of PJT Partners Inc. $PJT

Alps Advisors Inc. boosted its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 536.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 16,556 shares of the financial services provider’s stock after acquiring an additional 13,954 shares during the quarter. Alps Advisors Inc.’s holdings in PJT Partners were worth $2,942,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. EFG Asset Management North America Corp. purchased a new position in PJT Partners in the third quarter worth $1,256,000. Mutual of America Capital Management LLC boosted its position in shares of PJT Partners by 19.1% in the 3rd quarter. Mutual of America Capital Management LLC now owns 78,321 shares of the financial services provider’s stock worth $13,920,000 after purchasing an additional 12,537 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in PJT Partners by 17.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 208,264 shares of the financial services provider’s stock worth $37,015,000 after buying an additional 31,594 shares during the last quarter. Cresset Asset Management LLC grew its stake in PJT Partners by 105.4% during the 2nd quarter. Cresset Asset Management LLC now owns 21,536 shares of the financial services provider’s stock worth $3,554,000 after buying an additional 11,053 shares during the last quarter. Finally, Congress Asset Management Co. increased its position in PJT Partners by 5.4% during the 3rd quarter. Congress Asset Management Co. now owns 531,378 shares of the financial services provider’s stock valued at $94,442,000 after buying an additional 27,232 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Trading Down 0.0%

Shares of NYSE:PJT opened at $162.43 on Tuesday. PJT Partners Inc. has a twelve month low of $119.76 and a twelve month high of $195.62. The company has a market cap of $3.95 billion, a PE ratio of 24.46 and a beta of 0.82. The company’s 50 day moving average is $174.26 and its 200 day moving average is $175.43.

PJT Partners (NYSE:PJT) last released its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.41 by $0.14. The business had revenue of $535.16 million for the quarter, compared to the consensus estimate of $533.32 million. PJT Partners had a net margin of 10.51% and a return on equity of 32.98%. The business’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.90 EPS. Equities research analysts predict that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be issued 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, March 4th. PJT Partners’s dividend payout ratio is presently 15.06%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PJT. UBS Group started coverage on PJT Partners in a report on Thursday, December 11th. They issued a “neutral” rating and a $180.00 price target for the company. Evercore set a $180.00 target price on shares of PJT Partners in a research note on Monday, October 13th. Zacks Research downgraded shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Wall Street Zen raised shares of PJT Partners from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Wolfe Research reissued an “underperform” rating and set a $150.00 price objective on shares of PJT Partners in a report on Wednesday, January 7th. One analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $179.50.

PJT Partners 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.