GW&K Investment Management LLC Trims Stock Position in PJT Partners Inc. $PJT

GW&K Investment Management LLC trimmed its holdings in shares of PJT Partners Inc. (NYSE:PJT) by 50.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,736 shares of the financial services provider’s stock after selling 45,246 shares during the period. GW&K Investment Management LLC owned about 0.18% of PJT Partners worth $7,773,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. EFG Asset Management North America Corp. acquired a new position in PJT Partners in the 3rd quarter valued at about $1,256,000. Mutual of America Capital Management LLC grew its holdings in shares of PJT Partners by 19.1% during the third quarter. Mutual of America Capital Management LLC now owns 78,321 shares of the financial services provider’s stock worth $13,920,000 after buying an additional 12,537 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of PJT Partners by 17.9% during the third 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 in the last quarter. Cresset Asset Management LLC raised its position in shares of PJT Partners by 105.4% in the second quarter. Cresset Asset Management LLC now owns 21,536 shares of the financial services provider’s stock valued at $3,554,000 after buying an additional 11,053 shares during the last quarter. Finally, Congress Asset Management Co. raised its position in shares of PJT Partners by 5.4% in the third 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 during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Trading Down 1.3%

PJT stock opened at $144.10 on Friday. The company has a market capitalization of $3.50 billion, a P/E ratio of 21.70 and a beta of 0.85. The firm has a 50 day simple moving average of $166.70 and a 200-day simple moving average of $171.67. PJT Partners Inc. has a twelve month low of $119.76 and a twelve month high of $195.62.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.14. The company had revenue of $535.16 million during the quarter, compared to analyst estimates of $533.32 million. PJT Partners had a net margin of 10.51% and a return on equity of 31.69%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the business earned $1.90 EPS. On average, research analysts predict that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 4th. This represents a $1.00 annualized dividend and a yield of 0.7%. PJT Partners’s dividend payout ratio (DPR) is 15.06%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wall Street Zen downgraded PJT Partners from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group began 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. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PJT Partners in a research report on Thursday, January 22nd. Wolfe Research reaffirmed an “underperform” rating and set a $150.00 price target on shares of PJT Partners in a research note on Wednesday, January 7th. Finally, Zacks Research lowered shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.