UBS Group Cuts PJT Partners (NYSE:PJT) Price Target to $151.00

PJT Partners (NYSE:PJT) had its price target lowered by UBS Group from $180.00 to $151.00 in a research note published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

PJT has been the topic of several other reports. Wolfe Research reiterated an “underperform” rating and issued a $150.00 price objective on shares of PJT Partners in a research note on Wednesday, January 7th. Keefe, Bruyette & Woods raised their target price on PJT Partners from $186.00 to $188.00 and gave the stock a “market perform” rating in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PJT Partners in a research note on Thursday, January 22nd. Zacks Research cut PJT Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Wall Street Zen lowered PJT Partners from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. One 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 company’s stock. Based on data from MarketBeat, PJT Partners has an average rating of “Hold” and an average target price of $174.67.

PJT Partners Stock Performance

NYSE:PJT opened at $129.08 on Thursday. The company has a 50-day moving average of $163.32 and a 200-day moving average of $170.12. PJT Partners has a 52 week low of $119.76 and a 52 week high of $195.62. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 19.44 and a beta of 0.85.

PJT Partners (NYSE:PJT) last posted its earnings results on Tuesday, February 3rd. The financial services provider reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.14. PJT Partners had a net margin of 10.51% and a return on equity of 31.69%. The business had revenue of $535.16 million for the quarter, compared to analysts’ expectations of $533.32 million. During the same quarter in the previous year, the firm posted $1.90 earnings per share. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. Sell-side analysts forecast that PJT Partners will post 6.2 EPS for the current year.

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be given 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 0.8%. PJT Partners’s dividend payout ratio is 15.06%.

Institutional Investors Weigh In On PJT Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its position in shares of PJT Partners by 50.8% during the third quarter. CWM LLC now owns 181 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 61 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of PJT Partners in the third quarter valued at approximately $33,000. Salomon & Ludwin LLC acquired a new stake in shares of PJT Partners in the third quarter valued at approximately $41,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in PJT Partners by 75.9% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 285 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 123 shares during the last quarter. Finally, Allworth Financial LP raised its position in PJT Partners by 85.8% in the 4th quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 133 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

About PJT Partners

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.