PJT Partners Inc. $PJT Shares Bought by Wasatch Advisors LP

Wasatch Advisors LP grew its stake in PJT Partners Inc. (NYSE:PJT) by 40.4% during the 1st quarter, HoldingsChannel reports. The firm owned 824,537 shares of the financial services provider’s stock after buying an additional 237,428 shares during the quarter. Wasatch Advisors LP’s holdings in PJT Partners were worth $115,204,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its holdings in shares of PJT Partners by 1.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 5,563 shares of the financial services provider’s stock valued at $930,000 after purchasing an additional 64 shares in the last quarter. Crestwood Advisors Group LLC lifted its stake in shares of PJT Partners by 0.5% in the 4th quarter. Crestwood Advisors Group LLC now owns 14,339 shares of the financial services provider’s stock valued at $2,397,000 after purchasing an additional 66 shares during the period. Maryland State Retirement & Pension System lifted its stake in shares of PJT Partners by 1.9% in the 4th quarter. Maryland State Retirement & Pension System now owns 3,561 shares of the financial services provider’s stock valued at $595,000 after purchasing an additional 67 shares during the period. New Age Alpha Advisors LLC boosted its holdings in PJT Partners by 6.9% during the fourth quarter. New Age Alpha Advisors LLC now owns 1,203 shares of the financial services provider’s stock worth $201,000 after buying an additional 78 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in PJT Partners by 1.4% during the fourth quarter. HighTower Advisors LLC now owns 5,661 shares of the financial services provider’s stock worth $946,000 after buying an additional 78 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Stock Down 0.4%

Shares of NYSE PJT opened at $151.76 on Friday. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 22.12 and a beta of 0.85. The company’s 50-day simple moving average is $155.45 and its 200-day simple moving average is $158.04. PJT Partners Inc. has a 52-week low of $127.73 and a 52-week high of $195.62.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.03. The firm had revenue of $418.20 million during the quarter, compared to the consensus estimate of $409.38 million. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 EPS. Equities research analysts anticipate that PJT Partners Inc. will post 7.5 EPS for the current fiscal year.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, June 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. PJT Partners’s dividend payout ratio (DPR) is 14.58%.

Analysts Set New Price Targets

PJT has been the topic of several analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of PJT Partners in a research report on Friday, May 29th. Wall Street Zen lowered shares of PJT Partners from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. UBS Group raised their target price on PJT Partners from $152.00 to $160.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. The Goldman Sachs Group upgraded PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Wednesday, April 1st. Finally, Zacks Research cut PJT Partners from a “hold” rating to a “strong sell” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, PJT Partners presently has an average rating of “Hold” and an average target price of $173.33.

Insiders Place Their Bets

In other news, CFO Helen T. Meates sold 8,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $153.19, for a total value of $1,225,520.00. Following the completion of the sale, the chief financial officer owned 58,466 shares of the company’s stock, valued at $8,956,406.54. This represents a 12.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel David Adam Travin sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total transaction of $457,290.00. Following the sale, the general counsel owned 2,052 shares of the company’s stock, valued at $312,786.36. This represents a 59.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.98% of the stock is owned by company insiders.

PJT Partners Company 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.