Vanguard Group Inc. Sells 42,181 Shares of PJT Partners Inc. $PJT

Vanguard Group Inc. lessened its stake in shares of PJT Partners Inc. (NYSE:PJT) by 1.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,512,963 shares of the financial services provider’s stock after selling 42,181 shares during the period. Vanguard Group Inc. owned 10.34% of PJT Partners worth $446,629,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of PJT. CWM LLC raised its holdings 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 valued at $32,000 after purchasing an additional 61 shares during the period. Salomon & Ludwin LLC acquired a new position in PJT Partners during the 3rd quarter worth approximately $41,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted 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 worth $47,000 after acquiring an additional 123 shares in the last quarter. State of Wyoming bought a new position in PJT Partners in the second quarter worth approximately $63,000. Finally, Federated Hermes Inc. grew its stake in PJT Partners by 307.8% in the third quarter. Federated Hermes Inc. now owns 526 shares of the financial services provider’s stock valued at $93,000 after acquiring an additional 397 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PJT. Wall Street Zen raised PJT Partners from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. UBS Group initiated coverage on shares of PJT Partners in a research report on Thursday, December 11th. They set a “neutral” rating and a $180.00 target price for the company. Keefe, Bruyette & Woods lifted their price target on PJT Partners from $186.00 to $188.00 and gave the company a “market perform” rating in a research note on Thursday, January 8th. Wolfe Research restated an “underperform” rating and issued a $150.00 target price on shares of PJT Partners in a report on Wednesday, January 7th. Finally, Zacks Research cut PJT Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $179.50.

PJT Partners Trading Down 0.6%

PJT stock opened at $149.24 on Thursday. PJT Partners Inc. has a 1-year low of $119.76 and a 1-year high of $195.62. The stock has a market cap of $3.63 billion, a P/E ratio of 22.48 and a beta of 0.82. The stock’s fifty day simple moving average is $169.91 and its two-hundred day simple moving average is $173.25.

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

PJT Partners Dividend Announcement

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 $0.25 dividend. 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 is presently 15.06%.

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.