Thornburg Investment Management Inc. Trims Position in PJT Partners Inc. $PJT

Thornburg Investment Management Inc. decreased its position in shares of PJT Partners Inc. (NYSE:PJT) by 23.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 41,000 shares of the financial services provider’s stock after selling 12,597 shares during the quarter. Thornburg Investment Management Inc.’s holdings in PJT Partners were worth $7,287,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC increased its holdings in shares of PJT Partners by 50.8% during the 3rd quarter. CWM LLC now owns 181 shares of the financial services provider’s stock worth $32,000 after buying an additional 61 shares during the last quarter. M&T Bank Corp increased its stake in PJT Partners by 3.3% during the second quarter. M&T Bank Corp now owns 2,302 shares of the financial services provider’s stock worth $380,000 after acquiring an additional 74 shares during the last quarter. F m Investments LLC raised its position in PJT Partners by 0.3% in the second quarter. F m Investments LLC now owns 26,851 shares of the financial services provider’s stock valued at $4,431,000 after purchasing an additional 80 shares during the period. Linden Thomas Advisory Services LLC lifted its stake in shares of PJT Partners by 3.3% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 2,551 shares of the financial services provider’s stock valued at $453,000 after purchasing an additional 81 shares during the last quarter. Finally, Huntington National Bank raised its holdings in PJT Partners by 13.8% in the 2nd quarter. Huntington National Bank now owns 710 shares of the financial services provider’s stock valued at $117,000 after buying an additional 86 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

PJT Partners Trading Down 0.6%

PJT Partners stock opened at $149.24 on Thursday. The firm has a market capitalization of $3.63 billion, a P/E ratio of 22.48 and a beta of 0.82. PJT Partners Inc. has a twelve month low of $119.76 and a twelve month high of $195.62. The stock’s fifty day simple moving average is $169.91 and its 200-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 the consensus estimate of $2.41 by $0.14. PJT Partners had a return on equity of 32.98% and a net margin of 10.51%.The company had revenue of $535.16 million for the quarter, compared to the consensus estimate of $533.32 million. During the same quarter in the prior year, the business earned $1.90 EPS. PJT Partners’s revenue was up 12.1% on a year-over-year basis. Sell-side analysts predict that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. PJT Partners’s dividend payout ratio is currently 15.06%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of PJT Partners from $186.00 to $188.00 and gave the company a “market perform” rating in a research report on Thursday, January 8th. Wolfe Research reaffirmed an “underperform” rating and set a $150.00 price objective on shares of PJT Partners in a research report on Wednesday, January 7th. Wall Street Zen upgraded shares of PJT Partners from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. The Goldman Sachs Group lowered their price target on PJT Partners from $197.00 to $174.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. Finally, UBS Group assumed coverage on PJT Partners in a report on Thursday, December 11th. They issued a “neutral” rating and a $180.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $179.50.

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.