Louisiana State Employees Retirement System Takes Position in PJT Partners Inc. $PJT

Louisiana State Employees Retirement System purchased a new position in shares of PJT Partners Inc. (NYSE:PJT) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,800 shares of the financial services provider’s stock, valued at approximately $1,509,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PJT. Andina Capital Management LLC purchased a new stake in PJT Partners in the 1st quarter valued at about $397,000. Diversified Trust Co boosted its stake in PJT Partners by 27.0% during the first quarter. Diversified Trust Co now owns 5,797 shares of the financial services provider’s stock worth $810,000 after buying an additional 1,233 shares during the period. Hsbc Holdings PLC boosted its stake in PJT Partners by 10.3% during the fourth quarter. Hsbc Holdings PLC now owns 31,930 shares of the financial services provider’s stock worth $5,371,000 after buying an additional 2,971 shares during the period. Osbon Capital Management LLC acquired a new stake in shares of PJT Partners during the fourth quarter valued at about $93,000. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of PJT Partners by 2,338.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 512 shares of the financial services provider’s stock valued at $86,000 after acquiring an additional 491 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PJT shares. Zacks Research raised shares of PJT Partners from a “strong sell” rating to a “hold” rating in a research note on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a research report on Friday, May 29th. The Goldman Sachs Group upgraded shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 target price for the company in a report on Wednesday, April 1st. UBS Group boosted 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. Finally, Keefe, Bruyette & Woods upped their price target on PJT Partners from $166.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, PJT Partners has a consensus rating of “Hold” and an average price target of $173.33.

PJT Partners Price Performance

Shares of NYSE:PJT opened at $163.18 on Friday. The firm has a market capitalization of $4.21 billion, a PE ratio of 23.79 and a beta of 0.85. The firm’s 50-day moving average is $155.00 and its two-hundred day moving average is $157.37. PJT Partners Inc. has a 1 year low of $127.73 and a 1 year high of $195.62.

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

PJT Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, June 3rd. PJT Partners’s dividend payout ratio is presently 14.58%.

Insider Buying and Selling

In other PJT Partners news, CFO Helen T. Meates sold 8,000 shares of the firm’s 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 transaction, the chief financial officer owned 58,466 shares of the company’s stock, valued at $8,956,406.54. This trade represents a 12.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel David Adam Travin sold 3,000 shares of the business’s stock in a transaction 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 completion of the transaction, the general counsel owned 2,052 shares of the company’s stock, valued at approximately $312,786.36. This trade 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 corporate 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.