PJT Partners (NYSE:PJT) Director Grace Reksten Skaugen Sells 1,283 Shares of Stock

PJT Partners Inc. (NYSE:PJT) Director Grace Reksten Skaugen sold 1,283 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $167.67, for a total transaction of $215,120.61. Following the transaction, the director owned 500 shares in the company, valued at approximately $83,835. This trade represents a 71.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

PJT Partners Price Performance

PJT stock opened at $168.03 on Friday. The company has a fifty day moving average price of $159.53 and a 200 day moving average price of $156.43. PJT Partners Inc. has a 12 month low of $127.73 and a 12 month high of $195.62. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 22.99 and a beta of 0.85.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.40. PJT Partners had a net margin of 10.57% and a return on equity of 32.88%. The firm had revenue of $486.29 million during the quarter, compared to analysts’ expectations of $425.28 million. During the same quarter in the prior year, the business earned $1.54 EPS. PJT Partners’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, analysts anticipate that PJT Partners Inc. will post 8 earnings per share for the current year.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, September 2nd. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. PJT Partners’s dividend payout ratio is 13.68%.

Institutional Investors Weigh In On PJT Partners

Hedge funds have recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in PJT Partners by 73.3% in the 2nd quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 99 shares in the last quarter. Allworth Financial LP raised its stake in shares of PJT Partners by 85.8% during the 4th quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock worth $48,000 after buying an additional 133 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in shares of PJT Partners in the 1st quarter valued at approximately $50,000. State of Wyoming purchased a new stake in shares of PJT Partners in the second quarter valued at approximately $63,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of PJT Partners in the fourth quarter valued at approximately $65,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wall Street Zen upgraded PJT Partners from a “hold” rating to a “buy” rating in a research report on Saturday. Keefe, Bruyette & Woods lifted their target price on PJT Partners from $185.00 to $195.00 and gave the company an “outperform” rating in a research note on Wednesday. Zacks Research raised PJT Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. UBS Group restated a “neutral” rating and set a $176.00 price target on shares of PJT Partners in a research note on Wednesday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $179.33.

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.