PJT Partners (NYSE:PJT) Hits New 1-Year High at $137.06

PJT Partners Inc. (NYSE:PJT)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $137.06 and last traded at $135.93, with a volume of 40406 shares changing hands. The stock had previously closed at $135.39.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PJT. UBS Group increased their target price on PJT Partners from $85.00 to $93.00 and gave the stock a “sell” rating in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $128.00 price objective (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. The Goldman Sachs Group raised their target price on shares of PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, JMP Securities upped their price target on shares of PJT Partners from $120.00 to $142.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $116.80.

PJT Partners Stock Performance

The company has a market capitalization of $3.24 billion, a PE ratio of 37.32 and a beta of 0.61. The business has a fifty day moving average price of $122.37 and a 200 day moving average price of $108.22.

PJT Partners (NYSE:PJT) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $0.70 by $0.49. PJT Partners had a net margin of 7.96% and a return on equity of 18.04%. The firm had revenue of $360.00 million for the quarter, compared to analyst estimates of $281.93 million. During the same quarter last year, the firm posted $0.99 earnings per share. PJT Partners’s revenue for the quarter was up 4.0% compared to the same quarter last year. Research analysts forecast that PJT Partners Inc. will post 4.35 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.74%. PJT Partners’s payout ratio is 27.55%.

Insider Buying and Selling

In other news, Director Emily K. Rafferty sold 1,696 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $130.79, for a total value of $221,819.84. Following the completion of the sale, the director now owns 7,404 shares in the company, valued at $968,369.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Ji-Yeun Lee sold 10,000 shares of PJT Partners stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the sale, the insider now owns 61,433 shares of the company’s stock, valued at approximately $7,301,312.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Emily K. Rafferty sold 1,696 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $130.79, for a total transaction of $221,819.84. Following the completion of the transaction, the director now directly owns 7,404 shares of the company’s stock, valued at $968,369.16. The disclosure for this sale can be found here. In the last three months, insiders sold 25,297 shares of company stock valued at $3,092,668. Company insiders own 10.67% of the company’s stock.

Institutional Trading of PJT Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Louisiana State Employees Retirement System grew its position in shares of PJT Partners by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the financial services provider’s stock worth $1,198,000 after acquiring an additional 100 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of PJT Partners by 0.8% during the second quarter. American Century Companies Inc. now owns 14,837 shares of the financial services provider’s stock valued at $1,601,000 after buying an additional 120 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of PJT Partners by 3.3% during the second quarter. AQR Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $454,000 after buying an additional 136 shares during the period. Sei Investments Co. grew its holdings in PJT Partners by 1.4% in the 2nd quarter. Sei Investments Co. now owns 10,458 shares of the financial services provider’s stock worth $1,129,000 after buying an additional 141 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in PJT Partners by 1.3% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,004 shares of the financial services provider’s stock valued at $1,295,000 after acquiring an additional 158 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

About PJT Partners

PJT Partners Inc, an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures.