PJT Partners Inc. (NYSE:PJT) Receives Consensus Rating of “Reduce” from Brokerages

Shares of PJT Partners Inc. (NYSE:PJT) have been given an average recommendation of “Reduce” by the six ratings firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $123.80.

PJT has been the topic of several recent research reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $128.00 price objective (up previously from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. UBS Group lifted their price target on shares of PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group increased their price objective on shares of PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, JMP Securities lifted their target price on shares of PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th.

PJT Partners Price Performance

NYSE PJT opened at $141.80 on Friday. The company’s fifty day moving average is $131.48 and its two-hundred day moving average is $115.76. PJT Partners has a 52-week low of $71.47 and a 52-week high of $151.10. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of 37.02 and a beta of 0.61.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, July 30th. The financial services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.49. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. The business had revenue of $360.00 million for the quarter, compared to the consensus estimate of $281.93 million. During the same period last year, the business earned $0.99 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, sell-side analysts expect that PJT Partners will post 4.35 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.00 annualized dividend and a yield of 0.71%. PJT Partners’s dividend payout ratio is currently 26.11%.

Insider Activity

In related news, Director Emily K. Rafferty sold 1,696 shares of the 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 sale, the director now owns 7,404 shares in the company, valued at $968,369.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Emily K. Rafferty sold 1,696 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $130.79, for a total value of $221,819.84. Following the transaction, the director now directly owns 7,404 shares of the company’s stock, valued at $968,369.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Grace Reksten Skaugen sold 2,015 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $124.86, for a total value of $251,592.90. Following the sale, the director now directly owns 500 shares of the company’s stock, valued at $62,430. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,297 shares of company stock worth $3,092,668. Corporate insiders own 11.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in PJT Partners by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 2,447,154 shares of the financial services provider’s stock valued at $230,669,000 after acquiring an additional 17,463 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of PJT Partners by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 458,216 shares of the financial services provider’s stock valued at $49,446,000 after purchasing an additional 22,117 shares in the last quarter. Champlain Investment Partners LLC bought a new position in PJT Partners in the 1st quarter worth approximately $43,029,000. Klingman & Associates LLC lifted its holdings in PJT Partners by 5.2% during the 1st quarter. Klingman & Associates LLC now owns 157,056 shares of the financial services provider’s stock worth $14,804,000 after buying an additional 7,754 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in PJT Partners by 5.5% during the 1st quarter. Principal Financial Group Inc. now owns 137,016 shares of the financial services provider’s stock worth $12,915,000 after buying an additional 7,144 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

PJT Partners Company Profile

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.