PJT Partners Inc. (NYSE:PJT) Given Average Rating of “Reduce” by Analysts

Shares of PJT Partners Inc. (NYSE:PJT) have been assigned a consensus recommendation of “Reduce” from the six ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $123.80.

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

PJT Partners Price Performance

NYSE:PJT opened at $156.31 on Tuesday. The firm has a market capitalization of $3.70 billion, a P/E ratio of 39.67 and a beta of 0.61. The business has a 50 day simple moving average of $140.25 and a 200 day simple moving average of $122.28. PJT Partners has a 12-month low of $82.64 and a 12-month high of $163.85.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. The business had revenue of $326.30 million during the quarter, compared to analyst estimates of $313.46 million. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The company’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 earnings per share. Research analysts anticipate that PJT Partners will post 4.4 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Wednesday, December 4th. PJT Partners’s payout ratio is currently 25.38%.

Insider Buying and Selling at PJT Partners

In other news, General Counsel David Adam Travin sold 1,541 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $159.18, for a total transaction of $245,296.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total value of $1,188,500.00. Following the sale, the insider now directly owns 61,433 shares in the company, valued at $7,301,312.05. This trade represents a 14.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,367 shares of company stock valued at $3,633,828. 11.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC grew its holdings in shares of PJT Partners by 7.3% during the first quarter. ProShare Advisors LLC now owns 4,754 shares of the financial services provider’s stock valued at $448,000 after buying an additional 323 shares in the last quarter. Vanguard Group Inc. boosted its position in PJT Partners by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,447,154 shares of the financial services provider’s stock worth $230,669,000 after acquiring an additional 17,463 shares during the period. UniSuper Management Pty Ltd purchased a new position in PJT Partners during the 1st quarter valued at about $386,000. Bessemer Group Inc. acquired a new position in shares of PJT Partners in the 1st quarter valued at about $572,000. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of PJT Partners by 9.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 19,447 shares of the financial services provider’s stock worth $1,831,000 after purchasing an additional 1,650 shares in the last quarter. 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.