Prospera Financial Services Inc Invests $245,000 in PJT Partners Inc. (NYSE:PJT)

Prospera Financial Services Inc bought a new stake in PJT Partners Inc. (NYSE:PJT) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,834 shares of the financial services provider’s stock, valued at approximately $245,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PJT. SouthState Corp purchased a new position in PJT Partners in the second quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of PJT Partners in the second quarter valued at about $30,000. GAMMA Investing LLC raised its holdings in shares of PJT Partners by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock valued at $45,000 after buying an additional 146 shares during the period. KBC Group NV lifted its position in PJT Partners by 113.0% during the 3rd quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 426 shares in the last quarter. Finally, Shell Asset Management Co. boosted its holdings in PJT Partners by 41.0% in the 1st quarter. Shell Asset Management Co. now owns 2,074 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 603 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling at PJT Partners

In related news, Director Kenneth C. Whitney sold 1,725 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total transaction of $275,568.75. Following the completion of the sale, the director now owns 9,100 shares of the company’s stock, valued at $1,453,725. This represents a 15.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kievdi Don Cornwell sold 11,586 shares of the stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the sale, the director now owns 8,339 shares in the company, valued at approximately $1,029,783.11. This trade represents a 58.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,352 shares of company stock worth $3,382,235 over the last 90 days. Insiders own 11.71% of the company’s stock.

Analysts Set New Price Targets

PJT has been the topic of a number of recent research reports. JMP Securities boosted their target price on shares of PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $128.00 price objective (up from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. The Goldman Sachs Group lifted their target price on PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, UBS Group increased 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. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $123.80.

PJT Partners Stock Performance

Shares of PJT Partners stock opened at $167.00 on Tuesday. PJT Partners Inc. has a 1 year low of $85.87 and a 1 year high of $168.92. The firm’s 50-day simple moving average is $144.06 and its 200-day simple moving average is $124.36. The firm has a market cap of $3.96 billion, a PE ratio of 42.31 and a beta of 0.61.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. The firm had revenue of $326.30 million for the quarter, compared to analysts’ expectations of $313.46 million. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. PJT Partners’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 earnings per share. On average, equities analysts predict that PJT Partners Inc. will post 4.4 earnings per share for the current year.

PJT Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date is Wednesday, December 4th. PJT Partners’s dividend payout ratio is presently 25.38%.

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.