BNP Paribas Financial Markets Raises Stock Holdings in PJT Partners Inc. (NYSE:PJT)

BNP Paribas Financial Markets lifted its holdings in PJT Partners Inc. (NYSE:PJT) by 40.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,747 shares of the financial services provider’s stock after buying an additional 9,510 shares during the quarter. BNP Paribas Financial Markets’ holdings in PJT Partners were worth $4,366,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SouthState Corp purchased a new stake in shares of PJT Partners in the second quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new position in PJT Partners during the 2nd quarter worth $30,000. GAMMA Investing LLC increased its holdings in PJT Partners by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 146 shares during the period. KBC Group NV increased its holdings 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 purchasing an additional 426 shares during the period. Finally, OLD National Bancorp IN purchased a new position in PJT Partners during the 2nd quarter worth $204,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PJT Partners

In other news, Director Kenneth C. Whitney sold 1,725 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total value 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 trade represents a 15.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $245,296.38. The disclosure for this sale can be found here. Insiders sold 4,766 shares of company stock valued at $762,980 in the last quarter. 11.71% of the stock is currently owned by corporate insiders.

PJT Partners Trading Up 0.2 %

Shares of NYSE PJT opened at $161.09 on Thursday. The stock has a market capitalization of $3.82 billion, a PE ratio of 40.89 and a beta of 0.65. The stock’s fifty day simple moving average is $149.12 and its two-hundred day simple moving average is $127.78. PJT Partners Inc. has a 12-month low of $88.51 and a 12-month high of $168.92.

PJT Partners (NYSE:PJT) last announced its earnings results 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 business 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%. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 EPS. On average, equities analysts predict that PJT Partners Inc. will post 4.4 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.62%. PJT Partners’s payout ratio is 25.38%.

Wall Street Analyst Weigh In

Several research firms have commented on PJT. UBS Group raised their price objective on PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. JMP Securities raised their price objective on PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, PJT Partners presently has a consensus rating of “Hold” and a consensus price target of $123.80.

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.