PJT Partners (NYSE:PJT) Upgraded at UBS Group

UBS Group upgraded shares of PJT Partners (NYSE:PJT) from a sell rating to a neutral rating in a research note issued to investors on Friday, Marketbeat reports. They currently have $175.00 price objective on the financial services provider’s stock, up from their previous price objective of $130.00.

Separately, JMP Securities boosted their price target on shares of PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PJT Partners presently has an average rating of “Hold” and a consensus price target of $134.80.

PJT Partners Trading Up 1.8 %

Shares of PJT stock opened at $164.21 on Friday. PJT Partners has a 1 year low of $88.51 and a 1 year high of $168.92. The firm’s fifty day simple moving average is $150.28 and its 200 day simple moving average is $128.77. The firm has a market capitalization of $3.89 billion, a P/E ratio of 41.68 and a beta of 0.65.

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, topping analysts’ consensus estimates of $0.91 by $0.02. The business had revenue of $326.30 million for 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%. PJT Partners’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Equities 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. Stockholders of record on Wednesday, December 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Wednesday, December 4th. PJT Partners’s payout ratio is 25.38%.

Insider Transactions at PJT Partners

In related news, Director James Costos sold 1,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $161.41, for a total transaction of $242,115.00. Following the transaction, the director now owns 9,360 shares in the company, valued at $1,510,797.60. This represents a 13.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth C. Whitney sold 1,725 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total transaction of $275,568.75. Following the transaction, the director now owns 9,100 shares in the company, valued at approximately $1,453,725. This trade represents a 15.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,766 shares of company stock valued at $762,980. 11.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PJT. Point72 Asset Management L.P. acquired a new position in PJT Partners during the 2nd quarter worth about $13,803,000. Congress Asset Management Co. lifted its position in PJT Partners by 29.6% during the 3rd quarter. Congress Asset Management Co. now owns 317,974 shares of the financial services provider’s stock worth $42,399,000 after buying an additional 72,582 shares in the last quarter. State Street Corp lifted its position in PJT Partners by 5.7% during the 3rd quarter. State Street Corp now owns 1,001,911 shares of the financial services provider’s stock worth $133,595,000 after buying an additional 54,071 shares in the last quarter. Marshall Wace LLP acquired a new position in PJT Partners during the 2nd quarter worth about $5,801,000. Finally, Geode Capital Management LLC lifted its position in PJT Partners by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 619,037 shares of the financial services provider’s stock valued at $82,556,000 after purchasing an additional 45,327 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

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.