Ieq Capital LLC Has $2.75 Million Position in PJT Partners Inc. (NYSE:PJT)

Ieq Capital LLC lifted its stake in PJT Partners Inc. (NYSE:PJT) by 28.9% during the second quarter, HoldingsChannel reports. The fund owned 25,474 shares of the financial services provider’s stock after purchasing an additional 5,705 shares during the quarter. Ieq Capital LLC’s holdings in PJT Partners were worth $2,749,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. 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 during the 2nd quarter valued at about $30,000. Fidelis Capital Partners LLC bought a new stake in shares of PJT Partners in the 1st quarter valued at approximately $39,000. EntryPoint Capital LLC increased its holdings in PJT Partners by 27.6% in the first quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider’s stock worth $157,000 after buying an additional 359 shares during the last quarter. Finally, Shell Asset Management Co. raised its position in PJT Partners by 41.0% during the first quarter. Shell Asset Management Co. now owns 2,074 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 603 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. UBS Group increased their price target on shares of PJT Partners from $85.00 to $93.00 and gave the stock a “sell” rating in a research note on Tuesday, July 9th. The Goldman Sachs Group raised their target price on PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. JMP Securities upped their price target on PJT Partners from $120.00 to $142.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 31st. Finally, 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 note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $116.80.

PJT Partners Stock Performance

NYSE PJT opened at $135.39 on Friday. The stock has a 50-day simple moving average of $122.82 and a 200 day simple moving average of $108.52. PJT Partners Inc. has a twelve month low of $71.47 and a twelve month high of $137.06. The stock has a market capitalization of $3.22 billion, a PE ratio of 37.30 and a beta of 0.61.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.49. The company had revenue of $360.00 million during the quarter, compared to analyst estimates of $281.93 million. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.99 earnings per share. As a group, equities research analysts forecast that PJT Partners Inc. will post 4.35 EPS for the current fiscal year.

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.00 annualized dividend and a yield of 0.74%. PJT Partners’s dividend payout ratio is 27.55%.

Insider Transactions at PJT Partners

In related news, insider Ji-Yeun Lee sold 10,000 shares of PJT Partners stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the sale, the insider now directly owns 61,433 shares of the company’s stock, valued at $7,301,312.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Emily K. Rafferty sold 1,696 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $130.79, for a total value of $221,819.84. Following the completion of the transaction, the director now owns 7,404 shares in the company, valued at approximately $968,369.16. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Ji-Yeun Lee sold 10,000 shares of PJT Partners stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the sale, the insider now owns 61,433 shares in the company, valued at $7,301,312.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,297 shares of company stock worth $3,092,668. 10.67% of the stock is currently owned by company insiders.

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.