Brokerages Set PJT Partners Inc. (NYSE:PJT) Price Target at $116.80

PJT Partners Inc. (NYSE:PJT) has been given a consensus rating of “Reduce” by the six brokerages that are presently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $116.80.

Several brokerages recently weighed in on PJT. The Goldman Sachs Group upped their target price on shares of PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. JMP Securities upped their price objective 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. UBS Group increased their target price on PJT Partners from $85.00 to $93.00 and gave the stock a “sell” rating in a research report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $128.00 price target (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st.

PJT Partners Stock Down 0.1 %

NYSE PJT opened at $132.98 on Monday. The stock’s 50-day moving average price is $124.98 and its 200-day moving average price is $110.36. The company has a market capitalization of $3.16 billion, a P/E ratio of 36.63 and a beta of 0.61. PJT Partners has a 52 week low of $71.47 and a 52 week high of $137.19.

PJT Partners (NYSE:PJT) last released its 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 for the quarter, compared to analysts’ expectations of $281.93 million. PJT Partners had a net margin of 7.96% and a return on equity of 18.04%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.99 EPS. Research analysts anticipate that PJT Partners will post 4.35 EPS for the current year.

PJT Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.75%. PJT Partners’s dividend payout ratio (DPR) is 27.55%.

Insider Buying and Selling

In other news, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 61,433 shares in the company, valued at approximately $7,301,312.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Kievdi Don Cornwell sold 11,586 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the completion of the sale, the director now directly owns 8,339 shares of the company’s stock, valued at $1,029,783.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ji-Yeun Lee sold 10,000 shares of the business’s 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 completion of the sale, the insider now owns 61,433 shares of the company’s stock, valued at approximately $7,301,312.05. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,297 shares of company stock worth $3,092,668. Corporate insiders own 10.67% of the company’s stock.

Institutional Investors Weigh In On PJT Partners

Several institutional investors have recently bought and sold shares of the company. Champlain Investment Partners LLC acquired a new position in PJT Partners during the first quarter valued at $43,029,000. Vanguard Group Inc. boosted its stake in PJT Partners by 15.0% during the fourth quarter. Vanguard Group Inc. now owns 2,429,691 shares of the financial services provider’s stock worth $247,513,000 after buying an additional 317,437 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of PJT Partners in the second quarter valued at about $13,803,000. Marshall Wace LLP purchased a new position in PJT Partners during the second quarter worth about $5,801,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in PJT Partners by 36.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 85,049 shares of the financial services provider’s stock valued at $8,017,000 after purchasing an additional 22,556 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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.