Creative Planning Takes Position in PJT Partners Inc. (NYSE:PJT)

Creative Planning acquired a new stake in PJT Partners Inc. (NYSE:PJT) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 2,870 shares of the financial services provider’s stock, valued at approximately $310,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SouthState Corp acquired a new stake in shares of PJT Partners in the second quarter valued at approximately $26,000. Opal Wealth Advisors LLC bought a new stake in PJT Partners during the second quarter worth $30,000. Fidelis Capital Partners LLC bought a new stake in PJT Partners during the first quarter worth $39,000. EntryPoint Capital LLC raised its position in PJT Partners by 27.6% during the first quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 359 shares in the last quarter. Finally, OLD National Bancorp IN bought a new stake in PJT Partners during the second quarter worth $204,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

PJT Partners Price Performance

Shares of NYSE PJT opened at $149.82 on Friday. The company has a 50 day simple moving average of $129.09 and a 200 day simple moving average of $114.03. The firm has a market cap of $3.59 billion, a PE ratio of 41.27 and a beta of 0.61. PJT Partners Inc. has a 1 year low of $71.47 and a 1 year high of $151.10.

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

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.67%. The ex-dividend date was Wednesday, September 4th. PJT Partners’s payout ratio is currently 27.55%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PJT. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $128.00 price target (up from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. JMP Securities upped their price target 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. The Goldman Sachs Group upped their price target on shares of 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 upped their price target on shares of PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $123.80.

Insider Activity at PJT Partners

In related news, Director Kievdi Don Cornwell sold 11,586 shares of PJT Partners stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $123.49, for a total value of $1,430,755.14. Following the completion of the sale, the director now owns 8,339 shares of the company’s stock, valued at approximately $1,029,783.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Kievdi Don Cornwell sold 11,586 shares of PJT Partners stock in a transaction on 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 directly owns 8,339 shares in the company, valued at $1,029,783.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Emily K. Rafferty sold 1,696 shares of PJT Partners stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $130.79, for a total value of $221,819.84. Following the sale, the director now owns 7,404 shares in the company, valued at $968,369.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,297 shares of company stock valued at $3,092,668. 10.67% of the stock is owned by company insiders.

About PJT Partners

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.