Crossmark Global Holdings Inc. Makes New $262,000 Investment in PJT Partners Inc. (NYSE:PJT)

Crossmark Global Holdings Inc. bought a new stake in shares of PJT Partners Inc. (NYSE:PJT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,970 shares of the financial services provider’s stock, valued at approximately $262,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. SouthState Corp bought a new position in PJT Partners during the 2nd quarter worth $26,000. Opal Wealth Advisors LLC bought a new position in shares of PJT Partners during the second quarter worth about $30,000. GAMMA Investing LLC grew its position in shares of PJT Partners by 76.4% during the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 146 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of PJT Partners in the 3rd quarter worth about $213,000. Finally, EntryPoint Capital LLC lifted its position in PJT Partners by 27.6% in the 1st quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 359 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented 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 research report on Wednesday, July 31st. UBS Group increased 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $128.00 target price (up previously from $108.00) on shares of PJT Partners in a research note on Wednesday, July 31st. Finally, JMP Securities increased their price target on PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $123.80.

PJT Partners Price Performance

Shares of NYSE:PJT opened at $157.32 on Monday. The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 39.93 and a beta of 0.61. PJT Partners Inc. has a 12 month low of $82.64 and a 12 month high of $163.85. The stock’s 50 day moving average price is $140.25 and its 200 day moving average price is $122.08.

PJT Partners (NYSE:PJT) last issued its quarterly 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 company 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 firm’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS. On average, sell-side analysts expect that PJT Partners Inc. will post 4.4 EPS for the current 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 dividend of $0.25 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.64%. PJT Partners’s dividend payout ratio (DPR) is 25.38%.

Insider Activity

In other news, insider Ji-Yeun Lee sold 10,000 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 61,433 shares of the company’s stock, valued at $7,301,312.05. This trade represents a 14.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James Costos sold 1,500 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $161.41, for a total value of $242,115.00. Following the sale, the director now directly owns 9,360 shares in the company, valued at $1,510,797.60. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,367 shares of company stock worth $3,633,828. Corporate insiders own 11.71% of the company’s stock.

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.