PJT Partners (NYSE:PJT) Sets New 1-Year High – Here’s What Happened

PJT Partners Inc. (NYSE:PJT) hit a new 52-week high on Friday . The stock traded as high as $143.31 and last traded at $143.31, with a volume of 30466 shares. The stock had previously closed at $139.65.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $128.00 price objective (up from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. UBS Group increased their price target on PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a research report on Tuesday. JMP Securities upped their target price on PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday. Finally, The Goldman Sachs Group increased their price objective on shares of PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $123.80.

PJT Partners Price Performance

The business has a 50 day simple moving average of $126.51 and a 200 day simple moving average of $112.19. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 36.60 and a beta of 0.61.

PJT Partners (NYSE:PJT) last announced its earnings results on Tuesday, July 30th. The financial services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.49. The company had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $281.93 million. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. PJT Partners’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the business posted $0.99 EPS. On average, equities research analysts predict that PJT Partners Inc. will post 4.35 EPS for the current year.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.69%. The ex-dividend date was Wednesday, September 4th. PJT Partners’s payout ratio is currently 26.11%.

Insider Buying and Selling at PJT Partners

In other PJT Partners news, Director Emily K. Rafferty sold 1,696 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $130.79, for a total transaction of $221,819.84. Following the sale, the director now owns 7,404 shares of the company’s stock, valued at approximately $968,369.16. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the company’s 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 sale, the insider now directly owns 61,433 shares of the company’s stock, valued at $7,301,312.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Emily K. Rafferty sold 1,696 shares of the 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 directly owns 7,404 shares of the company’s stock, valued at approximately $968,369.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,297 shares of company stock valued at $3,092,668 in the last 90 days. Company insiders own 11.71% of the company’s stock.

Institutional Investors Weigh In On PJT Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Illinois Municipal Retirement Fund purchased a new stake in shares of PJT Partners during the first quarter worth about $1,262,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake 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 worth $8,017,000 after acquiring an additional 22,556 shares during the period. Champlain Investment Partners LLC acquired a new position in PJT Partners in the 1st quarter valued at $43,029,000. BNP Paribas Financial Markets lifted its stake in shares of PJT Partners by 116.0% during the 1st quarter. BNP Paribas Financial Markets now owns 41,251 shares of the financial services provider’s stock worth $3,888,000 after purchasing an additional 22,157 shares during the period. Finally, FORA Capital LLC acquired a new stake in shares of PJT Partners during the first quarter worth $647,000. 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.