JMP Securities Raises PJT Partners (NYSE:PJT) Price Target to $150.00

PJT Partners (NYSE:PJT) had its price objective increased by JMP Securities from $142.00 to $150.00 in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a market outperform rating on the financial services provider’s stock.

Several other analysts also recently weighed in on the company. Keefe, Bruyette & Woods restated a market perform rating and issued a $128.00 price objective (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. The Goldman Sachs Group upped their price target on shares of PJT Partners from $115.00 to $132.00 and gave the company a neutral rating in a research note on Wednesday, July 31st. Finally, UBS Group lifted their target price on PJT Partners from $110.00 to $120.00 and gave the stock a sell rating in a report on Tuesday. Two 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.com, the company 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 $144.32 on Wednesday. PJT Partners has a 1 year low of $71.47 and a 1 year high of $146.04. The firm has a 50-day simple moving average of $126.94 and a two-hundred day simple moving average of $112.54. The company has a market cap of $3.43 billion, a P/E ratio of 37.68 and a beta of 0.61.

PJT Partners (NYSE:PJT) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.19 earnings per share (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 was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.99 EPS. As a group, equities research analysts expect that PJT Partners will post 4.35 EPS for the current year.

PJT Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date was Wednesday, September 4th. PJT Partners’s dividend payout ratio (DPR) is presently 26.11%.

Insiders Place Their Bets

In other PJT Partners 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 owns 61,433 shares of the company’s stock, valued at $7,301,312.05. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 value of $1,188,500.00. Following the completion of the sale, the insider now directly owns 61,433 shares in the company, valued at $7,301,312.05. This 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 is available at this link. Also, Director Grace Reksten Skaugen sold 2,015 shares of PJT Partners stock in a transaction on Monday, August 26th. The stock was sold at an average price of $124.86, for a total value of $251,592.90. Following the transaction, the director now owns 500 shares in the company, valued at approximately $62,430. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,297 shares of company stock worth $3,092,668. Company insiders own 11.71% of the company’s stock.

Hedge Funds Weigh In On PJT Partners

Several large investors have recently modified their holdings of PJT. Creative Planning boosted its position in shares of PJT Partners by 84.8% during the third quarter. Creative Planning now owns 5,305 shares of the financial services provider’s stock worth $707,000 after buying an additional 2,435 shares during the period. Diversified Trust Co grew its stake in PJT Partners by 17.9% during the 3rd quarter. Diversified Trust Co now owns 5,775 shares of the financial services provider’s stock worth $770,000 after purchasing an additional 875 shares in the last quarter. GAMMA Investing LLC increased its holdings in PJT Partners by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 146 shares during the period. Handelsbanken Fonder AB raised its position in PJT Partners by 18.6% in the 3rd quarter. Handelsbanken Fonder AB now owns 5,100 shares of the financial services provider’s stock valued at $680,000 after purchasing an additional 800 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of PJT Partners by 72.9% in the 3rd quarter. SG Americas Securities LLC now owns 2,528 shares of the financial services provider’s stock valued at $337,000 after buying an additional 1,066 shares during the period. Institutional investors and hedge funds own 89.23% 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.