PJT Partners Inc. (NYSE:PJT) Plans $0.25 Quarterly Dividend

PJT Partners Inc. (NYSE:PJT) declared a quarterly dividend on Wednesday, February 5th,Wall Street Journal reports. Stockholders of record on Wednesday, March 5th will be paid a dividend of 0.25 per share by the financial services provider on Wednesday, March 19th. This represents a $1.00 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Wednesday, March 5th.

PJT Partners has raised its dividend payment by an average of 71.0% annually over the last three years. PJT Partners has a payout ratio of 15.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PJT Partners to earn $5.40 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 18.5%.

PJT Partners Trading Up 1.8 %

Shares of PJT traded up $3.17 on Wednesday, reaching $176.94. The company’s stock had a trading volume of 221,096 shares, compared to its average volume of 237,724. PJT Partners has a twelve month low of $88.51 and a twelve month high of $190.27. The stock has a market capitalization of $4.19 billion, a PE ratio of 44.91 and a beta of 0.67. The firm has a fifty day moving average of $160.59 and a 200-day moving average of $144.05.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, February 4th. The financial services provider reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.71. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The firm had revenue of $477.30 million during the quarter, compared to the consensus estimate of $384.64 million. During the same period in the prior year, the firm earned $0.96 EPS. The company’s revenue was up 45.3% compared to the same quarter last year. As a group, equities analysts anticipate that PJT Partners will post 4.2 EPS for the current fiscal year.

Insider Activity

In other news, Director James Costos sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $161.41, for a total transaction of $242,115.00. Following the sale, the director now directly owns 9,360 shares of the company’s stock, valued at $1,510,797.60. This represents a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel David Adam Travin sold 1,541 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $159.18, for a total value of $245,296.38. The disclosure for this sale can be found here. Insiders sold 4,766 shares of company stock valued at $762,980 over the last three months. Insiders own 11.71% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PJT. UBS Group upgraded shares of PJT Partners from a “sell” rating to a “neutral” rating and increased their target price for the stock from $130.00 to $175.00 in a research note on Friday, December 6th. JMP Securities cut shares of PJT Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 13th. Citizens Jmp cut shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of PJT Partners from $152.00 to $177.00 and gave the company a “market perform” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $158.50.

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.