PJT Partners (NYSE:PJT) Given New $177.00 Price Target at Keefe, Bruyette & Woods

PJT Partners (NYSE:PJT) had its price objective upped by Keefe, Bruyette & Woods from $152.00 to $177.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

A number of other equities research analysts have also weighed in on PJT. JMP Securities lowered shares of PJT Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 13th. UBS Group raised PJT Partners from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $130.00 to $175.00 in a report on Friday, December 6th. Finally, Citizens Jmp lowered PJT Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $158.50.

PJT Partners Stock Up 1.8 %

NYSE PJT opened at $176.94 on Wednesday. PJT Partners has a 52 week low of $88.51 and a 52 week high of $190.27. The business has a 50 day moving average price of $160.83 and a 200-day moving average price of $144.28. The company has a market cap of $4.19 billion, a price-to-earnings ratio of 44.91 and a beta of 0.67.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $1.90 EPS 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 business had revenue of $477.30 million during the quarter, compared to analyst estimates of $384.64 million. During the same quarter in the previous year, the business posted $0.96 EPS. PJT Partners’s quarterly revenue was up 45.3% on a year-over-year basis. On average, equities research analysts anticipate that PJT Partners will post 4.2 earnings per share for the current year.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Wednesday, March 5th. PJT Partners’s payout ratio is 25.38%.

Insider Buying and Selling at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 1,541 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $159.18, for a total value of $245,296.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kenneth C. Whitney sold 1,725 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total value of $275,568.75. Following the sale, the director now directly owns 9,100 shares of the company’s stock, valued at approximately $1,453,725. This represents a 15.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 11.71% of the company’s stock.

Hedge Funds Weigh In On PJT Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in PJT. Bank of Montreal Can raised its position in PJT Partners by 102.5% in the second quarter. Bank of Montreal Can now owns 4,989 shares of the financial services provider’s stock worth $544,000 after acquiring an additional 2,525 shares during the period. AQR Capital Management LLC increased its stake in shares of PJT Partners by 3.3% during the 2nd quarter. AQR Capital Management LLC now owns 4,207 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 136 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of PJT Partners by 3.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,176 shares of the financial services provider’s stock worth $1,422,000 after purchasing an additional 427 shares during the period. Algert Global LLC purchased a new position in PJT Partners in the second quarter valued at approximately $247,000. Finally, Creative Planning bought a new position in PJT Partners during the second quarter valued at $310,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

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.