Principal Financial Group Inc. Raises Stock Holdings in PJT Partners Inc. $PJT

Principal Financial Group Inc. raised its holdings in PJT Partners Inc. (NYSE:PJT) by 15.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 188,774 shares of the financial services provider’s stock after purchasing an additional 24,735 shares during the period. Principal Financial Group Inc. owned about 0.78% of PJT Partners worth $26,376,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allworth Financial LP lifted its position in shares of PJT Partners by 85.8% during the 4th quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock valued at $48,000 after buying an additional 133 shares in the last quarter. State of Wyoming purchased a new stake in PJT Partners in the 2nd quarter worth $63,000. Kestra Advisory Services LLC acquired a new position in PJT Partners during the fourth quarter worth $65,000. Exchange Traded Concepts LLC acquired a new position in PJT Partners during the fourth quarter worth $86,000. Finally, Caitong International Asset Management Co. Ltd raised its position in PJT Partners by 2,338.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 512 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 491 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

PJT Partners Price Performance

NYSE PJT opened at $164.63 on Tuesday. The firm’s 50-day moving average is $157.46 and its two-hundred day moving average is $156.80. PJT Partners Inc. has a 12 month low of $127.73 and a 12 month high of $195.62. The stock has a market capitalization of $4.25 billion, a P/E ratio of 24.00 and a beta of 0.85.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.03. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The business had revenue of $418.20 million during the quarter, compared to analysts’ expectations of $409.38 million. During the same period last year, the business earned $1.05 earnings per share. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. As a group, analysts anticipate that PJT Partners Inc. will post 7.5 EPS for the current year.

PJT Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Wednesday, June 3rd. PJT Partners’s dividend payout ratio (DPR) is currently 14.58%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PJT. UBS Group lifted their target price on shares of PJT Partners from $160.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. The Goldman Sachs Group raised shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Wednesday, April 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a research note on Friday, May 29th. Keefe, Bruyette & Woods boosted their price target on PJT Partners from $175.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Finally, Zacks Research raised PJT Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $175.33.

Insider Buying and Selling at PJT Partners

In related news, General Counsel David Adam Travin sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total transaction of $457,290.00. Following the completion of the transaction, the general counsel directly owned 2,052 shares in the company, valued at $312,786.36. This trade represents a 59.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Helen T. Meates sold 8,000 shares of PJT Partners stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $153.19, for a total value of $1,225,520.00. Following the completion of the transaction, the chief financial officer directly owned 58,466 shares of the company’s stock, valued at approximately $8,956,406.54. This represents a 12.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 10.98% of the company’s stock.

PJT Partners Company Profile

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.