PJT Partners (NYSE:PJT) Director Kievdi Don Cornwell Sells 7,845 Shares

PJT Partners Inc. (NYSE:PJT) Director Kievdi Don Cornwell sold 7,845 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $173.48, for a total transaction of $1,360,950.60. Following the completion of the sale, the director directly owned 18,865 shares in the company, valued at approximately $3,272,700.20. The trade was a 29.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

PJT Partners Stock Up 2.1%

Shares of PJT Partners stock opened at $174.44 on Friday. 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 $4.46 billion, a P/E ratio of 23.86 and a beta of 0.84. The company has a 50-day simple moving average of $164.47 and a 200 day simple moving average of $155.39.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.40. The firm had revenue of $486.29 million for the quarter, compared to analyst estimates of $425.28 million. PJT Partners had a net margin of 10.57% and a return on equity of 32.66%. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.54 earnings per share. On average, equities analysts anticipate that PJT Partners Inc. will post 8 earnings per share for the current year.

PJT Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be paid a $0.25 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. PJT Partners’s payout ratio is 13.68%.

Analyst Ratings Changes

A number of equities research analysts recently commented on PJT shares. Wall Street Zen upgraded PJT Partners from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. BMO Capital Markets lifted their price objective on PJT Partners from $183.00 to $194.00 and gave the company an “outperform” rating in a research report on Monday, August 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of PJT Partners in a research note on Friday, May 29th. Keefe, Bruyette & Woods increased their target price on PJT Partners from $185.00 to $195.00 and gave the stock an “outperform” rating in a report on Wednesday, July 29th. Finally, Zacks Research upgraded PJT Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, PJT Partners currently has a consensus rating of “Hold” and a consensus price target of $177.50.

Institutional Investors Weigh In On PJT Partners

Institutional investors have recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in PJT Partners by 45.7% in the first quarter. Royal Bank of Canada now owns 11,471 shares of the financial services provider’s stock valued at $1,581,000 after buying an additional 3,596 shares during the period. AQR Capital Management LLC grew its holdings in PJT Partners by 57.7% during the 1st quarter. AQR Capital Management LLC now owns 7,330 shares of the financial services provider’s stock worth $1,011,000 after acquiring an additional 2,681 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in PJT Partners by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,887 shares of the financial services provider’s stock worth $1,915,000 after acquiring an additional 620 shares during the period. Millennium Management LLC raised its position in shares of PJT Partners by 1,394.5% during the 1st quarter. Millennium Management LLC now owns 52,563 shares of the financial services provider’s stock valued at $7,247,000 after acquiring an additional 49,046 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of PJT Partners by 5.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 370,536 shares of the financial services provider’s stock valued at $51,090,000 after acquiring an additional 19,806 shares during the last quarter. Institutional investors and hedge funds own 89.23% 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.