PJT Partners’ (PJT) Market Perform Rating Reiterated at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their market perform rating on shares of PJT Partners (NYSE:PJT) in a research note released on Wednesday morning, Marketbeat.com reports. The brokerage currently has a $159.00 price target on the financial services provider’s stock, down from their previous price target of $195.00.

Other research analysts have also recently issued reports about the stock. Zacks Research upgraded shares of PJT Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. BMO Capital Markets reissued an “outperform” rating on shares of PJT Partners in a report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of PJT Partners in a research report on Wednesday, August 26th. The Goldman Sachs Group lowered their price target on PJT Partners from $203.00 to $182.00 and set a “buy” rating on the stock in a research report on Thursday, October 1st. Finally, Wall Street Zen downgraded PJT Partners from a “buy” rating to a “hold” rating in a research note on Saturday, August 29th. Two investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $170.00.

PJT Partners Stock Up 1.1%

Shares of NYSE PJT opened at $137.34 on Wednesday. PJT Partners has a fifty-two week low of $127.73 and a fifty-two week high of $195.62. The firm’s 50-day simple moving average is $163.79 and its 200 day simple moving average is $158.31. The stock has a market cap of $3.51 billion, a P/E ratio of 18.79 and a beta of 0.89.

PJT Partners (NYSE:PJT) last announced its earnings results on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.40. The firm had revenue of $486.29 million during 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%. PJT Partners’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.54 EPS. On average, sell-side analysts anticipate that PJT Partners will post 8.00 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, September 2nd. PJT Partners’s dividend payout ratio is currently 13.68%.

Insider Buying and Selling

In related news, Director Emily Rafferty sold 1,100 shares of PJT Partners stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $167.35, for a total value of $184,085.00. Following the transaction, the director owned 9,568 shares of the company’s stock, valued at approximately $1,601,204.80. This trade represents a 10.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director James Costos sold 1,723 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $175.00, for a total value of $301,525.00. Following the sale, the director owned 11,289 shares in the company, valued at approximately $1,975,575. The trade was a 13.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 11,951 shares of company stock worth $2,061,681. Company insiders own 10.98% of the company’s stock.

Institutional Investors Weigh In On PJT Partners

Hedge funds have recently made changes to their positions in the company. GK Wealth Management LLC purchased a new stake in PJT Partners in the 3rd quarter worth about $92,000. Congress Asset Management Co. grew its stake in PJT Partners by 0.7% during the 3rd quarter. Congress Asset Management Co. now owns 728,580 shares of the financial services provider’s stock valued at $103,976,000 after acquiring an additional 5,106 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of PJT Partners in the second quarter worth approximately $412,000. Tidal Investments LLC boosted its holdings in shares of PJT Partners by 3.6% during the second quarter. Tidal Investments LLC now owns 119,193 shares of the financial services provider’s stock worth $17,991,000 after purchasing an additional 4,147 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in shares of PJT Partners during the second quarter worth approximately $4,604,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

About PJT Partners

PJT Partners Inc (NYSE:PJT) is a global, independent investment banking and advisory firm that provides strategic, restructuring and private capital advisory services to corporations, financial sponsors, institutional investors and other organizations.

The company advises clients on mergers and acquisitions, divestitures, strategic transactions, shareholder activism and other corporate matters. Its restructuring and capital solutions business provides advice on financial restructuring, liability management, distressed situations and related capital structure issues.