Vanguard Group Inc. Reduces Position in PJT Partners Inc. $PJT

Vanguard Group Inc. decreased its holdings in PJT Partners Inc. (NYSE:PJT) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,512,963 shares of the financial services provider’s stock after selling 42,181 shares during the period. Vanguard Group Inc. owned 0.10% of PJT Partners worth $446,629,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CWM LLC lifted its position in shares of PJT Partners by 50.8% during the third quarter. CWM LLC now owns 181 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 61 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in shares of PJT Partners in the third quarter worth about $41,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in PJT Partners by 75.9% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 285 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 123 shares in the last quarter. State of Wyoming purchased a new stake in PJT Partners in the 2nd quarter worth approximately $63,000. Finally, Federated Hermes Inc. grew its position in shares of PJT Partners by 307.8% during the 3rd quarter. Federated Hermes Inc. now owns 526 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 397 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

PJT Partners Stock Down 0.6%

NYSE PJT opened at $149.24 on Thursday. The company has a 50-day simple moving average of $169.91 and a two-hundred day simple moving average of $173.25. PJT Partners Inc. has a 12-month low of $119.76 and a 12-month high of $195.62. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 22.48 and a beta of 0.82.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, February 3rd. The financial services provider reported $2.55 earnings per share for the quarter, beating analysts’ consensus estimates of $2.41 by $0.14. The company had revenue of $535.16 million during the quarter, compared to analyst estimates of $533.32 million. PJT Partners had a return on equity of 32.98% and a net margin of 10.51%.PJT Partners’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.90 EPS. Equities analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, March 4th. PJT Partners’s dividend payout ratio is 15.06%.

Analyst Ratings Changes

Several research firms recently commented on PJT. Zacks Research cut PJT Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Keefe, Bruyette & Woods raised their price objective on shares of PJT Partners from $186.00 to $188.00 and gave the company a “market perform” rating in a research report on Thursday, January 8th. Wolfe Research reiterated an “underperform” rating and issued a $150.00 target price on shares of PJT Partners in a research report on Wednesday, January 7th. The Goldman Sachs Group lowered their price target on PJT Partners from $197.00 to $174.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Finally, UBS Group began coverage on PJT Partners in a report on Thursday, December 11th. They issued a “neutral” rating and a $180.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, PJT Partners presently has a consensus rating of “Hold” and a consensus target price of $179.50.

About PJT Partners

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.