PJT Partners (NYSE:PJT) Sets New 12-Month High – Here’s What Happened

PJT Partners Inc. (NYSE:PJT)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $161.21 and last traded at $157.87, with a volume of 2858 shares changing hands. The stock had previously closed at $141.27.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PJT shares. UBS Group increased their target price on PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a research report on Tuesday, October 8th. The Goldman Sachs Group raised their price objective on PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. JMP Securities upped their target price on shares of PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $128.00 price target (up from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $123.80.

PJT Partners Stock Up 0.1 %

The company has a fifty day simple moving average of $136.23 and a 200 day simple moving average of $119.67. The firm has a market capitalization of $3.78 billion, a P/E ratio of 40.44 and a beta of 0.61.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. The company had revenue of $326.30 million for the quarter, compared to analysts’ expectations of $313.46 million. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. PJT Partners’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 EPS. As a group, equities analysts expect that PJT Partners Inc. will post 4.4 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Wednesday, December 4th. PJT Partners’s dividend payout ratio (DPR) is currently 25.38%.

Insider Buying and Selling

In other PJT Partners news, Director Kievdi Don Cornwell sold 11,586 shares of PJT Partners stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $123.49, for a total value of $1,430,755.14. Following the completion of the sale, the director now owns 8,339 shares of the company’s stock, valued at approximately $1,029,783.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Kievdi Don Cornwell sold 11,586 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $123.49, for a total value of $1,430,755.14. Following the sale, the director now owns 8,339 shares in the company, valued at approximately $1,029,783.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Ji-Yeun Lee sold 10,000 shares of PJT Partners stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the completion of the sale, the insider now directly owns 61,433 shares of the company’s stock, valued at approximately $7,301,312.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,642 shares of company stock worth $3,358,259 in the last three months. Insiders own 11.71% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PJT. SouthState Corp purchased a new stake in shares of PJT Partners during the 2nd quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new stake in PJT Partners during the second quarter valued at approximately $30,000. GAMMA Investing LLC increased its holdings in PJT Partners by 76.4% during the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock valued at $45,000 after buying an additional 146 shares during the last quarter. KBC Group NV raised its position in PJT Partners by 113.0% in the third quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock worth $107,000 after acquiring an additional 426 shares during the period. Finally, EntryPoint Capital LLC boosted its stake in shares of PJT Partners by 27.6% during the 1st quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider’s stock worth $157,000 after acquiring an additional 359 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

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.