PJT Partners Inc. (NYSE:PJT) Receives Average Rating of “Reduce” from Brokerages

Shares of PJT Partners Inc. (NYSE:PJT) have been assigned an average rating of “Reduce” from the six ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $123.80.

PJT has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $128.00 target price (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. UBS Group boosted their price objective on PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. JMP Securities raised their target price on PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group lifted their price target on PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st.

Insider Buying and Selling

In other PJT Partners news, Director Kenneth C. Whitney sold 1,725 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total transaction of $275,568.75. Following the completion of the sale, the director now owns 9,100 shares in the company, valued at approximately $1,453,725. The trade was a 15.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James Costos sold 1,500 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $161.41, for a total value of $242,115.00. Following the completion of the transaction, the director now owns 9,360 shares in the company, valued at $1,510,797.60. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,352 shares of company stock worth $3,382,235 over the last three months. 11.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PJT Partners

Hedge funds have recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC bought a new stake in shares of PJT Partners in the 3rd quarter valued at about $453,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in PJT Partners by 24.5% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 105,894 shares of the financial services provider’s stock valued at $11,427,000 after purchasing an additional 20,845 shares in the last quarter. Atria Investments Inc raised its holdings in PJT Partners by 5.9% in the third quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 142 shares during the period. AdvisorShares Investments LLC bought a new position in shares of PJT Partners during the second quarter worth $535,000. Finally, Raymond James & Associates boosted its position in shares of PJT Partners by 5.4% during the third quarter. Raymond James & Associates now owns 115,268 shares of the financial services provider’s stock worth $15,370,000 after purchasing an additional 5,929 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Price Performance

PJT Partners stock opened at $167.00 on Tuesday. The firm has a market capitalization of $3.96 billion, a P/E ratio of 42.39 and a beta of 0.61. The stock has a fifty day moving average price of $144.06 and a two-hundred day moving average price of $124.36. PJT Partners has a 52-week low of $85.87 and a 52-week high of $168.92.

PJT Partners (NYSE:PJT) last announced its 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 business had revenue of $326.30 million during 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%. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter last year, the company posted $0.78 EPS. On average, equities research analysts predict that PJT Partners will post 4.4 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Wednesday, December 4th. PJT Partners’s dividend payout ratio (DPR) is presently 25.38%.

About PJT Partners

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.