PJT Partners (NYSE:PJT) Given New $159.00 Price Target at Keefe, Bruyette & Woods

PJT Partners (NYSE:PJT) had its price target increased by Keefe, Bruyette & Woods from $151.00 to $159.00 in a research note released on Friday,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Several other research firms have also weighed in on PJT. JMP Securities lifted their price objective 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. UBS Group raised PJT Partners from a “sell” rating to a “neutral” rating and increased their target price for the stock from $130.00 to $175.00 in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given 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 $141.00.

PJT Partners Price Performance

NYSE PJT opened at $155.41 on Friday. PJT Partners has a 12 month low of $88.51 and a 12 month high of $168.92. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 39.44 and a beta of 0.65. The firm’s fifty day moving average price is $154.70 and its 200 day moving average price is $132.12.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The firm had revenue of $326.30 million during the quarter, compared to the consensus estimate of $313.46 million. During the same quarter last year, the firm earned $0.78 earnings per share. The firm’s revenue was up 17.2% compared to the same quarter last year. As a group, sell-side analysts forecast that PJT Partners will post 4.4 earnings per share for the current year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Wednesday, December 4th. PJT Partners’s dividend payout ratio is presently 25.38%.

Insider Buying and Selling

In other news, Director Kenneth C. Whitney sold 1,725 shares of the 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 of the company’s stock, valued at $1,453,725. This represents a 15.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Costos sold 1,500 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $161.41, for a total transaction of $242,115.00. Following the completion of the sale, the director now directly owns 9,360 shares in the company, valued at approximately $1,510,797.60. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,766 shares of company stock worth $762,980 in the last three months. Insiders own 11.71% of the company’s stock.

Hedge Funds Weigh In On PJT Partners

Several institutional investors and hedge funds have recently modified their holdings of PJT. SouthState Corp bought a new position in shares of PJT Partners in the 2nd quarter valued at $26,000. Quarry LP lifted its stake in PJT Partners by 186.3% in the third quarter. Quarry LP now owns 209 shares of the financial services provider’s stock valued at $28,000 after buying an additional 136 shares during the period. GAMMA Investing LLC boosted its stake in PJT Partners by 76.4% during the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 146 shares in the last quarter. KBC Group NV grew its stake in shares of PJT Partners by 113.0% in the 3rd quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock valued at $107,000 after buying an additional 426 shares during the period. Finally, nVerses Capital LLC bought a new stake in shares of PJT Partners during the third quarter valued at approximately $213,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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.