UBS Group Increases PJT Partners (NYSE:PJT) Price Target to $93.00

PJT Partners (NYSE:PJT) had its price target boosted by UBS Group from $85.00 to $93.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a sell rating on the financial services provider’s stock.

Separately, JMP Securities reiterated a market outperform rating and issued a $110.00 price target on shares of PJT Partners in a research note on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $99.80.

PJT Partners Stock Performance

Shares of PJT opened at $113.16 on Tuesday. The stock has a market capitalization of $2.71 billion, a PE ratio of 31.17 and a beta of 0.62. PJT Partners has a 1 year low of $71.47 and a 1 year high of $114.09. The company’s 50-day simple moving average is $105.46 and its 200-day simple moving average is $100.31.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.53. The business had revenue of $329.39 million for the quarter, compared to analysts’ expectations of $229.32 million. PJT Partners had a net margin of 7.57% and a return on equity of 17.36%. The business’s quarterly revenue was up 64.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. On average, sell-side analysts predict that PJT Partners will post 4 earnings per share for the current year.

PJT Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Wednesday, June 5th. PJT Partners’s dividend payout ratio (DPR) is presently 27.55%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC increased its position in PJT Partners by 11,553.8% during the 4th quarter. Hsbc Holdings PLC now owns 510,089 shares of the financial services provider’s stock worth $52,120,000 after purchasing an additional 505,712 shares in the last quarter. Champlain Investment Partners LLC purchased a new stake in PJT Partners during the 1st quarter worth about $43,029,000. Vanguard Group Inc. increased its position in PJT Partners by 15.0% during the 4th quarter. Vanguard Group Inc. now owns 2,429,691 shares of the financial services provider’s stock worth $247,513,000 after purchasing an additional 317,437 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in PJT Partners during the 3rd quarter worth about $14,387,000. Finally, Principal Financial Group Inc. grew its holdings in PJT Partners by 934.8% in the 4th quarter. Principal Financial Group Inc. now owns 129,872 shares of the financial services provider’s stock valued at $13,230,000 after buying an additional 117,322 shares during the period. Institutional investors and hedge funds 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.