PJT Partners Inc. (NYSE:PJT) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of PJT Partners Inc. (NYSE:PJT) have been given a consensus recommendation of “Reduce” by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $116.80.

Several equities research analysts recently commented on PJT shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $128.00 price target (up previously from $108.00) on shares of PJT Partners in a research note on Wednesday, July 31st. JMP Securities boosted their target price on shares of PJT Partners from $120.00 to $142.00 and gave the stock a “market outperform” rating in a research report on Wednesday, July 31st. UBS Group raised their price target on shares of PJT Partners from $85.00 to $93.00 and gave the company a “sell” rating in a report on Tuesday, July 9th. Finally, The Goldman Sachs Group upped their price objective on shares of PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st.

PJT Partners Stock Performance

PJT stock opened at $137.33 on Monday. The firm has a 50 day simple moving average of $125.63 and a 200 day simple moving average of $111.17. PJT Partners has a 52 week low of $71.47 and a 52 week high of $137.50. The stock has a market cap of $3.27 billion, a P/E ratio of 37.83 and a beta of 0.61.

PJT Partners (NYSE:PJT) last issued its earnings results on Tuesday, July 30th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.49. PJT Partners had a net margin of 7.96% and a return on equity of 18.04%. The company had revenue of $360.00 million during the quarter, compared to analyst estimates of $281.93 million. During the same quarter last year, the business posted $0.99 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Sell-side analysts predict that PJT Partners will post 4.35 EPS for the current year.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 4th. This represents a $1.00 annualized dividend and a yield of 0.73%. PJT Partners’s dividend payout ratio is 27.55%.

Insider Activity

In related news, Director Emily K. Rafferty sold 1,696 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $130.79, for a total transaction of $221,819.84. Following the sale, the director now directly owns 7,404 shares in the company, valued at $968,369.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other PJT Partners news, Director Kievdi Don Cornwell sold 11,586 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the transaction, the director now directly owns 8,339 shares in the company, valued at approximately $1,029,783.11. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Emily K. Rafferty sold 1,696 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $130.79, for a total transaction of $221,819.84. Following the completion of the transaction, the director now directly owns 7,404 shares in the company, valued at approximately $968,369.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,297 shares of company stock worth $3,092,668. Insiders own 10.67% of the company’s stock.

Institutional Investors Weigh In On PJT Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Illinois Municipal Retirement Fund bought a new stake in PJT Partners in the first quarter valued at approximately $1,262,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of PJT Partners by 36.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 85,049 shares of the financial services provider’s stock valued at $8,017,000 after buying an additional 22,556 shares in the last quarter. Champlain Investment Partners LLC acquired a new stake in PJT Partners during the 1st quarter worth $43,029,000. BNP Paribas Financial Markets grew its stake in PJT Partners by 116.0% in the first quarter. BNP Paribas Financial Markets now owns 41,251 shares of the financial services provider’s stock valued at $3,888,000 after acquiring an additional 22,157 shares during the period. Finally, FORA Capital LLC acquired a new position in PJT Partners in the first quarter valued at about $647,000. Institutional investors own 89.23% of the company’s stock.

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.