PJT Partners Inc. (NYSE:PJT) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of PJT Partners Inc. (NYSE:PJT) have been assigned a consensus recommendation of “Reduce” from the six brokerages that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $123.80.

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

Insider Buying and Selling

In related news, General Counsel David Adam Travin sold 1,541 shares of PJT Partners stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $159.18, for a total transaction of $245,296.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ji-Yeun Lee sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total value of $1,188,500.00. Following the completion of the sale, the insider now owns 61,433 shares in the company, valued at $7,301,312.05. This represents a 14.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,352 shares of company stock worth $3,382,235. Insiders own 11.71% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PJT. Point72 Asset Management L.P. bought a new position in PJT Partners during the second quarter worth $13,803,000. Congress Asset Management Co. boosted its holdings in shares of PJT Partners by 29.6% during the 3rd quarter. Congress Asset Management Co. now owns 317,974 shares of the financial services provider’s stock worth $42,399,000 after buying an additional 72,582 shares during the period. State Street Corp grew its stake in PJT Partners by 5.7% in the 3rd quarter. State Street Corp now owns 1,001,911 shares of the financial services provider’s stock valued at $133,595,000 after buying an additional 54,071 shares during the last quarter. Marshall Wace LLP bought a new position in PJT Partners in the 2nd quarter valued at about $5,801,000. Finally, Geode Capital Management LLC lifted its position in PJT Partners by 7.9% during the third quarter. Geode Capital Management LLC now owns 619,037 shares of the financial services provider’s stock worth $82,556,000 after acquiring an additional 45,327 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

PJT Partners Price Performance

NYSE:PJT opened at $167.00 on Tuesday. The business’s 50-day simple moving average is $144.06 and its 200-day simple moving average is $124.36. PJT Partners has a fifty-two week low of $85.87 and a fifty-two week high of $168.92. The stock has a market capitalization of $3.96 billion, a PE ratio of 42.39 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 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 for the quarter, compared to analyst estimates of $313.46 million. During the same quarter in the previous year, the firm posted $0.78 earnings per share. The business’s revenue was up 17.2% on a year-over-year basis. On average, research analysts expect that PJT Partners will post 4.4 earnings per share for the current year.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Wednesday, December 4th. PJT Partners’s payout ratio is presently 25.38%.

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.