PJT Partners Inc. (NYSE:PJT) Announces $0.25 Quarterly Dividend

PJT Partners Inc. (NYSE:PJT) declared a quarterly dividend on Tuesday, October 29th,Zacks Dividends reports. Investors of record on Wednesday, December 4th will be paid a dividend of 0.25 per share by the financial services provider on Wednesday, December 18th. 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 has increased its dividend by an average of 71.0% per year over the last three years. PJT Partners has a payout ratio of 18.9% meaning its dividend is sufficiently covered by earnings. Analysts expect PJT Partners to earn $5.40 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 18.5%.

PJT Partners Stock Performance

NYSE PJT opened at $167.36 on Monday. The firm has a market capitalization of $3.97 billion, a P/E ratio of 42.48 and a beta of 0.61. The stock has a 50-day simple moving average of $147.49 and a two-hundred day simple moving average of $126.66. PJT Partners has a fifty-two week low of $85.98 and a fifty-two week high of $168.92.

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

Insider Activity

In other PJT Partners news, 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 transaction, the director now owns 9,360 shares of the company’s stock, valued at approximately $1,510,797.60. The trade was a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel David Adam Travin sold 1,541 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $159.18, for a total value of $245,296.38. The disclosure for this sale can be found here. Insiders have sold a total of 14,766 shares of company stock worth $1,951,480 over the last quarter. 11.71% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. UBS Group upped their price objective on shares of PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a research report on Tuesday, October 8th. JMP Securities lifted their price target on shares of PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $123.80.

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.