PJT Partners (NYSE:PJT) Hits New 52-Week High – What’s Next?

Shares of PJT Partners Inc. (NYSE:PJT) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $165.19 and last traded at $164.71, with a volume of 955 shares traded. The stock had previously closed at $162.79.

Analyst Ratings Changes

PJT has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $128.00 price objective (up previously from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. JMP Securities increased their target price 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 increased their price objective on PJT Partners from $110.00 to $120.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th. Finally, The Goldman Sachs Group increased their price target on shares of PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $123.80.

PJT Partners Price Performance

The firm’s 50-day moving average is $144.06 and its two-hundred day moving average is $124.36. The company has a market cap of $3.95 billion, a P/E ratio of 42.31 and a beta of 0.61.

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

PJT Partners Announces Dividend

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

Insider Activity

In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was 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 directly owns 61,433 shares in the company, valued at approximately $7,301,312.05. This trade represents a 14.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kievdi Don Cornwell sold 11,586 shares of PJT Partners stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the completion of the sale, the director now owns 8,339 shares of the company’s stock, valued at $1,029,783.11. This trade represents a 58.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,352 shares of company stock worth $3,382,235. Corporate 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 the business. Point72 Asset Management L.P. acquired a new stake in PJT Partners in the 2nd quarter valued at $13,803,000. Congress Asset Management Co. raised its holdings in PJT Partners by 29.6% in the 3rd quarter. Congress Asset Management Co. now owns 317,974 shares of the financial services provider’s stock valued at $42,399,000 after acquiring an additional 72,582 shares during the last quarter. State Street Corp boosted its holdings in shares of PJT Partners by 5.7% during the 3rd quarter. State Street Corp now owns 1,001,911 shares of the financial services provider’s stock worth $133,595,000 after purchasing an additional 54,071 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of PJT Partners in the second quarter valued at approximately $5,801,000. Finally, Geode Capital Management LLC boosted its stake 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 buying an additional 45,327 shares during the last quarter. Hedge funds and other institutional investors 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.