PJT Partners Inc. (NYSE:PJT) Stake Boosted by New York State Teachers Retirement System

New York State Teachers Retirement System increased its position in shares of PJT Partners Inc. (NYSE:PJT) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,688 shares of the financial services provider’s stock after purchasing an additional 100 shares during the quarter. New York State Teachers Retirement System’s holdings in PJT Partners were worth $1,425,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System lifted its stake in PJT Partners by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the financial services provider’s stock valued at $1,198,000 after buying an additional 100 shares during the last quarter. American Century Companies Inc. lifted its stake in PJT Partners by 0.8% in the second quarter. American Century Companies Inc. now owns 14,837 shares of the financial services provider’s stock valued at $1,601,000 after buying an additional 120 shares during the last quarter. AQR Capital Management LLC lifted its stake in PJT Partners by 3.3% in the second quarter. AQR Capital Management LLC now owns 4,207 shares of the financial services provider’s stock valued at $454,000 after buying an additional 136 shares during the last quarter. Sei Investments Co. lifted its stake in PJT Partners by 1.4% in the second quarter. Sei Investments Co. now owns 10,458 shares of the financial services provider’s stock valued at $1,129,000 after buying an additional 141 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in PJT Partners by 76.4% in the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock valued at $45,000 after buying an additional 146 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

PJT Partners Stock Up 0.2 %

NYSE:PJT opened at $159.39 on Friday. PJT Partners Inc. has a 1-year low of $81.25 and a 1-year high of $163.54. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 40.45 and a beta of 0.61. The stock has a fifty day simple moving average of $136.23 and a 200 day simple moving average of $119.84.

PJT Partners (NYSE:PJT) last released 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 return on equity of 18.79% and a net margin of 8.03%. The business had revenue of $326.30 million during the quarter, compared to analyst estimates of $313.46 million. During the same quarter last year, the company posted $0.78 EPS. PJT Partners’s revenue for the quarter was up 17.2% on a year-over-year basis. Equities analysts predict that PJT Partners Inc. will post 4.4 earnings per share 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 issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.63%. PJT Partners’s dividend payout ratio is 25.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PJT shares. JMP Securities raised 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. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $128.00 price target (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. UBS Group raised their price target on PJT Partners from $110.00 to $120.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. Finally, The Goldman Sachs Group raised their price target on PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $123.80.

Insider Activity

In other 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other PJT Partners news, Director Grace Reksten Skaugen sold 2,015 shares of PJT Partners stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $124.86, for a total value of $251,592.90. Following the transaction, the director now directly owns 500 shares of the company’s stock, valued at $62,430. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel David Adam Travin sold 1,541 shares of PJT Partners stock in a transaction that occurred 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 sold a total of 26,642 shares of company stock worth $3,358,259 in the last three months. 11.71% of the stock is owned by insiders.

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.