Intech Investment Management LLC Takes Position in PJT Partners Inc. (NYSE:PJT)

Intech Investment Management LLC acquired a new stake in shares of PJT Partners Inc. (NYSE:PJT) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,170 shares of the financial services provider’s stock, valued at approximately $689,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SouthState Corp bought a new stake in shares of PJT Partners during the 2nd quarter valued at $26,000. Opal Wealth Advisors LLC purchased a new stake in PJT Partners during the second quarter valued at $30,000. GAMMA Investing LLC increased its stake in PJT Partners by 76.4% during the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 146 shares during the last quarter. KBC Group NV raised its holdings in PJT Partners by 113.0% during the 3rd quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock valued at $107,000 after buying an additional 426 shares during the period. Finally, OLD National Bancorp IN bought a new stake in shares of PJT Partners in the 2nd quarter worth about $204,000. 89.23% of the stock is currently owned by institutional investors.

PJT Partners Trading Up 1.3 %

Shares of PJT opened at $167.36 on Friday. The firm’s fifty day simple moving average is $147.49 and its 200-day simple moving average is $126.30. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 42.48 and a beta of 0.61. PJT Partners Inc. has a twelve month low of $85.98 and a twelve month high of $168.92.

PJT Partners (NYSE:PJT) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 EPS 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 company had revenue of $326.30 million for the quarter, compared to analyst estimates of $313.46 million. During the same period in the previous year, the business posted $0.78 earnings per share. PJT Partners’s quarterly revenue was up 17.2% on a year-over-year basis. On average, analysts predict that PJT Partners Inc. will post 4.4 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The business 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 $0.25 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.60%. PJT Partners’s dividend payout ratio (DPR) is 25.38%.

Analysts Set New Price Targets

Several research analysts recently commented on PJT shares. 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. 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 note on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, PJT Partners currently has a consensus rating of “Hold” and a consensus target price of $123.80.

Insider Buying and Selling at PJT Partners

In other news, Director Kenneth C. Whitney sold 1,725 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total transaction of $275,568.75. Following the completion of the sale, the director now directly owns 9,100 shares in the company, valued at $1,453,725. This trade represents a 15.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James Costos sold 1,500 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $161.41, for a total transaction of $242,115.00. Following the completion of the sale, the director now directly owns 9,360 shares in the company, valued at $1,510,797.60. This represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,766 shares of company stock worth $1,951,480. Corporate insiders own 11.71% 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.