PJT Partners (NYSE:PJT) Given New $152.00 Price Target at Keefe, Bruyette & Woods

PJT Partners (NYSE:PJT) had its price target lowered by Keefe, Bruyette & Woods from $159.00 to $152.00 in a research note issued to investors on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider’s stock.

PJT has been the topic of a number of other research reports. UBS Group raised shares of PJT Partners from a “sell” rating to a “neutral” rating and raised their target price for the stock from $130.00 to $175.00 in a report on Friday, December 6th. JMP Securities downgraded PJT Partners from an “outperform” rating to a “market perform” rating in a report on Monday.

PJT Partners Trading Down 1.6 %

PJT stock opened at $152.15 on Monday. The stock’s 50 day simple moving average is $159.27 and its 200 day simple moving average is $138.39. PJT Partners has a 12-month low of $88.51 and a 12-month high of $168.92. The firm has a market cap of $3.61 billion, a P/E ratio of 38.62 and a beta of 0.66.

PJT Partners (NYSE:PJT) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share for the quarter, topping 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 analysts’ expectations of $313.46 million. During the same period in the prior year, the company earned $0.78 earnings per share. The firm’s revenue was up 17.2% compared to the same quarter last year. On average, research analysts forecast that PJT Partners will post 4.4 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Wednesday, December 4th. PJT Partners’s payout ratio is 25.38%.

Insiders Place Their Bets

In related news, General Counsel David Adam Travin sold 1,541 shares of PJT Partners stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $159.18, for a total transaction of $245,296.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Costos sold 1,500 shares of the stock in a transaction dated 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 transaction, the director now owns 9,360 shares of the company’s stock, valued at $1,510,797.60. This represents a 13.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,766 shares of company stock worth $762,980. Insiders own 11.71% of the company’s stock.

Institutional Trading of PJT Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC acquired a new position in shares of PJT Partners during the third quarter valued at approximately $453,000. Citigroup Inc. boosted its stake in PJT Partners by 101.1% during the 3rd quarter. Citigroup Inc. now owns 30,103 shares of the financial services provider’s stock valued at $4,014,000 after purchasing an additional 15,135 shares in the last quarter. Geode Capital Management LLC increased its position in shares of PJT Partners by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 619,037 shares of the financial services provider’s stock valued at $82,556,000 after purchasing an additional 45,327 shares during the period. Atria Investments Inc raised its stake in shares of PJT Partners by 5.9% in the 3rd quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider’s stock worth $342,000 after buying an additional 142 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of PJT Partners by 5.4% in the third quarter. Raymond James & Associates now owns 115,268 shares of the financial services provider’s stock valued at $15,370,000 after buying an additional 5,929 shares during the period. 89.23% of the stock is currently owned by institutional investors.

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.