PJT Partners Inc. (NYSE:PJT) Shares Acquired by Prospector Partners LLC

Prospector Partners LLC lifted its holdings in PJT Partners Inc. (NYSE:PJT) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,840 shares of the financial services provider’s stock after acquiring an additional 610 shares during the quarter. Prospector Partners LLC owned 0.26% of PJT Partners worth $6,673,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Sei Investments Co. boosted its holdings 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 purchasing an additional 141 shares during the last quarter. Ieq Capital LLC boosted its stake in shares of PJT Partners by 28.9% in the second quarter. Ieq Capital LLC now owns 25,474 shares of the financial services provider’s stock worth $2,749,000 after buying an additional 5,705 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of PJT Partners by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 458,216 shares of the financial services provider’s stock worth $49,446,000 after buying an additional 22,117 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in PJT Partners by 13.6% during the second quarter. Envestnet Asset Management Inc. now owns 108,522 shares of the financial services provider’s stock worth $11,711,000 after acquiring an additional 12,991 shares during the period. Finally, BOKF NA raised its position in PJT Partners by 88.2% during the second quarter. BOKF NA now owns 5,461 shares of the financial services provider’s stock valued at $589,000 after acquiring an additional 2,560 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Price Performance

Shares of NYSE PJT opened at $135.39 on Friday. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 37.30 and a beta of 0.61. The company’s 50-day simple moving average is $122.82 and its 200-day simple moving average is $108.52. PJT Partners Inc. has a 52-week low of $71.47 and a 52-week high of $137.06.

PJT Partners (NYSE:PJT) last posted its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.70 by $0.49. The company had revenue of $360.00 million during the quarter, compared to analyst estimates of $281.93 million. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. PJT Partners’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 EPS. Equities research analysts anticipate that PJT Partners Inc. will post 4.35 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Wednesday, September 4th. PJT Partners’s payout ratio is 27.55%.

Analysts Set New Price Targets

Several equities research analysts have commented on PJT shares. UBS Group upped their price objective on PJT Partners from $85.00 to $93.00 and gave the stock a “sell” rating in a research report on Tuesday, July 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. JMP Securities lifted their price objective on shares of PJT Partners from $120.00 to $142.00 and gave the company a “market outperform” rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group increased their target price on shares of PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $116.80.

Insider Activity

In related news, Director Emily K. Rafferty sold 1,696 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $130.79, for a total transaction of $221,819.84. Following the completion of the sale, the director now owns 7,404 shares of the company’s stock, valued at approximately $968,369.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Emily K. Rafferty sold 1,696 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $130.79, for a total transaction of $221,819.84. Following the transaction, the director now directly owns 7,404 shares in the company, valued at approximately $968,369.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Ji-Yeun Lee sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 owns 61,433 shares of the company’s stock, valued at $7,301,312.05. The disclosure for this sale can be found here. Insiders sold 25,297 shares of company stock worth $3,092,668 over the last three months. Insiders own 10.67% of the company’s stock.

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.