PJT Partners Inc. (NYSE:PJT) Position Increased by Ieq Capital LLC

Ieq Capital LLC increased its stake in shares of PJT Partners Inc. (NYSE:PJT) by 28.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,474 shares of the financial services provider’s stock after buying an additional 5,705 shares during the quarter. Ieq Capital LLC owned about 0.11% of PJT Partners worth $2,749,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. SouthState Corp bought a new position in shares of PJT Partners during the second quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of PJT Partners in the second quarter valued at approximately $30,000. Fidelis Capital Partners LLC bought a new stake in shares of PJT Partners during the first quarter valued at approximately $39,000. EntryPoint Capital LLC boosted its position in shares of PJT Partners by 27.6% during the first quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider’s stock worth $157,000 after buying an additional 359 shares during the period. Finally, OLD National Bancorp IN bought a new position in PJT Partners in the 2nd quarter worth approximately $204,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PJT. UBS Group lifted their target price on PJT Partners from $85.00 to $93.00 and gave the company a “sell” rating in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $128.00 price objective (up from $108.00) on shares of PJT Partners in a research note on Wednesday, July 31st. The Goldman Sachs Group increased their target price 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. Finally, JMP Securities upped their price target on shares of PJT Partners from $120.00 to $142.00 and gave the stock a “market outperform” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, PJT Partners has an average rating of “Hold” and a consensus price target of $116.80.

Insider Buying and Selling

In related news, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction on 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 transaction, the insider now owns 61,433 shares in the company, valued at approximately $7,301,312.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the completion of the sale, the insider now directly owns 61,433 shares of the company’s stock, valued at $7,301,312.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 transaction, the director now directly owns 8,339 shares in the company, valued at $1,029,783.11. The disclosure for this sale can be found here. Insiders have sold 25,297 shares of company stock worth $3,092,668 in the last three months. 10.67% of the stock is currently owned by insiders.

PJT Partners Stock Performance

Shares of NYSE PJT opened at $135.39 on Friday. PJT Partners Inc. has a twelve month low of $71.47 and a twelve month high of $137.06. The firm has a 50-day moving average of $122.82 and a two-hundred day moving average of $108.52. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 37.30 and a beta of 0.61.

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

PJT Partners Announces Dividend

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

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.