Point72 Asset Management L.P. Invests $13.80 Million in PJT Partners Inc. (NYSE:PJT)

Point72 Asset Management L.P. bought a new position in shares of PJT Partners Inc. (NYSE:PJT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 127,915 shares of the financial services provider’s stock, valued at approximately $13,803,000. Point72 Asset Management L.P. owned 0.54% of PJT Partners at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. SouthState Corp bought a new stake in shares of PJT Partners in the second quarter worth $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of PJT Partners in the second quarter valued at about $30,000. Fidelis Capital Partners LLC bought a new position in shares of PJT Partners during the first quarter worth about $39,000. EntryPoint Capital LLC boosted its holdings in PJT Partners by 27.6% in the first quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider’s stock valued at $157,000 after acquiring an additional 359 shares during the last quarter. Finally, Shell Asset Management Co. raised its holdings in PJT Partners by 41.0% during the 1st quarter. Shell Asset Management Co. now owns 2,074 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 603 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

PJT Partners Stock Down 0.3 %

Shares of NYSE:PJT opened at $133.37 on Tuesday. The stock’s 50 day moving average is $124.46 and its 200-day moving average is $109.85. PJT Partners Inc. has a twelve month low of $71.47 and a twelve month high of $137.19. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 36.74 and a beta of 0.61.

PJT Partners (NYSE:PJT) last posted its earnings results 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 the consensus estimate of $281.93 million. PJT Partners had a net margin of 7.96% and a return on equity of 18.04%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 earnings per share. Equities research analysts anticipate that PJT Partners Inc. will post 4.35 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.75%. PJT Partners’s payout ratio is 27.55%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PJT. UBS Group increased their price objective on shares of PJT Partners from $85.00 to $93.00 and gave the stock a “sell” rating in a research report on Tuesday, July 9th. The Goldman Sachs Group upped their target price on PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $128.00 target price (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. Finally, JMP Securities increased their price target on PJT Partners from $120.00 to $142.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $116.80.

Insider Buying and Selling

In other news, Director Emily K. Rafferty sold 1,696 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $130.79, for a total value of $221,819.84. Following the completion of the sale, the director now owns 7,404 shares in the company, valued at approximately $968,369.16. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other PJT Partners 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 value of $221,819.84. Following the completion of the sale, the director now directly owns 7,404 shares of the company’s stock, valued at approximately $968,369.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $251,592.90. Following the transaction, the director now directly owns 500 shares in the company, valued at approximately $62,430. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,297 shares of company stock worth $3,092,668. 10.67% of the stock is owned by corporate insiders.

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.