Creative Planning Buys New Stake in PJT Partners Inc. (NYSE:PJT)

Creative Planning bought a new stake in shares of PJT Partners Inc. (NYSE:PJT) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,870 shares of the financial services provider’s stock, valued at approximately $310,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of PJT Partners by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 2,447,154 shares of the financial services provider’s stock valued at $230,669,000 after acquiring an additional 17,463 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in PJT Partners by 5.1% in the 2nd 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 in the last quarter. Champlain Investment Partners LLC acquired a new position in PJT Partners in the 1st quarter worth $43,029,000. Klingman & Associates LLC lifted its holdings in PJT Partners by 5.2% in the 1st quarter. Klingman & Associates LLC now owns 157,056 shares of the financial services provider’s stock worth $14,804,000 after buying an additional 7,754 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in PJT Partners by 5.5% in the 1st quarter. Principal Financial Group Inc. now owns 137,016 shares of the financial services provider’s stock worth $12,915,000 after buying an additional 7,144 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on PJT shares. The Goldman Sachs Group boosted their price objective on shares of PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $128.00 price objective (up previously from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. UBS Group boosted their price objective on shares of PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Finally, JMP Securities boosted their price objective on shares of PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $123.80.

PJT Partners Stock Performance

PJT Partners stock opened at $149.82 on Friday. The firm has a market cap of $3.59 billion, a PE ratio of 41.27 and a beta of 0.61. The firm’s 50 day moving average price is $129.09 and its two-hundred day moving average price is $114.03. PJT Partners Inc. has a twelve month low of $71.47 and a twelve month high of $151.10.

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 company’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.99 earnings per share. Equities analysts anticipate that PJT Partners Inc. will post 4.35 EPS for the current fiscal year.

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend was Wednesday, September 4th. PJT Partners’s dividend payout ratio (DPR) is presently 27.55%.

Insider Buying and Selling at PJT Partners

In other PJT Partners news, Director Emily K. Rafferty sold 1,696 shares of the 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 directly owns 7,404 shares of the company’s stock, valued at $968,369.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Ji-Yeun Lee sold 10,000 shares of the 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 owns 61,433 shares in the company, valued at $7,301,312.05. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Emily K. Rafferty sold 1,696 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $130.79, for a total transaction of $221,819.84. Following the sale, the director now owns 7,404 shares of the company’s stock, valued at $968,369.16. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,297 shares of company stock valued at $3,092,668 in the last ninety days. Company insiders own 10.67% 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.