JPMorgan Chase & Co. Increases Stock Holdings in PJT Partners Inc. (NYSE:PJT)

JPMorgan Chase & Co. raised its position in shares of PJT Partners Inc. (NYSE:PJT) by 91.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 72,270 shares of the financial services provider’s stock after purchasing an additional 34,514 shares during the quarter. JPMorgan Chase & Co. owned 0.30% of PJT Partners worth $9,636,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PJT. Point72 Asset Management L.P. purchased a new stake in shares of PJT Partners in the 2nd quarter worth $13,803,000. Congress Asset Management Co. increased its position in PJT Partners by 29.6% in the third quarter. Congress Asset Management Co. now owns 317,974 shares of the financial services provider’s stock worth $42,399,000 after buying an additional 72,582 shares in the last quarter. State Street Corp raised its stake in shares of PJT Partners by 5.7% in the third quarter. State Street Corp now owns 1,001,911 shares of the financial services provider’s stock worth $133,595,000 after buying an additional 54,071 shares during the period. Marshall Wace LLP purchased a new position in shares of PJT Partners during the 2nd quarter valued at about $5,801,000. Finally, Geode Capital Management LLC grew its stake 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 acquiring an additional 45,327 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Stock Performance

Shares of PJT Partners stock opened at $152.15 on Tuesday. The stock has a 50 day moving average price of $159.27 and a 200-day moving average price of $138.39. PJT Partners Inc. has a one year low of $88.51 and a one year high of $168.92. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of 38.62 and a beta of 0.66.

PJT Partners (NYSE:PJT) last posted its quarterly earnings data 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 analyst estimates of $313.46 million. During the same period in the prior year, the company posted $0.78 EPS. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. Sell-side analysts predict that PJT Partners Inc. will post 4.4 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on PJT. UBS Group raised shares of PJT Partners from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $130.00 to $175.00 in a research note on Friday, December 6th. Keefe, Bruyette & Woods decreased their price target on PJT Partners from $159.00 to $152.00 and set a “market perform” rating on the stock in a report on Monday. Finally, JMP Securities lowered PJT Partners from an “outperform” rating to a “market perform” rating in a research note on Monday.

Insider Activity at PJT Partners

In other news, Director Kenneth C. Whitney sold 1,725 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total value of $275,568.75. Following the completion of the transaction, the director now directly owns 9,100 shares of the company’s stock, valued at approximately $1,453,725. The trade was a 15.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director James Costos sold 1,500 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $161.41, for a total value of $242,115.00. Following the sale, the director now directly owns 9,360 shares in the company, valued at approximately $1,510,797.60. The trade was a 13.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,766 shares of company stock worth $762,980 over the last three months. 11.71% of the stock is owned by corporate insiders.

PJT Partners 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.