Anchor Capital Advisors LLC Cuts Stock Position in PJT Partners Inc. (NYSE:PJT)

Anchor Capital Advisors LLC cut its holdings in PJT Partners Inc. (NYSE:PJT) by 31.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,566 shares of the financial services provider’s stock after selling 7,192 shares during the quarter. Anchor Capital Advisors LLC owned 0.07% of PJT Partners worth $1,467,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fidelis Capital Partners LLC purchased a new position in PJT Partners during the first quarter worth $39,000. M&T Bank Corp purchased a new position in PJT Partners during the fourth quarter worth $217,000. Cerity Partners LLC purchased a new position in PJT Partners during the fourth quarter worth $219,000. Everence Capital Management Inc. purchased a new position in PJT Partners during the fourth quarter worth $222,000. Finally, Virtu Financial LLC purchased a new position in PJT Partners during the fourth quarter worth $223,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

PJT Partners Price Performance

Shares of NYSE:PJT traded up $3.22 on Monday, hitting $116.37. 45,325 shares of the company’s stock were exchanged, compared to its average volume of 251,490. The business’s 50 day simple moving average is $105.46 and its two-hundred day simple moving average is $100.28. The stock has a market capitalization of $2.79 billion, a price-to-earnings ratio of 31.17 and a beta of 0.62. PJT Partners Inc. has a 12 month low of $71.47 and a 12 month high of $117.14.

PJT Partners (NYSE:PJT) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.53. The firm had revenue of $329.39 million during the quarter, compared to the consensus estimate of $229.32 million. PJT Partners had a return on equity of 17.36% and a net margin of 7.57%. The firm’s quarterly revenue was up 64.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share. Equities analysts forecast that PJT Partners Inc. will post 4 EPS for the current fiscal year.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.00 annualized dividend and a yield of 0.86%. PJT Partners’s dividend payout ratio (DPR) is presently 27.55%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PJT. UBS Group lifted their price objective on shares of PJT Partners from $85.00 to $93.00 and gave the stock a “sell” rating in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods lifted their target price on PJT Partners from $99.00 to $108.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, JMP Securities reiterated a “market outperform” rating and set a $110.00 target price on shares of PJT Partners in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $99.80.

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.