PJT Partners Inc. (NYSE:PJT) to Issue Quarterly Dividend of $0.25

PJT Partners Inc. (NYSE:PJT) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Stockholders of record on Wednesday, December 4th will be paid a dividend of 0.25 per share by the financial services provider on Wednesday, December 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Wednesday, December 4th.

PJT Partners has increased its dividend by an average of 71.0% annually over the last three years. PJT Partners has a payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PJT Partners to earn $5.40 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 18.5%.

PJT Partners Price Performance

PJT traded down $1.65 during trading hours on Wednesday, hitting $137.02. 47,832 shares of the stock were exchanged, compared to its average volume of 231,492. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 37.98 and a beta of 0.61. The stock has a 50-day simple moving average of $132.45 and a 200-day simple moving average of $116.96. PJT Partners has a 12 month low of $76.22 and a 12 month high of $151.10.

PJT Partners (NYSE:PJT) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.19. PJT Partners had a net margin of 7.96% and a return on equity of 18.04%. The company had revenue of $326.30 million for the quarter, compared to the consensus estimate of $313.46 million. During the same period last year, the firm posted $0.78 EPS. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. Sell-side analysts expect that PJT Partners will post 4.35 EPS for the current year.

Insider Transactions at PJT Partners

In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the firm’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 transaction, the insider now owns 61,433 shares of the company’s stock, valued at approximately $7,301,312.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ji-Yeun Lee sold 10,000 shares of the firm’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 transaction, the insider now owns 61,433 shares of the company’s stock, valued at approximately $7,301,312.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,297 shares of company stock valued at $3,092,668. 10.67% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.