Keefe, Bruyette & Woods Issues Positive Forecast for PJT Partners (NYSE:PJT) Stock Price

PJT Partners (NYSE:PJT) had its target price hoisted by Keefe, Bruyette & Woods from $151.00 to $159.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on the stock. UBS Group upgraded shares of PJT Partners from a “sell” rating to a “neutral” rating and raised their target price for the stock from $130.00 to $175.00 in a research note on Friday, December 6th. JMP Securities boosted their price objective on PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $141.00.

PJT Partners Trading Up 1.7 %

NYSE:PJT opened at $155.41 on Friday. The company has a 50-day moving average price of $154.70 and a 200-day moving average price of $132.12. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 39.44 and a beta of 0.65. PJT Partners has a 12 month low of $88.51 and a 12 month high of $168.92.

PJT Partners (NYSE:PJT) last issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. The business had revenue of $326.30 million for the quarter, compared to the consensus estimate of $313.46 million. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The company’s revenue was up 17.2% compared to the same quarter last year. During the same period last year, the business posted $0.78 EPS. Equities analysts forecast that PJT Partners will post 4.4 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.64%. The ex-dividend date was Wednesday, December 4th. PJT Partners’s dividend payout ratio (DPR) is 25.38%.

Insiders Place Their Bets

In related news, Director Kenneth C. Whitney sold 1,725 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total transaction of $275,568.75. Following the sale, the director now directly owns 9,100 shares of the company’s stock, valued at $1,453,725. This represents a 15.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Costos sold 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $161.41, for a total transaction 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. Over the last quarter, insiders sold 4,766 shares of company stock worth $762,980. Company insiders own 11.71% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC purchased a new position in PJT Partners in the third quarter valued at about $453,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of PJT Partners by 24.5% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 105,894 shares of the financial services provider’s stock valued at $11,427,000 after purchasing an additional 20,845 shares in the last quarter. Citigroup Inc. grew its stake in PJT Partners by 101.1% in the third quarter. Citigroup Inc. now owns 30,103 shares of the financial services provider’s stock worth $4,014,000 after purchasing an additional 15,135 shares in the last quarter. Atria Investments Inc lifted its stake in PJT Partners by 5.9% during the third quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider’s stock worth $342,000 after purchasing an additional 142 shares during the last quarter. Finally, AdvisorShares Investments LLC acquired a new position in shares of PJT Partners in the 2nd quarter valued at about $535,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

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.