5,300 Shares in PJT Partners Inc. (PJT) Purchased by UBS Asset Management Americas Inc.
UBS Asset Management Americas Inc. purchased a new stake in PJT Partners Inc. (NYSE:PJT) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,300 shares of the financial services provider’s stock, valued at approximately $213,000.
Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of PJT Partners by 8.6% in the 1st quarter. Vanguard Group Inc. now owns 655,792 shares of the financial services provider’s stock valued at $23,012,000 after purchasing an additional 51,795 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of PJT Partners by 32.3% in the 1st quarter. Renaissance Technologies LLC now owns 377,200 shares of the financial services provider’s stock valued at $13,236,000 after purchasing an additional 92,100 shares in the last quarter. Gamco Investors INC. ET AL increased its stake in shares of PJT Partners by 1.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 180,253 shares of the financial services provider’s stock valued at $7,250,000 after purchasing an additional 2,500 shares in the last quarter. Morgan Stanley increased its stake in shares of PJT Partners by 5.7% in the 1st quarter. Morgan Stanley now owns 152,620 shares of the financial services provider’s stock valued at $5,356,000 after purchasing an additional 8,254 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of PJT Partners by 2.5% in the 1st quarter. Geode Capital Management LLC now owns 142,056 shares of the financial services provider’s stock valued at $4,984,000 after purchasing an additional 3,432 shares in the last quarter. Hedge funds and other institutional investors own 59.10% of the company’s stock.
Several equities analysts recently weighed in on the company. Zacks Investment Research lowered PJT Partners from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. JMP Securities assumed coverage on PJT Partners in a research note on Monday, September 18th. They issued an “outperform” rating and a $45.00 price target for the company. Finally, BidaskClub lowered PJT Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Three analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. PJT Partners presently has a consensus rating of “Hold” and a consensus price target of $45.67.
PJT Partners Inc. (NYSE PJT) opened at $38.20 on Friday. PJT Partners Inc. has a 52 week low of $26.84 and a 52 week high of $45.38. The firm has a market capitalization of $707.58, a PE ratio of 26.34, a P/E/G ratio of 1.57 and a beta of 0.36.
PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.07). PJT Partners had a net margin of 2.41% and a negative return on equity of 75.04%. The business had revenue of $109.31 million during the quarter. analysts forecast that PJT Partners Inc. will post 1.48 earnings per share for the current year.
PJT Partners announced that its board has approved a stock buyback program on Tuesday, October 31st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.20 annualized dividend and a yield of 0.52%. PJT Partners’s dividend payout ratio (DPR) is currently 33.90%.
In other news, Director Dennis S. Hersch acquired 2,000 shares of the business’s stock in a transaction on Monday, August 14th. The stock was bought at an average cost of $38.45 per share, for a total transaction of $76,900.00. Following the purchase, the director now owns 18,000 shares in the company, valued at $692,100. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.30% of the stock is currently owned by insiders.
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PJT Partners Company Profile
PJT Partners Inc is an advisory-focused investment bank. The Company offers an array of strategic advisory, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors and governments. It provides, through Park Hill Group, private fund advisory and placement services for alternative investment managers, including private equity funds, real estate funds and hedge funds.
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