Maryland State Retirement & Pension System Sells 3,686 Shares of PJT Partners Inc. $PJT

Maryland State Retirement & Pension System trimmed its stake in PJT Partners Inc. (NYSE:PJT) by 51.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,494 shares of the financial services provider’s stock after selling 3,686 shares during the quarter. Maryland State Retirement & Pension System’s holdings in PJT Partners were worth $621,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PJT. Geode Capital Management LLC grew its stake in shares of PJT Partners by 2.5% in the second quarter. Geode Capital Management LLC now owns 674,958 shares of the financial services provider’s stock valued at $111,387,000 after buying an additional 16,591 shares in the last quarter. Congress Asset Management Co. raised its position in PJT Partners by 5.4% during the third quarter. Congress Asset Management Co. now owns 531,378 shares of the financial services provider’s stock worth $94,442,000 after acquiring an additional 27,232 shares in the last quarter. Alliancebernstein L.P. lifted its stake in PJT Partners by 9.8% in the second quarter. Alliancebernstein L.P. now owns 528,689 shares of the financial services provider’s stock valued at $87,239,000 after acquiring an additional 47,279 shares during the last quarter. Invesco Ltd. grew its position in shares of PJT Partners by 106.7% in the 2nd quarter. Invesco Ltd. now owns 520,056 shares of the financial services provider’s stock valued at $85,814,000 after acquiring an additional 268,435 shares during the period. Finally, Raymond James Financial Inc. increased its stake in shares of PJT Partners by 6.7% during the 2nd quarter. Raymond James Financial Inc. now owns 490,566 shares of the financial services provider’s stock worth $80,948,000 after purchasing an additional 30,860 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PJT shares. Keefe, Bruyette & Woods raised their target price on shares of PJT Partners from $186.00 to $188.00 and gave the company a “market perform” rating in a research note on Thursday, January 8th. Zacks Research lowered PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Wall Street Zen upgraded PJT Partners from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. BMO Capital Markets started coverage on PJT Partners in a report on Friday, October 3rd. They set an “outperform” rating and a $205.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PJT Partners in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $180.60.

PJT Partners Trading Up 0.2%

Shares of NYSE PJT opened at $191.62 on Friday. The firm has a market cap of $4.66 billion, a P/E ratio of 29.48 and a beta of 0.84. The business’s 50 day moving average is $173.15 and its 200-day moving average is $176.31. PJT Partners Inc. has a 1-year low of $119.76 and a 1-year high of $195.62.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Tuesday, November 4th. The financial services provider reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.61. PJT Partners had a return on equity of 29.66% and a net margin of 10.75%.The firm had revenue of $447.09 million for the quarter, compared to analyst estimates of $386.76 million. Analysts forecast that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 17th. Shareholders of record on Wednesday, December 3rd were paid a $0.25 dividend. The ex-dividend date was Wednesday, December 3rd. This represents a $1.00 annualized dividend and a yield of 0.5%. PJT Partners’s payout ratio is 15.38%.

PJT Partners Company Profile

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.