Brokerages Set PJT Partners Inc. (NYSE:PJT) Price Target at $173.33

Shares of PJT Partners Inc. (NYSE:PJT) have been given a consensus rating of “Hold” by the seven research firms that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $173.3333.

PJT has been the subject of several analyst reports. The Goldman Sachs Group raised shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Wednesday, April 1st. Keefe, Bruyette & Woods raised their price target on shares of PJT Partners from $166.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a research note on Friday, May 29th. Zacks Research cut shares of PJT Partners from a “hold” rating to a “strong sell” rating in a research report on Friday, May 1st. Finally, UBS Group increased their price objective on shares of PJT Partners from $152.00 to $160.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th.

PJT Partners Stock Performance

PJT stock opened at $159.51 on Wednesday. The company has a fifty day moving average price of $154.98 and a 200-day moving average price of $158.79. The company has a market capitalization of $4.12 billion, a P/E ratio of 23.25 and a beta of 0.85. PJT Partners has a 52-week low of $127.73 and a 52-week high of $195.62.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.03. The firm had revenue of $418.20 million during the quarter, compared to the consensus estimate of $409.38 million. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The company’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 earnings per share. As a group, sell-side analysts forecast that PJT Partners will post 7.5 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, June 3rd. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. PJT Partners’s dividend payout ratio is 14.58%.

Insider Buying and Selling at PJT Partners

In other news, General Counsel David Adam Travin sold 3,000 shares of the stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total transaction of $457,290.00. Following the completion of the sale, the general counsel directly owned 2,052 shares in the company, valued at $312,786.36. This represents a 59.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Helen T. Meates sold 8,000 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $153.19, for a total transaction of $1,225,520.00. Following the sale, the chief financial officer owned 58,466 shares of the company’s stock, valued at approximately $8,956,406.54. This trade represents a 12.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 10.98% of the company’s stock.

Institutional Investors Weigh In On PJT Partners

Large investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of PJT Partners by 28.5% during the third quarter. JPMorgan Chase & Co. now owns 110,454 shares of the financial services provider’s stock worth $19,631,000 after buying an additional 24,502 shares during the period. Bessemer Group Inc. boosted its stake in PJT Partners by 1,446.5% during the fourth quarter. Bessemer Group Inc. now owns 115,000 shares of the financial services provider’s stock worth $19,229,000 after acquiring an additional 107,564 shares in the last quarter. Azora Capital LP bought a new position in PJT Partners during the third quarter worth $40,061,000. Alps Advisors Inc. boosted its stake in PJT Partners by 536.3% during the third quarter. Alps Advisors Inc. now owns 16,556 shares of the financial services provider’s stock worth $2,942,000 after acquiring an additional 13,954 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its stake in PJT Partners by 28.8% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 35,055 shares of the financial services provider’s stock worth $5,861,000 after acquiring an additional 7,830 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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.