JPMorgan Chase & Co. Buys 24,502 Shares of PJT Partners Inc. $PJT

JPMorgan Chase & Co. increased its stake in shares of PJT Partners Inc. (NYSE:PJT) by 28.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 110,454 shares of the financial services provider’s stock after buying an additional 24,502 shares during the period. JPMorgan Chase & Co. owned 0.45% of PJT Partners worth $19,631,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. CWM LLC lifted its position in PJT Partners by 50.8% during the third quarter. CWM LLC now owns 181 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 61 shares during the last quarter. Salomon & Ludwin LLC bought a new position in shares of PJT Partners during the third quarter worth approximately $41,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in PJT Partners by 75.9% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 285 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 123 shares during the last quarter. State of Wyoming bought a new stake in PJT Partners in the 2nd quarter valued at $63,000. Finally, Federated Hermes Inc. boosted its stake in PJT Partners by 307.8% in the 3rd quarter. Federated Hermes Inc. now owns 526 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 397 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

PJT Partners Stock Up 0.4%

Shares of PJT Partners stock opened at $148.29 on Tuesday. PJT Partners Inc. has a 12-month low of $119.76 and a 12-month high of $195.62. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 22.33 and a beta of 0.85. The firm’s 50-day moving average price is $168.71 and its two-hundred day moving average price is $172.48.

PJT Partners (NYSE:PJT) last issued its earnings results on Tuesday, February 3rd. The financial services provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.41 by $0.14. The company had revenue of $535.16 million during the quarter, compared to analysts’ expectations of $533.32 million. PJT Partners had a net margin of 10.51% and a return on equity of 31.69%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.90 EPS. On average, sell-side analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 4th. This represents a $1.00 annualized dividend and a yield of 0.7%. PJT Partners’s dividend payout ratio is presently 15.06%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods increased their price objective on PJT Partners from $186.00 to $188.00 and gave the stock a “market perform” rating in a research report on Thursday, January 8th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PJT Partners in a research report on Thursday, January 22nd. The Goldman Sachs Group dropped their price objective on shares of PJT Partners from $197.00 to $174.00 and set a “neutral” rating for the company in a research note on Wednesday, February 4th. Wall Street Zen raised shares of PJT Partners from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $150.00 target price on shares of PJT Partners in a report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $179.50.

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.