JPMorgan Chase & Co. Sells 24,714 Shares of PJT Partners Inc. $PJT

JPMorgan Chase & Co. reduced its holdings in PJT Partners Inc. (NYSE:PJT) by 22.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 85,952 shares of the financial services provider’s stock after selling 24,714 shares during the period. JPMorgan Chase & Co. owned 0.35% of PJT Partners worth $14,183,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PJT. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of PJT Partners in the 1st quarter valued at about $45,000. Quarry LP acquired a new position in PJT Partners during the first quarter valued at approximately $45,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in PJT Partners by 75.9% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 285 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 123 shares in the last quarter. SouthState Corp increased its position in shares of PJT Partners by 126.7% during the 1st quarter. SouthState Corp now owns 544 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 304 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its stake in shares of PJT Partners by 1,082.8% during the 1st quarter. Russell Investments Group Ltd. now owns 686 shares of the financial services provider’s stock worth $95,000 after purchasing an additional 628 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on PJT. Keefe, Bruyette & Woods raised their target price on shares of PJT Partners from $180.00 to $182.00 and gave the company a “market perform” rating in a research note on Wednesday, November 5th. Evercore ISI set a $180.00 price objective on shares of PJT Partners in a research report on Monday, October 13th. Zacks Research upgraded shares of PJT Partners from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 7th. Wall Street Zen upgraded shares of PJT Partners from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of PJT Partners in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $189.00.

PJT Partners Stock Performance

NYSE PJT opened at $175.88 on Friday. The stock has a market cap of $4.28 billion, a PE ratio of 27.06 and a beta of 0.85. The firm has a 50-day moving average of $171.30 and a 200-day moving average of $171.64. PJT Partners Inc. has a 52-week low of $119.76 and a 52-week high of $190.27.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $1.85 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.61. The firm had revenue of $447.09 million for the quarter, compared to analysts’ expectations of $386.76 million. PJT Partners had a net margin of 10.75% and a return on equity of 29.66%. As a group, analysts predict that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 17th. Investors of record on Wednesday, December 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, December 3rd. PJT Partners’s dividend payout ratio (DPR) is presently 15.38%.

PJT Partners Profile

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.