PJT Partners Inc. (NYSE:PJT) Receives Consensus Rating of “Reduce” from Brokerages

Shares of PJT Partners Inc. (NYSE:PJT) have received an average rating of “Reduce” from the six brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $116.80.

A number of brokerages have issued reports on PJT. JMP Securities lifted their price target on PJT Partners from $120.00 to $142.00 and gave the stock a “market outperform” rating in a report on Wednesday, July 31st. The Goldman Sachs Group boosted their target price on PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. UBS Group boosted their price target on PJT Partners from $85.00 to $93.00 and gave the company a “sell” rating in a research report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $128.00 price target (up previously from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st.

Insider Buying and Selling

In related news, Director Kievdi Don Cornwell sold 11,586 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $123.49, for a total value of $1,430,755.14. Following the sale, the director now owns 8,339 shares of the company’s stock, valued at approximately $1,029,783.11. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Kievdi Don Cornwell sold 11,586 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $123.49, for a total value of $1,430,755.14. Following the sale, the director now owns 8,339 shares of the company’s stock, valued at approximately $1,029,783.11. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total value of $1,188,500.00. Following the transaction, the insider now directly owns 61,433 shares in the company, valued at approximately $7,301,312.05. The disclosure for this sale can be found here. Insiders have sold a total of 25,297 shares of company stock worth $3,092,668 in the last quarter. Company insiders own 10.67% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Hsbc Holdings PLC raised its position in shares of PJT Partners by 11,553.8% in the 4th quarter. Hsbc Holdings PLC now owns 510,089 shares of the financial services provider’s stock worth $52,120,000 after buying an additional 505,712 shares during the period. Champlain Investment Partners LLC bought a new position in shares of PJT Partners during the first quarter worth about $43,029,000. Vanguard Group Inc. lifted its position in shares of PJT Partners by 15.0% during the fourth quarter. Vanguard Group Inc. now owns 2,429,691 shares of the financial services provider’s stock worth $247,513,000 after purchasing an additional 317,437 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of PJT Partners during the second quarter worth about $13,803,000. Finally, Principal Financial Group Inc. lifted its holdings in PJT Partners by 934.8% in the fourth quarter. Principal Financial Group Inc. now owns 129,872 shares of the financial services provider’s stock worth $13,230,000 after acquiring an additional 117,322 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Price Performance

PJT opened at $119.55 on Thursday. PJT Partners has a 12 month low of $71.47 and a 12 month high of $136.90. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 32.93 and a beta of 0.61. The business has a fifty day moving average price of $119.71 and a 200 day moving average price of $106.97.

PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, July 30th. The financial services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.70 by $0.49. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. The firm had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $281.93 million. During the same period in the previous year, the firm posted $0.99 EPS. PJT Partners’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, research analysts anticipate that PJT Partners will post 4.35 earnings per share for the current year.

PJT Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Wednesday, September 4th. PJT Partners’s dividend payout ratio is currently 27.55%.

About PJT Partners

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.