PJT Partners Inc (PJT) Position Boosted by Eos Focused Equity Management L.P.
Eos Focused Equity Management L.P. boosted its stake in shares of PJT Partners Inc (NYSE:PJT) by 16.3% in the 4th quarter, Holdings Channel reports. The firm owned 82,946 shares of the financial services provider’s stock after buying an additional 11,600 shares during the quarter. PJT Partners makes up 6.1% of Eos Focused Equity Management L.P.’s holdings, making the stock its 4th largest holding. Eos Focused Equity Management L.P.’s holdings in PJT Partners were worth $3,782,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of PJT Partners by 6.4% in the 2nd quarter. Vanguard Group Inc. now owns 697,533 shares of the financial services provider’s stock valued at $28,055,000 after buying an additional 41,741 shares in the last quarter. FMR LLC raised its stake in shares of PJT Partners by 41.1% in the 2nd quarter. FMR LLC now owns 514,349 shares of the financial services provider’s stock valued at $20,687,000 after buying an additional 149,881 shares in the last quarter. State Street Corp raised its stake in shares of PJT Partners by 11.1% in the 2nd quarter. State Street Corp now owns 349,633 shares of the financial services provider’s stock valued at $14,061,000 after buying an additional 34,957 shares in the last quarter. Maltese Capital Management LLC raised its stake in shares of PJT Partners by 10.1% in the 4th quarter. Maltese Capital Management LLC now owns 225,000 shares of the financial services provider’s stock valued at $10,260,000 after buying an additional 20,708 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of PJT Partners by 68.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 208,047 shares of the financial services provider’s stock valued at $7,970,000 after buying an additional 84,881 shares in the last quarter. Hedge funds and other institutional investors own 58.13% of the company’s stock.
PJT Partners Inc (NYSE PJT) opened at $45.87 on Friday. PJT Partners Inc has a one year low of $32.61 and a one year high of $50.35. The stock has a market cap of $1,550.00 and a price-to-earnings ratio of -26.36.
PJT Partners announced that its board has authorized a stock buyback program on Tuesday, October 31st that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 21st. Stockholders of record on Wednesday, March 7th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Tuesday, March 6th. PJT Partners’s payout ratio is -11.49%.
A number of brokerages have recently issued reports on PJT. Sandler O’Neill set a $55.00 price objective on shares of PJT Partners and gave the company a “buy” rating in a research note on Thursday, January 11th. Zacks Investment Research upgraded shares of PJT Partners from a “sell” rating to a “hold” rating in a research note on Thursday, January 4th. Finally, Buckingham Research began coverage on shares of PJT Partners in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $51.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. PJT Partners presently has a consensus rating of “Hold” and an average price target of $48.60.
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PJT Partners Profile
PJT Partners Inc is an advisory-focused investment bank. The Company offers an array of strategic advisory, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors and governments. It provides, through Park Hill Group, private fund advisory and placement services for alternative investment managers, including private equity funds, real estate funds and hedge funds.
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