PJT Partners Inc. (PJT) Shares Sold by Legal & General Group Plc
Legal & General Group Plc cut its stake in shares of PJT Partners Inc. (NYSE:PJT) by 1.3% during the first quarter, Holdings Channel reports. The institutional investor owned 4,206 shares of the financial services provider’s stock after selling 54 shares during the period. Legal & General Group Plc’s holdings in PJT Partners were worth $147,000 as of its most recent filing with the SEC.
Separately, Teachers Advisors LLC boosted its position in PJT Partners by 3.7% in the first quarter. Teachers Advisors LLC now owns 30,190 shares of the financial services provider’s stock valued at $1,059,000 after buying an additional 1,079 shares in the last quarter. 57.97% of the stock is owned by hedge funds and other institutional investors.
Shares of PJT Partners Inc. (PJT) traded up 0.28% on Wednesday, hitting $38.82. 3,093 shares of the stock traded hands. PJT Partners Inc. has a 52 week low of $23.98 and a 52 week high of $45.38. The stock’s market cap is $719.06 million. The stock has a 50 day moving average price of $41.69 and a 200-day moving average price of $37.95.
PJT Partners (NYSE:PJT) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.34 by $0.07. The firm had revenue of $109.31 million for the quarter. PJT Partners had a negative return on equity of 115.47% and a negative net margin of 0.27%. On average, equities research analysts forecast that PJT Partners Inc. will post $1.73 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, September 7th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, September 6th. PJT Partners’s payout ratio is -200.00%.
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Several research analysts have weighed in on PJT shares. Bank of America Corporation raised shares of PJT Partners from a “neutral” rating to a “buy” rating and increased their price target for the company from $39.00 to $45.00 in a report on Thursday, May 11th. Zacks Investment Research raised shares of PJT Partners from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Wednesday, April 19th. Finally, BidaskClub raised shares of PJT Partners from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th.
PJT Partners Company 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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