TD Asset Management Inc Sells 3,660 Shares of PJT Partners Inc. $PJT

TD Asset Management Inc lowered its stake in PJT Partners Inc. (NYSE:PJT) by 18.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 16,286 shares of the financial services provider’s stock after selling 3,660 shares during the quarter. TD Asset Management Inc’s holdings in PJT Partners were worth $2,895,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Dana Investment Advisors Inc. raised its holdings in PJT Partners by 1.9% during the 3rd quarter. Dana Investment Advisors Inc. now owns 5,761 shares of the financial services provider’s stock valued at $1,024,000 after buying an additional 108 shares during the last quarter. Alliance Wealth Advisors LLC UT grew its holdings in PJT Partners by 6.6% in the 3rd quarter. Alliance Wealth Advisors LLC UT now owns 5,073 shares of the financial services provider’s stock worth $902,000 after acquiring an additional 313 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of PJT Partners by 28.5% in the third quarter. JPMorgan Chase & Co. now owns 110,454 shares of the financial services provider’s stock valued at $19,631,000 after acquiring an additional 24,502 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of PJT Partners by 40.5% during the third quarter. PNC Financial Services Group Inc. now owns 1,650 shares of the financial services provider’s stock valued at $293,000 after acquiring an additional 476 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in shares of PJT Partners by 13.8% during the third quarter. Public Sector Pension Investment Board now owns 94,774 shares of the financial services provider’s stock worth $16,844,000 after purchasing an additional 11,520 shares during the period. Institutional investors own 89.23% of the company’s stock.

PJT Partners Price Performance

Shares of PJT Partners stock opened at $148.51 on Thursday. PJT Partners Inc. has a 1 year low of $119.76 and a 1 year high of $195.62. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 22.37 and a beta of 0.85. The company has a 50-day moving average of $167.77 and a 200 day moving average of $172.09.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $2.55 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.14. PJT Partners had a net margin of 10.51% and a return on equity of 31.69%. The business had revenue of $535.16 million for the quarter, compared to analysts’ expectations of $533.32 million. During the same quarter in the prior year, the company earned $1.90 earnings per share. The business’s revenue was up 12.1% compared to the same quarter last year. On average, equities analysts anticipate that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price target on PJT Partners from $186.00 to $188.00 and gave the company a “market perform” rating in a report on Thursday, January 8th. Wolfe Research reiterated an “underperform” rating and issued a $150.00 price objective on shares of PJT Partners in a report on Wednesday, January 7th. The Goldman Sachs Group cut their price objective on PJT Partners from $197.00 to $174.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. Zacks Research cut PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PJT Partners in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, PJT Partners has an average rating of “Hold” and an average target price of $179.50.

About PJT Partners

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.