Geode Capital Management LLC Buys 16,233 Shares of PJT Partners Inc. (NYSE:PJT)

Geode Capital Management LLC boosted its stake in PJT Partners Inc. (NYSE:PJT - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 635,270 shares of the financial services provider's stock after purchasing an additional 16,233 shares during the quarter. Geode Capital Management LLC owned approximately 2.68% of PJT Partners worth $100,273,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Alliancebernstein L.P. boosted its stake in PJT Partners by 9.8% during the fourth quarter. Alliancebernstein L.P. now owns 474,710 shares of the financial services provider's stock valued at $74,914,000 after buying an additional 42,463 shares during the period. CIBC Private Wealth Group LLC grew its holdings in shares of PJT Partners by 112.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock worth $44,000 after purchasing an additional 146 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of PJT Partners by 658.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 181,406 shares of the financial services provider's stock worth $28,628,000 after purchasing an additional 157,483 shares during the last quarter. Level Four Advisory Services LLC purchased a new stake in PJT Partners in the fourth quarter valued at approximately $202,000. Finally, Norges Bank bought a new stake in PJT Partners during the fourth quarter valued at approximately $20,269,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. JMP Securities cut shares of PJT Partners from an "outperform" rating to a "market perform" rating in a research report on Monday, January 13th. Citizens Jmp lowered PJT Partners from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 13th. Finally, Keefe, Bruyette & Woods raised their price objective on PJT Partners from $152.00 to $177.00 and gave the company a "market perform" rating in a report on Wednesday, February 5th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $158.50.

PJT Partners Price Performance

PJT Partners stock traded up $1.53 during trading hours on Tuesday, reaching $132.92. The company had a trading volume of 23,657 shares, compared to its average volume of 243,077. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 27.13 and a beta of 0.77. PJT Partners Inc. has a 12-month low of $90.95 and a 12-month high of $190.28. The company has a 50-day moving average price of $149.49 and a 200 day moving average price of $153.03.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $1.90 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.71. The company had revenue of $477.30 million during the quarter, compared to analyst estimates of $384.64 million. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The firm's revenue was up 45.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 EPS. As a group, research analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.00 annualized dividend and a dividend yield of 0.75%. PJT Partners's payout ratio is presently 20.41%.

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.