JPMorgan Chase & Co. Boosts Stock Position in PJT Partners Inc. (NYSE:PJT)

JPMorgan Chase & Co. increased its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 91.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,270 shares of the financial services provider's stock after purchasing an additional 34,514 shares during the quarter. JPMorgan Chase & Co. owned 0.30% of PJT Partners worth $9,636,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. American Century Companies Inc. boosted its position in shares of PJT Partners by 0.8% during the second quarter. American Century Companies Inc. now owns 14,837 shares of the financial services provider's stock worth $1,601,000 after buying an additional 120 shares during the period. BOKF NA lifted its position in shares of PJT Partners by 88.2% during the second quarter. BOKF NA now owns 5,461 shares of the financial services provider's stock worth $589,000 after purchasing an additional 2,560 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of PJT Partners by 13.6% in the second quarter. Envestnet Asset Management Inc. now owns 108,522 shares of the financial services provider's stock valued at $11,711,000 after purchasing an additional 12,991 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of PJT Partners by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 458,216 shares of the financial services provider's stock valued at $49,446,000 after purchasing an additional 22,117 shares in the last quarter. Finally, Ieq Capital LLC increased its stake in PJT Partners by 28.9% during the 2nd quarter. Ieq Capital LLC now owns 25,474 shares of the financial services provider's stock worth $2,749,000 after buying an additional 5,705 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

PJT Partners Price Performance

Shares of PJT traded up $4.45 during mid-day trading on Tuesday, reaching $156.65. The company's stock had a trading volume of 264,814 shares, compared to its average volume of 217,277. The company's 50 day moving average is $159.27 and its 200 day moving average is $138.39. The stock has a market cap of $3.71 billion, a PE ratio of 39.76 and a beta of 0.66. PJT Partners Inc. has a 12-month low of $88.51 and a 12-month high of $168.92.

PJT Partners (NYSE:PJT - Get Free Report) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.02. The business had revenue of $326.30 million for the quarter, compared to analysts' expectations of $313.46 million. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The business's revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.78 earnings per share. As a group, sell-side analysts anticipate that PJT Partners Inc. will post 4.4 EPS for the current fiscal year.

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Wednesday, December 4th. PJT Partners's dividend payout ratio is currently 25.38%.

Wall Street Analyst Weigh In

Several research firms have commented on PJT. Keefe, Bruyette & Woods dropped their price target on shares of PJT Partners from $159.00 to $152.00 and set a "market perform" rating for the company in a research note on Monday. JMP Securities lowered PJT Partners from an "outperform" rating to a "market perform" rating in a research report on Monday. UBS Group raised PJT Partners from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $130.00 to $175.00 in a research report on Friday, December 6th. Finally, Citizens Jmp downgraded shares of PJT Partners from a "strong-buy" rating to a "hold" rating in a research note on Monday. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $152.25.

Insider Activity at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 1,541 shares of PJT Partners stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $159.18, for a total value of $245,296.38. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James Costos sold 1,500 shares of PJT Partners stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $161.41, for a total value of $242,115.00. Following the completion of the sale, the director now owns 9,360 shares in the company, valued at approximately $1,510,797.60. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,766 shares of company stock worth $762,980 in the last quarter. Company insiders own 11.71% of the company's stock.

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.