PJT Partners (NYSE:PJT) Given New $152.00 Price Target at Keefe, Bruyette & Woods

PJT Partners (NYSE:PJT - Free Report) had its price target cut by Keefe, Bruyette & Woods from $159.00 to $152.00 in a research report released on Monday,Benzinga reports. They currently have a market perform rating on the financial services provider's stock.

Several other analysts have also commented on PJT. UBS Group raised PJT Partners from a "sell" rating to a "neutral" rating and raised their price objective for the company from $130.00 to $175.00 in a report on Friday, December 6th. JMP Securities lowered shares of PJT Partners from an "outperform" rating to a "market perform" rating in a report on Monday.

PJT Partners Price Performance

PJT traded down $2.51 during trading on Monday, reaching $152.15. 298,702 shares of the company's stock were exchanged, compared to its average volume of 210,486. The company's fifty day simple moving average is $159.02 and its 200-day simple moving average is $138.07. The stock has a market capitalization of $3.61 billion, a P/E ratio of 38.62 and a beta of 0.66. PJT Partners has a 1 year low of $88.51 and a 1 year high of $168.92.

PJT Partners (NYSE:PJT - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The business had revenue of $326.30 million during the quarter, compared to analysts' expectations of $313.46 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The company's revenue for the quarter was up 17.2% on a year-over-year basis. Equities analysts forecast that PJT Partners will post 4.4 EPS for the current year.

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Wednesday, December 4th. PJT Partners's payout ratio is 25.38%.

Insider Buying and Selling at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 1,541 shares of the firm's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $159.18, for a total value of $245,296.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James Costos sold 1,500 shares of the company's 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 of the company's stock, valued at $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. In the last 90 days, insiders have sold 4,766 shares of company stock worth $762,980. Corporate insiders own 11.71% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PJT. 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 boosted its holdings in PJT Partners by 88.2% during the 2nd quarter. BOKF NA now owns 5,461 shares of the financial services provider's stock valued at $589,000 after acquiring an additional 2,560 shares during the period. Envestnet Asset Management Inc. grew its position in PJT Partners by 13.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 108,522 shares of the financial services provider's stock valued at $11,711,000 after acquiring an additional 12,991 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in PJT Partners by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 458,216 shares of the financial services provider's stock worth $49,446,000 after purchasing an additional 22,117 shares during the period. Finally, Ieq Capital LLC lifted its position in shares of PJT Partners by 28.9% during the second quarter. Ieq Capital LLC now owns 25,474 shares of the financial services provider's stock worth $2,749,000 after purchasing an additional 5,705 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

About PJT Partners

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.