KLP Kapitalforvaltning AS acquired a new stake in PJT Partners Inc. (NYSE:PJT - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,600 shares of the financial services provider's stock, valued at approximately $726,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new position in shares of PJT Partners in the fourth quarter worth about $89,192,000. Congress Asset Management Co. raised its position in shares of PJT Partners by 27.6% in the 4th quarter. Congress Asset Management Co. now owns 405,681 shares of the financial services provider's stock valued at $64,021,000 after purchasing an additional 87,707 shares in the last quarter. State Street Corp raised its position in shares of PJT Partners by 5.7% in the 3rd quarter. State Street Corp now owns 1,001,911 shares of the financial services provider's stock valued at $133,595,000 after purchasing an additional 54,071 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of PJT Partners by 7.9% during the 3rd quarter. Geode Capital Management LLC now owns 619,037 shares of the financial services provider's stock valued at $82,556,000 after buying an additional 45,327 shares during the last quarter. Finally, Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of PJT Partners during the third quarter worth approximately $5,675,000. 89.23% of the stock is owned by hedge funds and other institutional investors.
PJT Partners Stock Down 4.5 %
PJT stock traded down $5.87 during mid-day trading on Friday, reaching $126.01. The company had a trading volume of 432,336 shares, compared to its average volume of 236,986. The stock's 50-day simple moving average is $155.44 and its two-hundred day simple moving average is $153.45. The stock has a market capitalization of $2.94 billion, a P/E ratio of 25.72 and a beta of 0.77. PJT Partners Inc. has a one year low of $90.95 and a one year high of $190.28.
PJT Partners (NYSE:PJT - Get Free Report) last posted its earnings results on Tuesday, February 4th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.71. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The firm had revenue of $477.30 million during the quarter, compared to analyst estimates of $384.64 million. During the same period in the previous year, the business posted $0.96 EPS. PJT Partners's revenue was up 45.3% on a year-over-year basis. On average, research analysts forecast that PJT Partners Inc. will post 6.2 EPS for the current fiscal 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 given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Wednesday, March 5th. PJT Partners's dividend payout ratio is currently 20.41%.
Analysts Set New Price Targets
Several equities analysts have recently commented 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 cut PJT Partners from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 13th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of PJT Partners from $152.00 to $177.00 and gave the company a "market perform" rating in a research report on Wednesday, February 5th. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $158.50.
View Our Latest Stock Analysis on PJT Partners
About PJT Partners
(
Free Report)
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.
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