Los Angeles Capital Management LLC Makes New Investment in PJT Partners Inc. (NYSE:PJT)

Los Angeles Capital Management LLC bought a new stake in PJT Partners Inc. (NYSE:PJT - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,396 shares of the financial services provider's stock, valued at approximately $453,000.

Other hedge funds also recently bought and sold shares of the company. Louisiana State Employees Retirement System lifted its stake in PJT Partners by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the financial services provider's stock worth $1,198,000 after acquiring an additional 100 shares in the last quarter. New York State Teachers Retirement System increased its position in shares of PJT Partners by 0.9% during the third quarter. New York State Teachers Retirement System now owns 10,688 shares of the financial services provider's stock worth $1,425,000 after acquiring an additional 100 shares during the period. American Century Companies Inc. raised its stake in shares of PJT Partners by 0.8% in the second quarter. American Century Companies Inc. now owns 14,837 shares of the financial services provider's stock valued at $1,601,000 after acquiring an additional 120 shares in the last quarter. AQR Capital Management LLC boosted its holdings in PJT Partners by 3.3% in the second quarter. AQR Capital Management LLC now owns 4,207 shares of the financial services provider's stock valued at $454,000 after purchasing an additional 136 shares during the period. Finally, Sei Investments Co. grew its stake in PJT Partners by 1.4% during the 2nd quarter. Sei Investments Co. now owns 10,458 shares of the financial services provider's stock worth $1,129,000 after purchasing an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insiders Place Their Bets

In related news, Director Kenneth C. Whitney sold 1,725 shares of the company's stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total value of $275,568.75. Following the completion of the sale, the director now owns 9,100 shares in the company, valued at $1,453,725. This represents a 15.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ji-Yeun Lee sold 10,000 shares of the firm's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the transaction, the insider now directly owns 61,433 shares in the company, valued at $7,301,312.05. The trade was a 14.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,367 shares of company stock valued at $3,633,828 over the last quarter. Company insiders own 11.71% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PJT shares. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $128.00 price objective (up from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. JMP Securities boosted their price target on shares of PJT Partners from $142.00 to $150.00 and gave the stock a "market outperform" rating in a report on Wednesday, October 9th. The Goldman Sachs Group raised their price objective on shares of PJT Partners from $115.00 to $132.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st. Finally, UBS Group boosted their target price on shares of PJT Partners from $110.00 to $120.00 and gave the stock a "sell" rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, PJT Partners has an average rating of "Hold" and an average target price of $123.80.

PJT Partners Trading Down 1.2 %

PJT stock opened at $157.32 on Friday. The stock has a market cap of $3.73 billion, a P/E ratio of 39.93 and a beta of 0.61. PJT Partners Inc. has a twelve month low of $82.64 and a twelve month high of $163.85. The company's 50 day moving average is $140.25 and its two-hundred day moving average is $122.08.

PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.91 by $0.02. The firm had revenue of $326.30 million during the quarter, compared to analysts' expectations of $313.46 million. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. PJT Partners's quarterly revenue was up 17.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 earnings per share. On average, equities research analysts predict that PJT Partners Inc. will post 4.4 earnings per share for the current year.

PJT Partners Announces Dividend

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

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.