Massachusetts Financial Services Co. MA purchased a new stake in PJT Partners Inc. (NYSE:PJT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 111,330 shares of the financial services provider's stock, valued at approximately $17,569,000. Massachusetts Financial Services Co. MA owned about 0.47% of PJT Partners at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Quarry LP grew its holdings in PJT Partners by 186.3% during the 3rd quarter. Quarry LP now owns 209 shares of the financial services provider's stock valued at $28,000 after buying an additional 136 shares during the last quarter. Principal Securities Inc. raised its stake in PJT Partners by 385.4% in the 4th quarter. Principal Securities Inc. now owns 199 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 158 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in PJT Partners by 112.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 146 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of PJT Partners by 32.3% during the 4th quarter. GAMMA Investing LLC now owns 446 shares of the financial services provider's stock worth $70,000 after purchasing an additional 109 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in PJT Partners by 51.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider's stock worth $82,000 after acquiring an additional 176 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.
PJT Partners Price Performance
NYSE PJT traded up $0.20 during trading hours on Friday, hitting $129.56. The company had a trading volume of 489,361 shares, compared to its average volume of 243,931. The firm's 50 day moving average is $150.40 and its 200 day moving average is $152.92. PJT Partners Inc. has a fifty-two week low of $90.95 and a fifty-two week high of $190.28. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 26.44 and a beta of 0.77.
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. The business had revenue of $477.30 million during the quarter, compared to analyst estimates of $384.64 million. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The company's revenue for the quarter was up 45.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.96 earnings per share. On average, equities analysts anticipate that PJT Partners Inc. will post 6.2 EPS for the current year.
PJT Partners Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, March 5th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Wednesday, March 5th. PJT Partners's payout ratio is 20.41%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on PJT shares. Keefe, Bruyette & Woods increased their price target on PJT Partners from $152.00 to $177.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 5th. Citizens Jmp lowered shares of PJT Partners from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th. Finally, JMP Securities downgraded PJT Partners from an "outperform" rating to a "market perform" rating in a report on Monday, January 13th. Five research analysts have rated the stock with a hold rating, Based on data from MarketBeat, PJT Partners presently has an average rating of "Hold" and an average target price of $158.50.
Read Our Latest Stock Report 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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