Norges Bank Invests $20.27 Million in PJT Partners Inc. (NYSE:PJT)

Norges Bank acquired a new stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 128,438 shares of the financial services provider's stock, valued at approximately $20,269,000. Norges Bank owned approximately 0.54% of PJT Partners at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Captrust Financial Advisors boosted its holdings in PJT Partners by 2.2% during the third quarter. Captrust Financial Advisors now owns 3,149 shares of the financial services provider's stock worth $420,000 after buying an additional 67 shares in the last quarter. Quarry LP boosted its stake in shares of PJT Partners by 186.3% during the 3rd quarter. Quarry LP now owns 209 shares of the financial services provider's stock worth $28,000 after acquiring an additional 136 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of PJT Partners in the 3rd quarter worth $393,000. Stifel Financial Corp raised its position in shares of PJT Partners by 23.7% during the third quarter. Stifel Financial Corp now owns 7,249 shares of the financial services provider's stock worth $967,000 after purchasing an additional 1,387 shares during the period. Finally, State Street Corp lifted its holdings in shares of PJT Partners by 5.7% during the third 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 during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

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PJT Partners Stock Performance

NYSE:PJT traded up $0.20 during trading hours on Friday, hitting $129.56. 489,361 shares of the company's stock traded hands, compared to its average volume of 243,931. PJT Partners Inc. has a twelve month low of $90.95 and a twelve month high of $190.28. The firm has a market cap of $3.02 billion, a P/E ratio of 26.44 and a beta of 0.77. The stock's fifty day moving average price is $150.40 and its two-hundred day moving average price is $152.92.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping 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 net margin of 9.00% and a return on equity of 24.03%. The firm's revenue was up 45.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 earnings per share. On average, equities research analysts predict that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date was Wednesday, March 5th. PJT Partners's dividend payout ratio (DPR) is currently 20.41%.

Analyst Upgrades and Downgrades

PJT has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lifted 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. JMP Securities downgraded shares of PJT Partners from an "outperform" rating to a "market perform" rating in a research report on Monday, January 13th. Finally, Citizens Jmp lowered shares of PJT Partners from a "strong-buy" rating to a "hold" rating in a report on Monday, January 13th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, PJT Partners presently has an average rating of "Hold" and an average price target of $158.50.

PJT Partners Company 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.