PJT Partners Inc. to Issue Quarterly Dividend of $0.25 (NYSE:PJT)

PJT Partners Inc. (NYSE:PJT - Get Free Report) announced a quarterly dividend on Tuesday, October 29th, Zacks reports. Investors of record on Wednesday, December 4th will be paid a dividend of 0.25 per share by the financial services provider on Wednesday, December 18th. This represents a $1.00 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Wednesday, December 4th.

PJT Partners has raised its dividend payment by an average of 71.0% per year over the last three years. PJT Partners has a payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PJT Partners to earn $5.40 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 18.5%.

PJT Partners Trading Down 0.6 %

NYSE PJT traded down $0.85 during trading on Wednesday, hitting $137.82. 414,379 shares of the company traded hands, compared to its average volume of 233,238. The company has a market capitalization of $3.31 billion, a P/E ratio of 37.68 and a beta of 0.61. The business has a fifty day simple moving average of $132.45 and a 200 day simple moving average of $116.96. PJT Partners has a 12 month low of $76.22 and a 12 month high of $151.10.

PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.74 by $0.19. The company had revenue of $326.30 million for the quarter, compared to the consensus estimate of $313.46 million. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. The company's revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 earnings per share. Equities research analysts predict that PJT Partners will post 4.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity at PJT Partners

In other news, Director Kievdi Don Cornwell sold 11,586 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the sale, the director now owns 8,339 shares in the company, valued at approximately $1,029,783.11. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the business's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total value of $1,188,500.00. Following the completion of the transaction, the insider now directly owns 61,433 shares of the company's stock, valued at approximately $7,301,312.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kievdi Don Cornwell sold 11,586 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the sale, the director now directly owns 8,339 shares in the company, valued at $1,029,783.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,297 shares of company stock valued at $3,092,668 in the last three months. Corporate insiders own 10.67% 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.