Raymond James & Associates Purchases 5,929 Shares of PJT Partners Inc. (NYSE:PJT)

Raymond James & Associates lifted its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,268 shares of the financial services provider's stock after buying an additional 5,929 shares during the quarter. Raymond James & Associates owned about 0.48% of PJT Partners worth $15,370,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. SouthState Corp bought a new stake in PJT Partners during the second quarter worth about $26,000. Opal Wealth Advisors LLC bought a new stake in PJT Partners in the 2nd quarter valued at $30,000. Fidelis Capital Partners LLC bought a new position in PJT Partners during the 1st quarter worth $39,000. GAMMA Investing LLC grew its stake in shares of PJT Partners by 76.4% in the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider's stock valued at $45,000 after acquiring an additional 146 shares in the last quarter. Finally, EntryPoint Capital LLC grew its stake in shares of PJT Partners by 27.6% in the first quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider's stock valued at $157,000 after acquiring an additional 359 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Analyst Upgrades and Downgrades

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

PJT Partners Price Performance

Shares of PJT stock traded down $2.34 during trading hours on Friday, reaching $139.64. The company had a trading volume of 100,579 shares, compared to its average volume of 231,605. The business has a fifty day simple moving average of $131.79 and a 200-day simple moving average of $116.32. PJT Partners Inc. has a 12 month low of $71.47 and a 12 month high of $151.10. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 38.47 and a beta of 0.61.

PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.70 by $0.49. The business had revenue of $360.00 million for the quarter, compared to analyst estimates of $281.93 million. PJT Partners had a net margin of 7.96% and a return on equity of 18.04%. The company's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 earnings per share. On average, equities research analysts expect that PJT Partners Inc. will post 4.35 earnings per share for the current year.

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Wednesday, September 4th. PJT Partners's dividend payout ratio is presently 27.55%.

Insider Activity at PJT Partners

In related news, Director Grace Reksten Skaugen sold 2,015 shares of the company's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $124.86, for a total value of $251,592.90. Following the completion of the transaction, the director now directly owns 500 shares in the company, valued at approximately $62,430. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the company's stock in a transaction on 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 in the company, valued at approximately $7,301,312.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Grace Reksten Skaugen sold 2,015 shares of the firm's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $124.86, for a total transaction of $251,592.90. Following the completion of the sale, the director now owns 500 shares of the company's stock, valued at $62,430. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 25,297 shares of company stock valued at $3,092,668. 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.