Congress Asset Management Co. increased its stake in PJT Partners Inc. (NYSE:PJT - Free Report) by 29.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 317,974 shares of the financial services provider's stock after purchasing an additional 72,582 shares during the period. Congress Asset Management Co. owned approximately 1.33% of PJT Partners worth $42,399,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in PJT Partners by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,447,154 shares of the financial services provider's stock valued at $230,669,000 after buying an additional 17,463 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in PJT Partners by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 458,216 shares of the financial services provider's stock valued at $49,446,000 after buying an additional 22,117 shares in the last quarter. Champlain Investment Partners LLC acquired a new stake in PJT Partners in the first quarter valued at about $43,029,000. Klingman & Associates LLC boosted its stake in PJT Partners by 5.2% in the first quarter. Klingman & Associates LLC now owns 157,056 shares of the financial services provider's stock valued at $14,804,000 after buying an additional 7,754 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in PJT Partners in the second quarter valued at about $13,803,000. Institutional investors own 89.23% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on PJT shares. UBS Group raised their price objective on PJT Partners from $110.00 to $120.00 and gave the company a "sell" rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $128.00 price target (up from $108.00) on shares of PJT Partners in a research note on Wednesday, July 31st. JMP Securities lifted their price target on PJT Partners from $142.00 to $150.00 and gave the company a "market outperform" rating in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group lifted their price target on PJT Partners from $115.00 to $132.00 and gave the company a "neutral" rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $123.80.
Check Out Our Latest Research Report on PJT
PJT Partners Price Performance
Shares of PJT Partners stock traded up $1.16 during midday trading on Thursday, reaching $138.98. The company had a trading volume of 273,532 shares, compared to its average volume of 233,429. The stock has a fifty day moving average price of $132.74 and a 200 day moving average price of $117.11. The firm has a market cap of $3.33 billion, a PE ratio of 37.97 and a beta of 0.61. PJT Partners Inc. has a fifty-two week low of $76.22 and a fifty-two week high of $151.10.
PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.19. The company had revenue of $326.30 million for the quarter, compared to analyst estimates of $313.46 million. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. The firm's quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 earnings per share. As a group, sell-side analysts forecast that PJT Partners Inc. will post 4.35 EPS for the current year.
PJT Partners Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.72%. PJT Partners's payout ratio is currently 27.55%.
Insiders Place Their Bets
In other PJT Partners news, Director Grace Reksten Skaugen sold 2,015 shares of PJT Partners stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $124.86, for a total value of $251,592.90. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Grace Reksten Skaugen sold 2,015 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $62,430. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ji-Yeun Lee sold 10,000 shares of the business's stock in a transaction that occurred 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 sale, the insider now owns 61,433 shares of the company's stock, valued at approximately $7,301,312.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,601 shares of company stock worth $2,870,848. 10.67% of the stock is owned by corporate insiders.
PJT Partners Profile
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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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