Citizens Jmp Downgrades PJT Partners (NYSE:PJT) to Hold

Citizens Jmp cut shares of PJT Partners (NYSE:PJT - Free Report) from a strong-buy rating to a hold rating in a research report report published on Monday,Zacks.com reports.

PJT has been the subject of a number of other reports. Keefe, Bruyette & Woods cut their target price on PJT Partners from $159.00 to $152.00 and set a "market perform" rating for the company in a research report on Monday. JMP Securities downgraded shares of PJT Partners from an "outperform" rating to a "market perform" rating in a research note on Monday. Finally, UBS Group raised shares of PJT Partners from a "sell" rating to a "neutral" rating and raised their target price for the company from $130.00 to $175.00 in a report on Friday, December 6th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $152.25.

PJT Partners Price Performance

NYSE PJT traded up $4.45 on Monday, reaching $156.65. The stock had a trading volume of 264,814 shares, compared to its average volume of 217,277. PJT Partners has a 1-year low of $88.51 and a 1-year high of $168.92. The company has a market cap of $3.71 billion, a P/E ratio of 39.76 and a beta of 0.66. The firm has a fifty day moving average of $159.58 and a two-hundred day moving average of $138.73.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.02. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The firm had revenue of $326.30 million during the quarter, compared to the consensus estimate of $313.46 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The business's revenue for the quarter was up 17.2% compared to the same quarter last year. Research analysts predict that PJT Partners will post 4.4 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Wednesday, December 4th. PJT Partners's dividend payout ratio is presently 25.38%.

Insider Transactions at PJT Partners

In other news, Director Kenneth C. Whitney sold 1,725 shares of PJT Partners stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total transaction of $275,568.75. Following the sale, the director now directly owns 9,100 shares of the company's stock, valued at approximately $1,453,725. This trade represents a 15.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director James Costos sold 1,500 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $161.41, for a total value of $242,115.00. Following the sale, the director now owns 9,360 shares in the company, valued at approximately $1,510,797.60. This trade represents a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,766 shares of company stock valued at $762,980. 11.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PJT Partners

Several hedge funds have recently added to or reduced their stakes in PJT. American Century Companies Inc. lifted its holdings in shares of PJT Partners by 0.8% during the second quarter. American Century Companies Inc. now owns 14,837 shares of the financial services provider's stock worth $1,601,000 after purchasing an additional 120 shares during the period. Envestnet Asset Management Inc. raised its position in PJT Partners by 13.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 108,522 shares of the financial services provider's stock worth $11,711,000 after purchasing an additional 12,991 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in PJT Partners by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 458,216 shares of the financial services provider's stock worth $49,446,000 after buying an additional 22,117 shares during the period. Ieq Capital LLC grew its position in shares of PJT Partners by 28.9% in the 2nd quarter. Ieq Capital LLC now owns 25,474 shares of the financial services provider's stock valued at $2,749,000 after buying an additional 5,705 shares during the last quarter. Finally, Sei Investments Co. increased its stake in shares of PJT Partners by 1.4% in the second quarter. Sei Investments Co. now owns 10,458 shares of the financial services provider's stock valued at $1,129,000 after buying an additional 141 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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.