Raymond James Financial Inc. Buys Shares of 565,184 PJT Partners Inc. (NYSE:PJT)

Raymond James Financial Inc. acquired a new position in PJT Partners Inc. (NYSE:PJT - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 565,184 shares of the financial services provider's stock, valued at approximately $89,192,000. Raymond James Financial Inc. owned 2.38% of PJT Partners at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atria Investments Inc boosted its holdings in shares of PJT Partners by 5.0% during the fourth quarter. Atria Investments Inc now owns 2,692 shares of the financial services provider's stock worth $425,000 after purchasing an additional 129 shares during the period. Cookson Peirce & Co. Inc. bought a new position in shares of PJT Partners during the fourth quarter valued at approximately $2,203,000. Charles Schwab Investment Management Inc. lifted its position in shares of PJT Partners by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 255,263 shares of the financial services provider's stock worth $40,283,000 after purchasing an additional 3,173 shares during the period. Norden Group LLC increased its position in shares of PJT Partners by 118.3% during the fourth quarter. Norden Group LLC now owns 5,372 shares of the financial services provider's stock valued at $848,000 after buying an additional 2,911 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its holdings in PJT Partners by 7.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 12,852 shares of the financial services provider's stock worth $2,028,000 after buying an additional 930 shares during the period. Institutional investors own 89.23% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citizens Jmp cut PJT Partners from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 13th. UBS Group raised shares of PJT Partners from a "sell" rating to a "neutral" rating and lifted their price target for the company from $130.00 to $175.00 in a research report on Friday, December 6th. Keefe, Bruyette & Woods upped their price objective on shares of PJT Partners from $152.00 to $177.00 and gave the stock a "market perform" rating in a report on Wednesday, February 5th. Finally, JMP Securities lowered shares of PJT Partners from an "outperform" rating to a "market perform" rating in a report on Monday, January 13th. Five analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $158.50.

PJT Partners Stock Down 1.1 %

Shares of NYSE PJT traded down $1.53 during midday trading on Thursday, hitting $140.12. The stock had a trading volume of 392,668 shares, compared to its average volume of 229,687. The business's 50 day moving average is $161.72 and its 200-day moving average is $151.11. PJT Partners Inc. has a 52 week low of $88.51 and a 52 week high of $190.28. The company has a market cap of $3.26 billion, a P/E ratio of 28.60 and a beta of 0.68.

PJT Partners (NYSE:PJT - Get Free Report) last issued its earnings results on Tuesday, February 4th. The financial services provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.19 by $0.71. The business had revenue of $477.30 million for the quarter, compared to the consensus estimate of $384.64 million. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The company's revenue was up 45.3% compared to the same quarter last year. During the same period last year, the business posted $0.96 EPS. As a group, analysts expect that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Wednesday, March 5th. PJT Partners's dividend payout ratio (DPR) is 20.41%.

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.