Victory Capital Management Inc. reduced its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 73.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 26,123 shares of the financial services provider's stock after selling 70,770 shares during the quarter. Victory Capital Management Inc. owned 0.11% of PJT Partners worth $4,122,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Los Angeles Capital Management LLC acquired a new stake in shares of PJT Partners in the third quarter valued at about $453,000. JPMorgan Chase & Co. boosted its holdings in PJT Partners by 91.4% in the third quarter. JPMorgan Chase & Co. now owns 72,270 shares of the financial services provider's stock worth $9,636,000 after acquiring an additional 34,514 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of PJT Partners by 7.9% in the third quarter. Geode Capital Management LLC now owns 619,037 shares of the financial services provider's stock valued at $82,556,000 after purchasing an additional 45,327 shares in the last quarter. Citigroup Inc. lifted its holdings in shares of PJT Partners by 101.1% in the third quarter. Citigroup Inc. now owns 30,103 shares of the financial services provider's stock valued at $4,014,000 after purchasing an additional 15,135 shares in the last quarter. Finally, Atria Investments Inc lifted its holdings in shares of PJT Partners by 5.9% in the third quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider's stock valued at $342,000 after purchasing an additional 142 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on PJT. Citizens Jmp downgraded PJT Partners from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th. Keefe, Bruyette & Woods lifted their price target on PJT Partners from $152.00 to $177.00 and gave the company a "market perform" rating in a research report on Wednesday, February 5th. JMP Securities lowered PJT Partners from an "outperform" rating to a "market perform" rating in a research note on Monday, January 13th. Finally, UBS Group upgraded PJT Partners from a "sell" rating to a "neutral" rating and increased their price objective for the company from $130.00 to $175.00 in a research report on Friday, December 6th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, PJT Partners presently has an average rating of "Hold" and an average price target of $158.50.
Read Our Latest Report on PJT
PJT Partners Stock Up 2.1 %
Shares of PJT Partners stock traded up $3.02 on Wednesday, reaching $143.46. The company's stock had a trading volume of 83,264 shares, compared to its average volume of 229,804. PJT Partners Inc. has a 52 week low of $88.51 and a 52 week high of $190.28. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 29.28 and a beta of 0.68. The firm's fifty day simple moving average is $160.43 and its two-hundred day simple moving average is $151.76.
PJT Partners (NYSE:PJT - Get Free Report) last released its earnings results on Tuesday, February 4th. The financial services provider reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.71. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The company had revenue of $477.30 million for the quarter, compared to the consensus estimate of $384.64 million. During the same period in the previous year, the business earned $0.96 earnings per share. PJT Partners's quarterly revenue was up 45.3% compared to the same quarter last year. As a group, research analysts predict that PJT Partners Inc. will post 6.2 EPS for the current year.
PJT Partners Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.00 annualized dividend and a yield of 0.70%. PJT Partners's payout ratio is currently 20.41%.
About PJT Partners
(
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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