Keefe, Bruyette & Woods Issues Positive Forecast for PJT Partners (NYSE:PJT) Stock Price

PJT Partners (NYSE:PJT) had its target price upped by Keefe, Bruyette & Woods from $175.00 to $185.00 in a research report report published on Friday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

PJT has been the subject of a number of other reports. Zacks Research raised PJT Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. The Goldman Sachs Group upgraded PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Wednesday, April 1st. UBS Group increased their price objective on PJT Partners from $160.00 to $162.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of PJT Partners in a research report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $175.33.

PJT Partners Price Performance

Shares of NYSE:PJT traded down $1.55 during trading on Friday, hitting $157.19. 293,205 shares of the company were exchanged, compared to its average volume of 519,901. The firm’s 50 day moving average price is $156.03 and its 200-day moving average price is $157.18. PJT Partners has a 12-month low of $127.73 and a 12-month high of $195.62. The stock has a market capitalization of $4.06 billion, a P/E ratio of 22.91 and a beta of 0.85.

PJT Partners (NYSE:PJT) last posted its earnings results on Tuesday, April 28th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.03. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The firm had revenue of $418.20 million for the quarter, compared to the consensus estimate of $409.38 million. During the same period last year, the firm posted $1.05 EPS. The company’s revenue was up 28.9% on a year-over-year basis. As a group, equities research analysts anticipate that PJT Partners will post 7.5 EPS for the current year.

PJT Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Wednesday, June 3rd. PJT Partners’s dividend payout ratio is currently 14.58%.

Insiders Place Their Bets

In related news, General Counsel David Adam Travin sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total value of $457,290.00. Following the sale, the general counsel owned 2,052 shares in the company, valued at $312,786.36. This represents a 59.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Helen T. Meates sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $153.19, for a total value of $1,225,520.00. Following the completion of the transaction, the chief financial officer directly owned 58,466 shares of the company’s stock, valued at $8,956,406.54. The trade was a 12.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 10.98% of the company’s stock.

Institutional Trading of PJT Partners

Several large investors have recently bought and sold shares of PJT. Versant Capital Management Inc increased its position in shares of PJT Partners by 73.3% in the second quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider’s stock valued at $35,000 after buying an additional 99 shares in the last quarter. Allworth Financial LP grew its stake in PJT Partners by 85.8% in the 4th quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 133 shares during the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in PJT Partners in the 1st quarter valued at about $50,000. State of Wyoming purchased a new position in PJT Partners during the 2nd quarter valued at about $63,000. Finally, Kestra Advisory Services LLC acquired a new position in PJT Partners during the fourth quarter worth about $65,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

About PJT Partners

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.