Principal Financial Group Inc. Boosts Stock Holdings in PJT Partners Inc. $PJT

Principal Financial Group Inc. increased its stake in PJT Partners Inc. (NYSE:PJT) by 15.1% during the 1st quarter, Holdings Channel reports. The fund owned 188,774 shares of the financial services provider’s stock after purchasing an additional 24,735 shares during the quarter. Principal Financial Group Inc.’s holdings in PJT Partners were worth $26,376,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PJT. Allworth Financial LP raised its position 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 purchasing an additional 133 shares in the last quarter. State of Wyoming purchased a new stake in shares of PJT Partners during the second quarter worth approximately $63,000. Kestra Advisory Services LLC acquired a new stake in PJT Partners in the fourth quarter valued at approximately $65,000. Exchange Traded Concepts LLC acquired a new stake in PJT Partners in the fourth quarter valued at approximately $86,000. Finally, Caitong International Asset Management Co. Ltd lifted its stake in PJT Partners by 2,338.1% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 512 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 491 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

PJT Partners Stock Down 1.2%

NYSE:PJT opened at $164.63 on Tuesday. The company has a market capitalization of $4.25 billion, a PE ratio of 24.00 and a beta of 0.85. PJT Partners Inc. has a 52-week low of $127.73 and a 52-week high of $195.62. The stock’s 50 day moving average price is $157.46 and its 200 day moving average price is $156.80.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.03. The company had revenue of $418.20 million during the quarter, compared to analysts’ expectations of $409.38 million. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.The firm’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 earnings per share. As a group, sell-side analysts anticipate that PJT Partners Inc. will post 7.5 EPS for the current fiscal year.

PJT Partners Announces Dividend

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

Insider Buying and Selling at PJT Partners

In other PJT Partners news, CFO Helen T. Meates sold 8,000 shares of PJT Partners stock in a transaction 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 transaction, the chief financial officer directly owned 58,466 shares in the company, valued at approximately $8,956,406.54. The trade was a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel David Adam Travin sold 3,000 shares of PJT Partners stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total transaction of $457,290.00. Following the completion of the transaction, the general counsel owned 2,052 shares in the company, valued at approximately $312,786.36. This represents a 59.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 10.98% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PJT has been the topic of a number of analyst reports. UBS Group raised their price objective on shares of PJT Partners from $160.00 to $162.00 and gave the company a “neutral” rating in a report on Wednesday, July 8th. Keefe, Bruyette & Woods increased their target price on PJT Partners from $175.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, July 10th. The Goldman Sachs Group upgraded PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Wednesday, April 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a report on Friday, May 29th. Finally, Zacks Research raised PJT Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, PJT Partners has a consensus rating of “Hold” and a consensus target price of $175.33.

PJT Partners Profile

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.