Congress Asset Management Co. Increases Stake in PJT Partners Inc. $PJT

Congress Asset Management Co. grew its holdings in PJT Partners Inc. (NYSE:PJT) by 0.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 728,580 shares of the financial services provider’s stock after buying an additional 5,106 shares during the quarter. Congress Asset Management Co.’s holdings in PJT Partners were worth $103,976,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in PJT. Corient Private Wealth LP grew its holdings in PJT Partners by 0.9% during the 2nd quarter. Corient Private Wealth LP now owns 10,116 shares of the financial services provider’s stock worth $1,527,000 after acquiring an additional 90 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of PJT Partners by 73.3% during the second quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 99 shares in the last quarter. Royal Bank of Canada lifted its position in shares of PJT Partners by 1.6% during the first quarter. Royal Bank of Canada now owns 7,326 shares of the financial services provider’s stock worth $1,023,000 after purchasing an additional 118 shares in the last quarter. OLD National Bancorp IN grew its stake in shares of PJT Partners by 8.7% during the first quarter. OLD National Bancorp IN now owns 1,954 shares of the financial services provider’s stock valued at $273,000 after purchasing an additional 156 shares during the last quarter. Finally, Compass Financial Management LLC bought a new stake in shares of PJT Partners during the second quarter valued at approximately $36,000. 89.23% of the stock is owned by institutional investors.

PJT Partners Price Performance

Shares of PJT stock traded up $1.83 during trading hours on Tuesday, reaching $139.78. The company had a trading volume of 490,666 shares, compared to its average volume of 396,877. PJT Partners Inc. has a 1-year low of $127.73 and a 1-year high of $195.62. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 19.12 and a beta of 0.89. The company has a 50 day moving average of $166.25 and a 200 day moving average of $158.31.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, July 28th. The financial services provider reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.40. The business had revenue of $486.29 million during the quarter, compared to analysts’ expectations of $425.28 million. PJT Partners had a return on equity of 32.66% and a net margin of 10.57%.The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.54 earnings per share. As a group, sell-side analysts forecast that PJT Partners Inc. will post 8 EPS for the current fiscal year.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 0.7%. PJT Partners’s dividend payout ratio (DPR) is 13.68%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. BMO Capital Markets reissued an “outperform” rating on shares of PJT Partners in a report on Tuesday. Zacks Research raised PJT Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Capital One Financial set a $160.00 price objective on PJT Partners in a research report on Tuesday. The Goldman Sachs Group lowered their target price on PJT Partners from $203.00 to $182.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. Finally, Wall Street Zen downgraded PJT Partners from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $176.71.

Insider Buying and Selling

In related news, Director Kievdi Cornwell sold 7,845 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $173.48, for a total value of $1,360,950.60. Following the sale, the director directly owned 18,865 shares in the company, valued at $3,272,700.20. This trade represents a 29.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Emily K. Rafferty sold 1,100 shares of PJT Partners stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $167.35, for a total transaction of $184,085.00. Following the transaction, the director directly owned 9,568 shares in the company, valued at $1,601,204.80. The trade was a 10.31% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,951 shares of company stock valued at $2,061,681 over the last 90 days. 10.98% of the stock is owned by corporate insiders.

About PJT Partners

PJT Partners Inc (NYSE:PJT) is a global, independent investment banking and advisory firm that provides strategic, restructuring and private capital advisory services to corporations, financial sponsors, institutional investors and other organizations.

The company advises clients on mergers and acquisitions, divestitures, strategic transactions, shareholder activism and other corporate matters. Its restructuring and capital solutions business provides advice on financial restructuring, liability management, distressed situations and related capital structure issues.