PJT Partners (NYSE:PJT) Price Target Raised to $195.00

PJT Partners (NYSE:PJT) had its price target boosted by Keefe, Bruyette & Woods from $185.00 to $195.00 in a research report report published on Wednesday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

A number of other research firms have also recently commented on PJT. UBS Group raised their target price on PJT Partners from $160.00 to $162.00 and gave the company a “neutral” rating in a research note on Wednesday, July 8th. Zacks Research raised PJT Partners from a “strong sell” rating to a “hold” rating in a research note 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 report on Wednesday, April 1st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PJT Partners in a research report on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $179.33.

PJT Partners Trading Up 0.3%

Shares of NYSE:PJT opened at $168.03 on Wednesday. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 22.99 and a beta of 0.85. The company has a 50-day moving average price of $159.53 and a 200-day moving average price of $156.43. PJT Partners has a 12 month low of $127.73 and a 12 month high of $195.62.

PJT Partners (NYSE:PJT) last posted its earnings results on Tuesday, July 28th. The financial services provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.57 by $0.40. PJT Partners had a net margin of 10.57% and a return on equity of 32.88%. The firm had revenue of $486.29 million during the quarter, compared to analysts’ expectations of $425.28 million. During the same period last year, the company posted $1.54 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. As a group, research analysts forecast that PJT Partners will post 8 EPS for the current fiscal year.

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be issued a $0.25 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. PJT Partners’s dividend payout ratio is presently 13.68%.

Insider Transactions at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total value of $457,290.00. Following the completion of the sale, the general counsel directly owned 2,052 shares of the company’s stock, valued at $312,786.36. The trade was a 59.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Grace Reksten Skaugen sold 1,283 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $167.67, for a total transaction of $215,120.61. Following the completion of the transaction, the director owned 500 shares in the company, valued at $83,835. This represents a 71.96% 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

A number of large investors have recently modified their holdings of PJT. Jackson Creek Investment Advisors LLC bought a new stake in shares of PJT Partners in the 4th quarter valued at about $1,373,000. Bessemer Group Inc. boosted its stake in shares of PJT Partners by 1,446.5% during the fourth quarter. Bessemer Group Inc. now owns 115,000 shares of the financial services provider’s stock valued at $19,229,000 after purchasing an additional 107,564 shares in the last quarter. TimesSquare Capital Management LLC boosted its stake in shares of PJT Partners by 8.0% during the fourth quarter. TimesSquare Capital Management LLC now owns 142,496 shares of the financial services provider’s stock valued at $23,825,000 after purchasing an additional 10,570 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its holdings in PJT Partners by 28.8% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 35,055 shares of the financial services provider’s stock valued at $5,861,000 after buying an additional 7,830 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in PJT Partners by 28.5% in the fourth quarter. State of Alaska Department of Revenue now owns 17,010 shares of the financial services provider’s stock worth $2,843,000 after buying an additional 3,775 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Company 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.