PJT Partners Inc. (NYSE:PJT) Shares Bought by Portside Wealth Group LLC

by · The Markets Daily

Portside Wealth Group LLC grew its stake in shares of PJT Partners Inc. (NYSE:PJT – Free Report) by 5.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,684 shares of the financial services provider’s stock after purchasing an additional 181 shares during the quarter. Portside Wealth Group LLC’s holdings in PJT Partners were worth $491,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Champlain Investment Partners LLC bought a new position in PJT Partners during the 1st quarter worth $43,029,000. Point72 Asset Management L.P. acquired a new position in shares of PJT Partners during the second quarter valued at $13,803,000. Congress Asset Management Co. boosted its holdings in shares of PJT Partners by 29.6% during the third quarter. Congress Asset Management Co. now owns 317,974 shares of the financial services provider’s stock valued at $42,399,000 after acquiring an additional 72,582 shares during the period. Marshall Wace LLP bought a new position in shares of PJT Partners during the second quarter worth about $5,801,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of PJT Partners by 36.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 85,049 shares of the financial services provider’s stock worth $8,017,000 after acquiring an additional 22,556 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

PJT Partners Price Performance

NYSE PJT opened at $159.34 on Friday. PJT Partners Inc. has a 12 month low of $81.25 and a 12 month high of $163.54. The firm has a market capitalization of $3.78 billion, a PE ratio of 40.44 and a beta of 0.61. The company’s 50 day simple moving average is $136.23 and its 200 day simple moving average is $119.67.

PJT Partners (NYSE:PJT – Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.02. The company had revenue of $326.30 million for the quarter, compared to analysts’ expectations of $313.46 million. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS. Sell-side analysts anticipate that PJT Partners Inc. will post 4.4 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, December 4th. PJT Partners’s dividend payout ratio (DPR) is presently 25.38%.

Analyst Upgrades and Downgrades

PJT has been the subject of a number of analyst reports. JMP Securities boosted their target price on shares of PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $128.00 price objective (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. UBS Group lifted their target price on PJT Partners from $110.00 to $120.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group increased their price target on PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $123.80.

Get Our Latest Stock Analysis on PJT

Insider Buying and Selling at PJT Partners

In other news, General Counsel David Adam Travin sold 1,541 shares of PJT Partners stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $159.18, for a total value of $245,296.38. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the sale, the insider now directly owns 61,433 shares of the company’s stock, valued at $7,301,312.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel David Adam Travin sold 1,541 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $159.18, for a total value of $245,296.38. The disclosure for this sale can be found here. In the last three months, insiders sold 26,642 shares of company stock valued at $3,358,259. 11.71% of the stock is owned by insiders.

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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