PJT Partners (NYSE:PJT) Given New $110.00 Price Target at JMP Securities

PJT Partners (NYSE:PJTFree Report) had its price target increased by JMP Securities from $105.00 to $110.00 in a report published on Wednesday, Benzinga reports. The firm currently has a market outperform rating on the financial services provider’s stock.

Other research analysts have also issued reports about the company. UBS Group raised their target price on PJT Partners from $86.00 to $100.00 and gave the stock a neutral rating in a research report on Tuesday, January 9th. The Goldman Sachs Group reiterated a neutral rating and set a $99.00 price target (down from $108.00) on shares of PJT Partners in a report on Tuesday, January 9th. Seaport Res Ptn downgraded PJT Partners from a buy rating to a neutral rating in a report on Tuesday, December 5th. Finally, Wolfe Research reiterated an underperform rating and set a $89.00 price target on shares of PJT Partners in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, PJT Partners currently has an average rating of Hold and an average price target of $99.50.

Read Our Latest Analysis on PJT

PJT Partners Stock Up 2.1 %

Shares of NYSE:PJT opened at $97.39 on Wednesday. The firm has a market cap of $2.36 billion, a P/E ratio of 31.62 and a beta of 0.68. PJT Partners has a 12-month low of $59.61 and a 12-month high of $104.15. The business has a fifty day simple moving average of $97.86 and a 200 day simple moving average of $85.80.

PJT Partners (NYSE:PJTGet Free Report) last announced its earnings results on Tuesday, February 6th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.20. The business had revenue of $328.60 million during the quarter, compared to analyst estimates of $304.26 million. PJT Partners had a return on equity of 17.94% and a net margin of 7.09%. PJT Partners’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same period last year, the company earned $1.08 EPS. As a group, equities research analysts expect that PJT Partners will post 3.85 EPS for the current year.

PJT Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 20th. Stockholders of record on Wednesday, March 6th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, March 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. PJT Partners’s dividend payout ratio is presently 32.47%.

Insider Activity

In other news, insider Ji-Yeun Lee sold 10,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $89.76, for a total value of $897,600.00. Following the completion of the sale, the insider now directly owns 83,421 shares in the company, valued at approximately $7,487,868.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 10.67% of the stock is currently owned by company insiders.

Institutional Trading of PJT Partners

Several large investors have recently made changes to their positions in PJT. Jacobs Levy Equity Management Inc. acquired a new position in PJT Partners during the 3rd quarter valued at about $14,387,000. Walleye Capital LLC boosted its stake in PJT Partners by 5,714.8% during the 2nd quarter. Walleye Capital LLC now owns 178,979 shares of the financial services provider’s stock valued at $12,464,000 after purchasing an additional 175,901 shares during the last quarter. Victory Capital Management Inc. boosted its stake in PJT Partners by 2,871.9% during the 4th quarter. Victory Capital Management Inc. now owns 173,827 shares of the financial services provider’s stock valued at $12,809,000 after purchasing an additional 167,978 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in PJT Partners by 2,850.2% during the 1st quarter. Rockefeller Capital Management L.P. now owns 138,601 shares of the financial services provider’s stock valued at $10,005,000 after purchasing an additional 133,903 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in PJT Partners by 934.8% during the 4th quarter. Principal Financial Group Inc. now owns 129,872 shares of the financial services provider’s stock valued at $13,230,000 after purchasing an additional 117,322 shares during the last quarter. 73.40% of the stock is currently owned by institutional investors and hedge funds.

PJT Partners Company Profile

(Get 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.

Further Reading

Analyst Recommendations for PJT Partners (NYSE:PJT)

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