Keefe, Bruyette & Woods Has Lowered Expectations for PJT Partners (NYSE:PJT) Stock Price

PJT Partners (NYSE:PJT) had its target price cut by Keefe, Bruyette & Woods from $159.00 to $152.00 in a report issued on Monday morning,Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

A number of other research firms also recently weighed in on PJT. JMP Securities downgraded PJT Partners from an “outperform” rating to a “market perform” rating in a research note on Monday. UBS Group raised PJT Partners from a “sell” rating to a “neutral” rating and upped their target price for the stock from $130.00 to $175.00 in a research report on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, PJT Partners presently has an average rating of “Hold” and a consensus price target of $152.25.

PJT Partners Stock Up 3.3 %

Shares of PJT stock opened at $161.60 on Monday. The firm has a 50 day moving average of $159.54 and a 200-day moving average of $138.89. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 41.02 and a beta of 0.66. PJT Partners has a 52 week low of $88.51 and a 52 week high of $168.92.

PJT Partners (NYSE:PJT) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The business had revenue of $326.30 million during the quarter, compared to analysts’ expectations of $313.46 million. During the same period last year, the company posted $0.78 earnings per share. The business’s quarterly revenue was up 17.2% on a year-over-year basis. Analysts anticipate that PJT Partners will post 4.4 earnings per share for the current year.

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a $1.00 annualized dividend and a yield of 0.62%. PJT Partners’s payout ratio is 25.38%.

Insiders Place Their Bets

In other PJT Partners news, Director James Costos sold 1,500 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $161.41, for a total transaction of $242,115.00. Following the transaction, the director now directly owns 9,360 shares in the company, valued at approximately $1,510,797.60. This trade represents a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth C. Whitney sold 1,725 shares of PJT Partners stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total transaction of $275,568.75. Following the transaction, the director now directly owns 9,100 shares in the company, valued at $1,453,725. This represents a 15.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,766 shares of company stock valued at $762,980. Corporate insiders own 11.71% of the company’s stock.

Institutional Investors Weigh In On PJT Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP boosted its stake in shares of PJT Partners by 186.3% in the 3rd quarter. Quarry LP now owns 209 shares of the financial services provider’s stock worth $28,000 after buying an additional 136 shares during the last quarter. GAMMA Investing LLC lifted its holdings in PJT Partners by 76.4% during the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock worth $45,000 after acquiring an additional 146 shares during the period. KBC Group NV boosted its position in PJT Partners by 113.0% in the third quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock worth $107,000 after purchasing an additional 426 shares during the last quarter. nVerses Capital LLC bought a new position in PJT Partners in the 3rd quarter valued at $213,000. Finally, D.A. Davidson & CO. bought a new position in PJT Partners in the 3rd quarter valued at $234,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

About PJT Partners

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.