State of New Jersey Common Pension Fund D Cuts Position in PJT Partners Inc. (NYSE:PJT)

State of New Jersey Common Pension Fund D cut its stake in PJT Partners Inc. (NYSE:PJT) by 15.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,496 shares of the financial services provider’s stock after selling 2,426 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in PJT Partners were worth $2,130,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Captrust Financial Advisors increased its holdings in shares of PJT Partners by 2.2% in the 3rd quarter. Captrust Financial Advisors now owns 3,149 shares of the financial services provider’s stock valued at $420,000 after acquiring an additional 67 shares during the period. M&T Bank Corp increased its holdings in shares of PJT Partners by 3.5% in the 3rd quarter. M&T Bank Corp now owns 2,220 shares of the financial services provider’s stock valued at $296,000 after acquiring an additional 75 shares during the period. New York State Teachers Retirement System increased its holdings in shares of PJT Partners by 0.9% in the 3rd quarter. New York State Teachers Retirement System now owns 10,688 shares of the financial services provider’s stock valued at $1,425,000 after acquiring an additional 100 shares during the period. GAMMA Investing LLC increased its holdings in shares of PJT Partners by 32.3% in the 4th quarter. GAMMA Investing LLC now owns 446 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 109 shares during the period. Finally, Quarry LP increased its holdings 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 valued at $28,000 after acquiring an additional 136 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

PJT Partners Stock Performance

Shares of PJT opened at $162.87 on Friday. The stock has a 50-day moving average of $163.34 and a two-hundred day moving average of $148.44. PJT Partners Inc. has a one year low of $88.51 and a one year high of $190.27. The stock has a market cap of $3.86 billion, a P/E ratio of 33.24 and a beta of 0.67.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.71. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The company had revenue of $477.30 million during the quarter, compared to analysts’ expectations of $384.64 million. During the same quarter in the previous year, the firm posted $0.96 EPS. The firm’s revenue was up 45.3% compared to the same quarter last year. Analysts predict that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.00 dividend on an annualized basis and a yield of 0.61%. PJT Partners’s dividend payout ratio is currently 20.41%.

Analysts Set New Price Targets

PJT has been the topic of a number of analyst reports. Citizens Jmp downgraded PJT Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Keefe, Bruyette & Woods boosted their target price on PJT Partners from $152.00 to $177.00 and gave the stock a “market perform” rating in a research note on Wednesday, February 5th. JMP Securities downgraded PJT Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 13th. Finally, UBS Group upgraded PJT Partners from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $130.00 to $175.00 in a research note on Friday, December 6th. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $158.50.

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.