Keefe, Bruyette & Woods Reaffirms Market Perform Rating for PJT Partners (NYSE:PJT)

Keefe, Bruyette & Woods reissued their market perform rating on shares of PJT Partners (NYSE:PJT) in a research note published on Wednesday, Benzinga reports. The brokerage currently has a $128.00 price target on the financial services provider’s stock, up from their previous price target of $108.00.

A number of other analysts have also weighed in on the company. JMP Securities reissued a market outperform rating and set a $110.00 price objective on shares of PJT Partners in a research note on Tuesday, April 9th. UBS Group raised their price target on shares of PJT Partners from $85.00 to $93.00 and gave the stock a sell rating in a report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, PJT Partners presently has a consensus rating of Hold and a consensus target price of $116.80.

PJT Partners Stock Down 3.2 %

PJT Partners stock opened at $122.58 on Wednesday. The firm has a fifty day simple moving average of $111.71 and a two-hundred day simple moving average of $102.91. PJT Partners has a twelve month low of $71.47 and a twelve month high of $136.90. The company has a market capitalization of $2.94 billion, a PE ratio of 33.77 and a beta of 0.62.

PJT Partners (NYSE:PJT) last released its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.70 by $0.49. The firm had revenue of $360.00 million for the quarter, compared to the consensus estimate of $281.93 million. PJT Partners had a return on equity of 18.12% and a net margin of 7.96%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.99 earnings per share. As a group, equities analysts expect that PJT Partners will post 4.35 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Wednesday, September 4th. PJT Partners’s payout ratio is currently 27.55%.

Insiders Place Their Bets

In other news, Director Emily K. Rafferty sold 1,696 shares of PJT Partners stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $130.79, for a total transaction of $221,819.84. Following the sale, the director now owns 7,404 shares of the company’s stock, valued at approximately $968,369.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.67% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PJT. Louisiana State Employees Retirement System grew its stake in PJT Partners by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the financial services provider’s stock worth $1,198,000 after purchasing an additional 100 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of PJT Partners by 1.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 12,004 shares of the financial services provider’s stock valued at $1,295,000 after buying an additional 158 shares in the last quarter. Parallel Advisors LLC grew its position in shares of PJT Partners by 5.0% in the 4th quarter. Parallel Advisors LLC now owns 3,897 shares of the financial services provider’s stock worth $397,000 after buying an additional 184 shares during the period. SouthState Corp bought a new position in shares of PJT Partners in the 2nd quarter worth about $26,000. Finally, Intrust Bank NA lifted its position in PJT Partners by 8.6% during the 4th quarter. Intrust Bank NA now owns 3,186 shares of the financial services provider’s stock valued at $325,000 after acquiring an additional 251 shares during the period. 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.