Aberdeen Group plc Raises Stake in PJT Partners Inc. $PJT

Key Points

• Aberdeen Group plc has increased its stake in PJT Partners Inc. by 17.7%, owning 114,849 shares valued at approximately $15.8 million as of their latest filing.
• PJT Partners recently announced a quarterly dividend of $0.25 per share, with the ex-dividend date set for September 3rd, reflecting a 0.6% dividend yield.
• The company reported earnings of $1.54 per share for the last quarter, exceeding analysts' expectations, while its revenue grew by 13% compared to the same quarter last year.

Aberdeen Group plc increased its holdings in PJT Partners Inc. (NYSE:PJT - Free Report) by 17.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 114,849 shares of the financial services provider's stock after purchasing an additional 17,261 shares during the quarter. Aberdeen Group plc owned 0.49% of PJT Partners worth $15,835,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. First Bank & Trust raised its position in PJT Partners by 1.6% in the 1st quarter. First Bank & Trust now owns 5,186 shares of the financial services provider's stock worth $715,000 after purchasing an additional 80 shares during the period. Crestwood Advisors Group LLC raised its position in PJT Partners by 0.6% in the 1st quarter. Crestwood Advisors Group LLC now owns 14,314 shares of the financial services provider's stock worth $1,974,000 after purchasing an additional 83 shares during the period. Xponance Inc. raised its position in PJT Partners by 5.4% in the 1st quarter. Xponance Inc. now owns 1,749 shares of the financial services provider's stock worth $241,000 after purchasing an additional 90 shares during the period. HighTower Advisors LLC raised its position in PJT Partners by 1.6% in the 1st quarter. HighTower Advisors LLC now owns 6,166 shares of the financial services provider's stock worth $850,000 after purchasing an additional 96 shares during the period. Finally, NDVR Inc. grew its holdings in PJT Partners by 6.0% in the 4th quarter. NDVR Inc. now owns 2,050 shares of the financial services provider's stock worth $324,000 after acquiring an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insider Activity

In other news, Director Kievdi Don Cornwell sold 10,403 shares of PJT Partners stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $150.29, for a total transaction of $1,563,466.87. Following the sale, the director owned 8,847 shares of the company's stock, valued at approximately $1,329,615.63. The trade was a 54.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel David Adam Travin sold 2,288 shares of PJT Partners stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $178.06, for a total transaction of $407,401.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,792 shares of company stock valued at $3,686,825. Corporate insiders own 11.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PJT. Wolfe Research reissued an "underperform" rating on shares of PJT Partners in a report on Thursday, July 10th. Keefe, Bruyette & Woods raised their price target on shares of PJT Partners from $161.00 to $199.00 and gave the stock a "market perform" rating in a report on Monday, July 14th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $174.67.

PJT Partners Stock Up 2.9%

Shares of PJT traded up $5.0950 during trading hours on Friday, reaching $180.3950. 279,914 shares of the company traded hands, compared to its average volume of 242,778. The company's fifty day moving average price is $174.36 and its two-hundred day moving average price is $156.69. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 31.00 and a beta of 0.77. PJT Partners Inc. has a 12 month low of $116.07 and a 12 month high of $190.27.

PJT Partners (NYSE:PJT - Get Free Report) last announced its earnings results on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.18. The firm had revenue of $731.09 billion for the quarter, compared to analyst estimates of $343.11 million. PJT Partners had a net margin of 10.45% and a return on equity of 25.61%. The company's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 EPS. On average, analysts expect that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. PJT Partners's payout ratio is presently 17.18%.

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.