Alamea Verwaltungs GmbH Purchases Shares of 2,404 PJT Partners Inc. $PJT

Key Points

• Alamea Verwaltungs GmbH has acquired a new stake in PJT Partners Inc., purchasing 2,404 shares valued at approximately $331,000 in the first quarter.
• PJT Partners recently announced a quarterly dividend of $0.25 per share, resulting in an annualized yield of 0.6%.
• PJT Partners’ stock is currently down 1.4% and has a consensus target price of $174.67 from Wall Street analysts.

Alamea Verwaltungs GmbH bought a new stake in PJT Partners Inc. (NYSE:PJT - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,404 shares of the financial services provider's stock, valued at approximately $331,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Congress Asset Management Co. boosted its stake in PJT Partners by 19.7% in the first quarter. Congress Asset Management Co. now owns 485,575 shares of the financial services provider's stock valued at $66,951,000 after acquiring an additional 79,894 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in PJT Partners by 52.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 169,986 shares of the financial services provider's stock valued at $23,438,000 after acquiring an additional 58,656 shares during the period. Principal Financial Group Inc. boosted its stake in PJT Partners by 2.6% in the first quarter. Principal Financial Group Inc. now owns 143,579 shares of the financial services provider's stock valued at $19,797,000 after acquiring an additional 3,645 shares during the period. TimesSquare Capital Management LLC boosted its stake in PJT Partners by 1.5% in the first quarter. TimesSquare Capital Management LLC now owns 132,852 shares of the financial services provider's stock valued at $18,318,000 after acquiring an additional 1,904 shares during the period. Finally, Tidal Investments LLC acquired a new position in shares of PJT Partners during the fourth quarter worth approximately $20,059,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PJT. Keefe, Bruyette & Woods boosted their price objective on PJT Partners from $161.00 to $199.00 and gave the stock a "market perform" rating in a research report on Monday, July 14th. Wolfe Research reiterated an "underperform" rating on shares of PJT Partners in a research report on Thursday, July 10th. Four equities research 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 an average rating of "Reduce" and an average target price of $174.67.

Insider Buying and Selling at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 2,288 shares of the company's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $178.06, for a total value of $407,401.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Grace Reksten Skaugen sold 1,504 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $176.89, for a total value of $266,042.56. Following the completion of the transaction, the director directly owned 500 shares in the company, valued at $88,445. This represents a 75.05% decrease in their position. The disclosure for this sale can be found here. 11.75% of the stock is currently owned by corporate insiders.

PJT Partners Trading Down 1.7%

NYSE:PJT traded down $2.94 during midday trading on Wednesday, hitting $173.92. 177,806 shares of the stock were exchanged, compared to its average volume of 183,248. PJT Partners Inc. has a one year low of $116.07 and a one year high of $190.27. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 33.03 and a beta of 0.75. The business has a 50-day moving average price of $177.89 and a two-hundred day moving average price of $157.06.

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

PJT Partners Dividend Announcement

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

PJT Partners Company Profile

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.