Baird Financial Group Inc. Invests $2.64 Million in PJT Partners Inc. $PJT

Key Points

• Baird Financial Group Inc. has invested approximately $2.64 million in PJT Partners, purchasing 19,137 shares during the first quarter.
• PJT Partners reported strong quarterly earnings with an EPS of $1.54, exceeding analysts' expectations of $1.36, and a revenue of $731.09 million in the same quarter.
• The company announced a quarterly dividend of $0.25 per share, with a dividend yield of 0.6% and an ex-dividend date set for September 3rd.

Baird Financial Group Inc. bought a new position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 19,137 shares of the financial services provider's stock, valued at approximately $2,639,000. Baird Financial Group Inc. owned approximately 0.08% of PJT Partners as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PJT. Trexquant Investment LP boosted its holdings in shares of PJT Partners by 188.2% in the 1st quarter. Trexquant Investment LP now owns 51,966 shares of the financial services provider's stock worth $7,165,000 after acquiring an additional 33,934 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of PJT Partners in the 1st quarter valued at $3,948,000. Jump Financial LLC bought a new stake in shares of PJT Partners in the 1st quarter valued at $802,000. AlphaQuest LLC boosted its stake in PJT Partners by 2.3% in the 1st quarter. AlphaQuest LLC now owns 6,361 shares of the financial services provider's stock worth $877,000 after purchasing an additional 142 shares during the period. Finally, CW Advisors LLC boosted its stake in PJT Partners by 12.5% in the 1st quarter. CW Advisors LLC now owns 74,859 shares of the financial services provider's stock worth $10,322,000 after purchasing an additional 8,297 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analyst Weigh In

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

PJT Partners Stock Down 1.6%

PJT Partners stock traded down $3.06 during midday trading on Friday, hitting $183.84. 127,219 shares of the stock were exchanged, compared to its average volume of 156,847. PJT Partners Inc. has a 52-week low of $119.76 and a 52-week high of $190.27. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 31.59 and a beta of 0.75. The business's 50-day moving average price is $179.96 and its 200-day moving average price is $157.71.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.36 by $0.18. The company 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 quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 earnings per share. On average, sell-side analysts predict that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal 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 given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Wednesday, September 3rd. PJT Partners's dividend payout ratio (DPR) is currently 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.