Baird Financial Group Inc. Makes New Investment 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. acquired a new stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,137 shares of the financial services provider's stock, valued at approximately $2,639,000. Baird Financial Group Inc. owned 0.08% of PJT Partners at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. New York State Teachers Retirement System boosted its holdings in shares of PJT Partners by 11.4% in the first quarter. New York State Teachers Retirement System now owns 12,253 shares of the financial services provider's stock worth $1,689,000 after acquiring an additional 1,254 shares during the period. Millennium Management LLC bought a new position in shares of PJT Partners in the fourth quarter worth $555,000. Principal Financial Group Inc. raised its position in shares of 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 worth $19,797,000 after buying an additional 3,645 shares in the last quarter. GAMMA Investing LLC raised its position in shares of PJT Partners by 18,294.4% in the first quarter. GAMMA Investing LLC now owns 82,039 shares of the financial services provider's stock worth $11,312,000 after buying an additional 81,593 shares in the last quarter. Finally, Richard Bernstein Advisors LLC purchased a new stake in shares of PJT Partners in the first quarter worth $3,373,000. 89.23% of the stock is owned by institutional investors.

PJT Partners Price Performance

NYSE PJT traded up $5.07 during mid-day trading on Thursday, reaching $184.73. The stock had a trading volume of 58,256 shares, compared to its average volume of 266,900. PJT Partners Inc. has a 1 year low of $117.64 and a 1 year high of $190.27. The stock has a market cap of $4.49 billion, a PE ratio of 31.76 and a beta of 0.75. The company has a fifty day moving average price of $179.29 and a 200 day moving average price of $157.33.

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. PJT Partners had a net margin of 10.45% and a return on equity of 25.61%. The business had revenue of $731.09 billion during the quarter, compared to analyst estimates of $343.11 million. During the same period in the previous year, the business earned $1.19 EPS. The company's quarterly revenue was up 13.0% compared to the same quarter last year. As a group, equities research analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The firm 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Wednesday, September 3rd. PJT Partners's dividend payout ratio is currently 17.18%.

Analysts Set New Price Targets

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

Insider Transactions at PJT Partners

In related news, Director Grace Reksten Skaugen sold 1,504 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $176.89, for a total value of $266,042.56. Following the sale, the director directly owned 500 shares of the company's stock, valued at $88,445. This represents a 75.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel David Adam Travin sold 2,288 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was 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. Corporate insiders own 11.75% of the company's stock.

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.