BNP Paribas Financial Markets Raises Holdings in PJT Partners Inc. $PJT

Key Points

• BNP Paribas Financial Markets increased its PJT Partners stake by 10.1% in the fourth quarter, ending with 80,144 shares worth about $13.4 million.
• Several other institutional investors also added to their PJT positions, and hedge funds plus other institutions now own 89.23% of the company’s shares.
• PJT Partners reported better-than-expected quarterly results with EPS of $1.54 and revenue of $418.2 million, while analysts’ consensus remains a Hold with a target price of $173.33.

BNP Paribas Financial Markets grew its position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 80,144 shares of the financial services provider's stock after purchasing an additional 7,362 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.33% of PJT Partners worth $13,400,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in PJT. Oregon Public Employees Retirement Fund increased its stake in PJT Partners by 1.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,563 shares of the financial services provider's stock valued at $930,000 after purchasing an additional 64 shares during the period. Crestwood Advisors Group LLC increased its stake in PJT Partners by 0.5% in the fourth quarter. Crestwood Advisors Group LLC now owns 14,339 shares of the financial services provider's stock valued at $2,397,000 after purchasing an additional 66 shares during the period. New Age Alpha Advisors LLC increased its stake in PJT Partners by 6.9% in the fourth quarter. New Age Alpha Advisors LLC now owns 1,203 shares of the financial services provider's stock valued at $201,000 after purchasing an additional 78 shares during the period. HighTower Advisors LLC increased its stake in PJT Partners by 1.4% in the fourth quarter. HighTower Advisors LLC now owns 5,661 shares of the financial services provider's stock valued at $946,000 after purchasing an additional 78 shares during the period. Finally, Linden Thomas Advisory Services LLC increased its stake in PJT Partners by 3.3% in the third quarter. Linden Thomas Advisory Services LLC now owns 2,551 shares of the financial services provider's stock valued at $453,000 after purchasing an additional 81 shares during the period. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insider Transactions at PJT Partners

In related news, CFO Helen T. Meates sold 8,000 shares of the business's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $153.19, for a total transaction of $1,225,520.00. Following the sale, the chief financial officer owned 58,466 shares of the company's stock, valued at approximately $8,956,406.54. The trade was a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel David Adam Travin sold 3,000 shares of the business's stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total transaction of $457,290.00. Following the sale, the general counsel directly owned 2,052 shares in the company, valued at approximately $312,786.36. This represents a 59.38% decrease in their position. The SEC filing for this sale provides additional information. 10.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on PJT. Keefe, Bruyette & Woods lifted their price objective on shares of PJT Partners from $166.00 to $175.00 and gave the company an "outperform" rating in a research note on Wednesday, April 29th. Weiss Ratings restated a "hold (c)" rating on shares of PJT Partners in a research note on Friday, May 29th. The Goldman Sachs Group upgraded shares of PJT Partners from a "neutral" rating to a "buy" rating and set a $170.00 price target on the stock in a research note on Wednesday, April 1st. Wall Street Zen lowered shares of PJT Partners from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Finally, Zacks Research lowered shares of PJT Partners from a "hold" rating to a "strong sell" rating in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $173.33.

PJT Partners Stock Down 0.1%

Shares of PJT Partners stock opened at $157.01 on Monday. PJT Partners Inc. has a 52-week low of $127.73 and a 52-week high of $195.62. The company's 50-day simple moving average is $152.52 and its 200-day simple moving average is $159.23. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 22.89 and a beta of 0.85.

PJT Partners (NYSE:PJT - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.51 by $0.03. The firm had revenue of $418.20 million for the quarter, compared to the consensus estimate of $409.38 million. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The firm's revenue was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 earnings per share. Equities research analysts anticipate that PJT Partners Inc. will post 7.5 EPS for the current year.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. PJT Partners's payout ratio is currently 14.58%.

About PJT Partners

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm's dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.

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