California State Teachers Retirement System Grows Stock Position in PJT Partners Inc. $PJT

Key Points

• California State Teachers Retirement System increased its PJT Partners stake by 27.3% in the first quarter to 27,881 shares valued at approximately $3.9 million. Institutional investors and hedge funds collectively own 89.23% of the company.
• PJT Partners reported stronger-than-expected quarterly results, with EPS of $1.97 versus the $1.57 consensus and revenue of $486.29 million, up 19.5% year over year. The stock opened at $171.21, while analysts maintain a consensus “Hold” rating and $177.50 target price.
• The company declared a quarterly dividend of $0.25 per share, equivalent to $1.00 annually and a 0.6% yield. Meanwhile, director Grace Reksten Skaugen sold 1,283 shares at an average price of $167.67.

California State Teachers Retirement System boosted its stake in PJT Partners Inc. (NYSE:PJT - Free Report) by 27.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,881 shares of the financial services provider's stock after acquiring an additional 5,980 shares during the quarter. California State Teachers Retirement System owned about 0.11% of PJT Partners worth $3,896,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Allworth Financial LP lifted its position in shares of PJT Partners by 85.8% during the fourth quarter. Allworth Financial LP now owns 288 shares of the financial services provider's stock worth $48,000 after purchasing an additional 133 shares in the last quarter. Cassaday & Co Wealth Management LLC acquired a new stake in PJT Partners during the 1st quarter valued at $50,000. State of Wyoming purchased a new stake in PJT Partners during the 2nd quarter worth $63,000. Kestra Advisory Services LLC purchased a new stake in PJT Partners during the 4th quarter worth $65,000. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in PJT Partners by 2,338.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 512 shares of the financial services provider's stock worth $86,000 after buying an additional 491 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Activity at PJT Partners

In other news, Director Grace Reksten Skaugen sold 1,283 shares of PJT Partners stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $167.67, for a total value of $215,120.61. Following the completion of the transaction, the director owned 500 shares in the company, valued at approximately $83,835. This trade represents a 71.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 10.98% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on PJT. BMO Capital Markets upped their price objective on shares of PJT Partners from $183.00 to $194.00 and gave the company an "outperform" rating in a research report on Monday, August 3rd. Wall Street Zen raised PJT Partners from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of PJT Partners in a research note on Friday, May 29th. UBS Group reissued a "neutral" rating and issued a $176.00 price target on shares of PJT Partners in a report on Wednesday, July 29th. Finally, Keefe, Bruyette & Woods raised their price objective on PJT Partners from $185.00 to $195.00 and gave the company an "outperform" rating in a research note on Wednesday, July 29th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $177.50.

PJT Partners Stock Performance

PJT opened at $171.21 on Friday. The company has a 50-day moving average of $161.27 and a 200-day moving average of $156.06. The company has a market capitalization of $4.42 billion, a P/E ratio of 23.42 and a beta of 0.84. PJT Partners Inc. has a 1-year low of $127.73 and a 1-year high of $195.62.

PJT Partners (NYSE:PJT - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.57 by $0.40. The business had revenue of $486.29 million for the quarter, compared to analysts' expectations of $425.28 million. PJT Partners had a net margin of 10.57% and a return on equity of 32.66%. The company's quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.54 earnings per share. As a group, sell-side analysts expect that PJT Partners Inc. will post 8 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 16th. Shareholders of record on Wednesday, September 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd. PJT Partners's dividend payout ratio (DPR) is currently 13.68%.

PJT Partners Company Profile

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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