Congress Asset Management Co. Boosts Stock Holdings in PJT Partners Inc. $PJT

Key Points

• Congress Asset Management Co. increased its stake in PJT Partners Inc. by 3.8%, owning approximately 2.06% of the company worth $83.19 million as of the latest SEC filing.
• The company's stock is currently rated with a consensus of "Reduce" and an average price target of $174.67, with a recent analyst upgrade raising its price objective from $161.00 to $199.00.
• PJT Partners recently declared a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 0.6% and a dividend payout ratio of 17.18%.

Congress Asset Management Co. raised its position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 3.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 504,146 shares of the financial services provider's stock after acquiring an additional 18,571 shares during the quarter. Congress Asset Management Co. owned approximately 2.06% of PJT Partners worth $83,189,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PJT. Versant Capital Management Inc purchased a new stake in shares of PJT Partners during the first quarter worth approximately $30,000. Opal Wealth Advisors LLC purchased a new position in PJT Partners in the 1st quarter valued at $39,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in PJT Partners during the 1st quarter worth $45,000. Quarry LP acquired a new stake in PJT Partners during the 1st quarter worth $45,000. Finally, Morse Asset Management Inc grew its holdings in shares of PJT Partners by 1,640.0% during the first quarter. Morse Asset Management Inc now owns 435 shares of the financial services provider's stock worth $60,000 after buying an additional 410 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wolfe Research reiterated an "underperform" rating on shares of PJT Partners in a research report on Thursday, July 10th. Keefe, Bruyette & Woods upped their price objective on shares of PJT Partners from $161.00 to $199.00 and gave the company a "market perform" rating in a research note on Monday, July 14th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $174.67.

PJT Partners Stock Down 0.7%

NYSE PJT opened at $180.86 on Friday. PJT Partners Inc. has a 52 week low of $119.76 and a 52 week high of $190.27. The business's fifty day simple moving average is $181.06 and its 200-day simple moving average is $159.67. The firm has a market cap of $4.40 billion, a PE ratio of 31.08 and a beta of 0.75.

PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share (EPS) 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 firm had revenue of $731.09 billion during the quarter, compared to analyst estimates of $343.11 million. During the same quarter in the prior year, the firm posted $1.19 earnings per share. PJT Partners's quarterly revenue was up 13.0% on a year-over-year basis. Research analysts expect that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. PJT Partners's dividend payout ratio (DPR) is currently 17.18%.

Insider Buying and Selling

In other 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Grace Reksten Skaugen sold 1,504 shares of the company's stock in a transaction that occurred 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 owned 500 shares in the company, valued at $88,445. This represents a 75.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.75% of the stock is owned by company insiders.

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.

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