CW Advisors LLC Buys 8,297 Shares of PJT Partners Inc. $PJT

Key Points

• CW Advisors LLC increased its stake in PJT Partners by 12.5%, now owning 74,859 shares valued at approximately $10.3 million.
• Four analysts rated PJT Partners with a Hold rating, while one issued a Sell rating, with a consensus price target of $174.67.
• PJT Partners recently announced a quarterly dividend of $0.25 per share, yielding 0.6% annually, with a payout ratio of 17.18%.

CW Advisors LLC grew its position in PJT Partners Inc. (NYSE:PJT - Free Report) by 12.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,859 shares of the financial services provider's stock after purchasing an additional 8,297 shares during the quarter. CW Advisors LLC owned approximately 0.32% of PJT Partners worth $10,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. New York State Teachers Retirement System boosted its position 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 purchasing 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 approximately $555,000. Principal Financial Group Inc. boosted its position in shares of PJT Partners by 2.6% during the first quarter. Principal Financial Group Inc. now owns 143,579 shares of the financial services provider's stock worth $19,797,000 after acquiring an additional 3,645 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of PJT Partners by 18,294.4% during the first quarter. GAMMA Investing LLC now owns 82,039 shares of the financial services provider's stock worth $11,312,000 after acquiring an additional 81,593 shares during the last quarter. Finally, Richard Bernstein Advisors LLC bought a new position in shares of PJT Partners during the first quarter worth $3,373,000. 89.23% of the stock is currently owned by institutional investors.

PJT Partners Stock Down 0.2%

PJT Partners stock traded down $0.31 during mid-day trading on Wednesday, reaching $181.64. 30,206 shares of the company's stock traded hands, compared to its average volume of 273,456. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 31.16 and a beta of 0.77. The stock has a 50 day moving average of $175.43 and a two-hundred day moving average of $156.76. PJT Partners Inc. has a 12-month low of $116.07 and a 12-month high of $190.27.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $343.11 million. During the same quarter in the prior year, the firm posted $1.19 earnings per share. The business's revenue for the quarter was up 13.0% on a year-over-year basis. As a group, sell-side analysts forecast that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. PJT Partners's dividend payout ratio is currently 17.18%.

Analysts Set New Price Targets

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

Insider Activity

In other news, General Counsel David Adam Travin sold 2,288 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $178.06, for a total value of $407,401.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Grace Reksten Skaugen sold 1,504 shares of the company's stock in a transaction dated 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 owned 500 shares in the company, valued at approximately $88,445. The trade was a 75.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,792 shares of company stock valued at $3,686,825. 11.75% of the stock is currently owned by company insiders.

PJT Partners 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.