Hsbc Holdings PLC Acquires 28,436 Shares of PJT Partners Inc. $PJT

Key Points

• Hsbc Holdings PLC increased its stake in PJT Partners Inc. by 189.5%, owning 43,440 shares valued at approximately $5.91 million.
• PJT Partners reported a quarterly earnings per share of $1.54, surpassing the consensus estimate of $1.36, with revenue up by 13% year-over-year.
• The company declared a quarterly dividend of $0.25 per share, which will be paid on September 17th, representing a 0.6% yield.

Hsbc Holdings PLC boosted its position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 189.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,440 shares of the financial services provider's stock after acquiring an additional 28,436 shares during the period. Hsbc Holdings PLC owned 0.19% of PJT Partners worth $5,905,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PJT. Versant Capital Management Inc acquired a new position in shares of PJT Partners during the 1st quarter worth about $30,000. Opal Wealth Advisors LLC bought a new position in PJT Partners in the 1st quarter worth approximately $39,000. Morse Asset Management Inc lifted 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 during the last quarter. SouthState Corp boosted its position in shares of PJT Partners by 126.7% in the first quarter. SouthState Corp now owns 544 shares of the financial services provider's stock valued at $75,000 after acquiring an additional 304 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of PJT Partners by 33.4% in the first quarter. GAMMA Investing LLC now owns 595 shares of the financial services provider's stock valued at $82,000 after acquiring an additional 149 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, General Counsel David Adam Travin sold 2,288 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $178.06, for a total transaction of $407,401.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Grace Reksten Skaugen sold 1,504 shares of PJT Partners stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $176.89, for a total transaction of $266,042.56. Following the transaction, the director directly owned 500 shares of the company's stock, 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. Corporate insiders own 11.75% of the company's stock.

PJT Partners Stock Performance

Shares of NYSE:PJT traded down $2.60 during midday trading on Friday, reaching $178.82. 296,246 shares of the company's stock were exchanged, compared to its average volume of 201,259. The company's 50 day simple moving average is $177.00 and its two-hundred day simple moving average is $156.78. PJT Partners Inc. has a 12 month low of $116.07 and a 12 month high of $190.27. The firm has a market capitalization of $4.35 billion, a PE ratio of 30.73 and a beta of 0.75.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.18. The firm had revenue of $731.09 billion during the quarter, compared to analyst estimates of $343.11 million. PJT Partners had a net margin of 10.45% and a return on equity of 25.61%. The company's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.19 earnings per share. On average, research analysts anticipate that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Investors 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 yield of 0.6%. PJT Partners's payout ratio is currently 17.18%.

Analyst Ratings Changes

Several equities analysts recently commented on PJT shares. Keefe, Bruyette & Woods upped their target price 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. Wolfe Research reaffirmed an "underperform" rating on shares of PJT Partners in a research report on Thursday, July 10th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $174.67.

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.