Jump Financial LLC Takes $802,000 Position in PJT Partners Inc. $PJT

Key Points

• Jump Financial LLC acquired 5,817 shares of PJT Partners Inc., totaling approximately $802,000, as reported in its recent SEC filing.
• PJT Partners has a consensus rating of "Reduce" from analysts, with a revised price target set by Keefe, Bruyette & Woods at $199.00.
• The company announced a quarterly dividend of $0.25 per share, with a dividend yield of 0.6%, to be paid on September 17th.

Jump Financial LLC acquired a new stake in PJT Partners Inc. (NYSE:PJT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,817 shares of the financial services provider's stock, valued at approximately $802,000.

Other hedge funds also recently 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 valued at $1,689,000 after acquiring an additional 1,254 shares during the period. Millennium Management LLC bought a new stake in shares of PJT Partners in the fourth quarter valued at approximately $555,000. Principal Financial Group Inc. boosted its position in shares of PJT Partners by 2.6% in the first quarter. Principal Financial Group Inc. now owns 143,579 shares of the financial services provider's stock valued at $19,797,000 after acquiring an additional 3,645 shares during the period. GAMMA Investing LLC boosted its position in shares of PJT Partners by 18,294.4% in the first quarter. GAMMA Investing LLC now owns 82,039 shares of the financial services provider's stock valued at $11,312,000 after acquiring an additional 81,593 shares during the period. Finally, Richard Bernstein Advisors LLC bought a new stake in shares of PJT Partners in the first quarter valued at approximately $3,373,000. 89.23% of the stock is owned by institutional investors.

Insider Buying and Selling at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 2,288 shares of the stock in a transaction on Thursday, July 31st. The stock was 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 Securities & Exchange Commission, which is available through this link. Also, Director Grace Reksten Skaugen sold 1,504 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $176.89, for a total value of $266,042.56. Following the transaction, the director 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PJT shares. Keefe, Bruyette & Woods increased their price objective on PJT Partners from $161.00 to $199.00 and gave the company a "market perform" rating in a research report 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 issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $174.67.

PJT Partners Stock Down 1.7%

PJT Partners stock traded down $2.94 during mid-day trading on Wednesday, hitting $173.92. 177,806 shares of the company were exchanged, compared to its average volume of 272,335. The business has a fifty day moving average of $177.66 and a 200 day moving average of $156.94. PJT Partners Inc. has a 1-year low of $116.07 and a 1-year high of $190.27. The company has a market capitalization of $4.23 billion, a PE ratio of 29.88 and a beta of 0.75.

PJT Partners (NYSE:PJT - Get Free Report) last released its quarterly earnings data 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. PJT Partners had a return on equity of 25.61% and a net margin of 10.45%.The firm had revenue of $731.09 billion during the quarter, compared to analyst estimates of $343.11 million. During the same period in the prior year, the company posted $1.19 earnings per share. The business's revenue for the quarter was up 13.0% compared to the same quarter last year. Research analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

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

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.