PJT Partners Inc. (NYSE:PJT) Shares Acquired by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS increased its holdings in PJT Partners Inc. by 60.9%, owning 7,400 shares valued at approximately $1.02 million as of the end of the first quarter.
• PJT Partners reported earnings of $1.05 EPS for the latest quarter, exceeding analyst estimates of $0.94, although revenue of $324.5 million fell short of expectations of $361.26 million.
• The company declared a quarterly dividend of $0.25, yielding 0.55%, with a total annualized dividend of $1.00, reflecting a payout ratio of 17.64%.

KLP Kapitalforvaltning AS grew its holdings in PJT Partners Inc. (NYSE:PJT - Free Report) by 60.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,400 shares of the financial services provider's stock after purchasing an additional 2,800 shares during the quarter. KLP Kapitalforvaltning AS's holdings in PJT Partners were worth $1,020,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PJT. FMR LLC boosted its stake in shares of PJT Partners by 52.8% in the fourth quarter. FMR LLC now owns 637,797 shares of the financial services provider's stock valued at $100,651,000 after purchasing an additional 220,526 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of PJT Partners by 658.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 181,406 shares of the financial services provider's stock valued at $28,628,000 after purchasing an additional 157,483 shares during the period. Norges Bank purchased a new position in shares of PJT Partners in the fourth quarter valued at approximately $20,269,000. Tidal Investments LLC purchased a new position in shares of PJT Partners in the fourth quarter valued at approximately $20,059,000. Finally, Vanguard Group Inc. boosted its stake in shares of PJT Partners by 5.3% in the fourth quarter. Vanguard Group Inc. now owns 2,515,600 shares of the financial services provider's stock valued at $396,987,000 after purchasing an additional 127,060 shares during the period. Hedge funds and other institutional investors own 89.23% of the company's stock.

PJT Partners Stock Down 0.2%

PJT Partners stock traded down $0.29 during trading on Friday, reaching $178.34. The stock had a trading volume of 88,587 shares, compared to its average volume of 282,092. PJT Partners Inc. has a 52-week low of $116.06 and a 52-week high of $190.27. The business has a 50 day moving average price of $165.43 and a 200 day moving average price of $155.01. The stock has a market cap of $4.36 billion, a PE ratio of 30.65 and a beta of 0.76.

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 for the quarter, topping analysts' consensus estimates of $1.36 by $0.18. PJT Partners had a net margin of 10.45% and a return on equity of 25.47%. The company had revenue of $731.09 billion for the quarter, compared to analysts' expectations of $343.11 million. During the same quarter last year, the company earned $1.19 earnings per share. The firm's revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities analysts predict that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Dividend Announcement

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 issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. PJT Partners's dividend payout ratio (DPR) is presently 17.18%.

Insiders Place Their Bets

In other PJT Partners news, Director Kievdi Don Cornwell sold 10,403 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $150.29, for a total transaction of $1,563,466.87. Following the sale, the director owned 8,847 shares of the company's stock, valued at approximately $1,329,615.63. This trade represents a 54.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.75% of the company's stock.

Analyst Upgrades and Downgrades

PJT has been the subject of a number of recent research reports. Wolfe Research reiterated an "underperform" rating on shares of PJT Partners in a research note on Thursday, July 10th. Keefe, Bruyette & Woods lifted their price target on shares of PJT Partners from $161.00 to $199.00 and gave the stock a "market perform" rating in a research note on Monday, July 14th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price 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.