Louisiana State Employees Retirement System Makes New Investment in PJT Partners Inc. $PJT

Key Points

• Louisiana State Employees Retirement System opened a new position in PJT Partners during the first quarter, buying 10,800 shares valued at about $1.51 million.
• Analysts are mixed on the stock: Goldman Sachs upgraded PJT to buy, while the overall consensus remains Hold with an average price target of $173.33.
• PJT reported better-than-expected quarterly results, with EPS of $1.54 and revenue of $418.2 million, while also paying a quarterly dividend of $0.25 per share.

Louisiana State Employees Retirement System bought a new stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,800 shares of the financial services provider's stock, valued at approximately $1,509,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oregon Public Employees Retirement Fund increased its position in shares of PJT Partners by 1.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,563 shares of the financial services provider's stock worth $930,000 after purchasing an additional 64 shares in the last quarter. Crestwood Advisors Group LLC raised its stake in PJT Partners by 0.5% in the 4th quarter. Crestwood Advisors Group LLC now owns 14,339 shares of the financial services provider's stock valued at $2,397,000 after purchasing an additional 66 shares during the last quarter. Maryland State Retirement & Pension System lifted its holdings in PJT Partners by 1.9% in the 4th quarter. Maryland State Retirement & Pension System now owns 3,561 shares of the financial services provider's stock valued at $595,000 after purchasing an additional 67 shares in the last quarter. New Age Alpha Advisors LLC lifted its holdings in PJT Partners by 6.9% in the 4th quarter. New Age Alpha Advisors LLC now owns 1,203 shares of the financial services provider's stock valued at $201,000 after purchasing an additional 78 shares in the last quarter. Finally, HighTower Advisors LLC boosted its stake in PJT Partners by 1.4% during the 4th quarter. HighTower Advisors LLC now owns 5,661 shares of the financial services provider's stock worth $946,000 after purchasing an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group upgraded shares of PJT Partners from a "neutral" rating to a "buy" rating and set a $170.00 target price for the company in a research report on Wednesday, April 1st. Weiss Ratings restated a "hold (c)" rating on shares of PJT Partners in a research report on Friday, May 29th. UBS Group upped their price objective on shares of PJT Partners from $152.00 to $160.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Wall Street Zen downgraded shares of PJT Partners from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. Finally, Keefe, Bruyette & Woods raised their target price on shares of PJT Partners from $166.00 to $175.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, PJT Partners currently has an average rating of "Hold" and an average price target of $173.33.

Insider Transactions at PJT Partners

In other PJT Partners news, General Counsel David Adam Travin sold 3,000 shares of PJT Partners stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total transaction of $457,290.00. Following the transaction, the general counsel directly owned 2,052 shares of the company's stock, valued at $312,786.36. The trade was a 59.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Helen T. Meates sold 8,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $153.19, for a total transaction of $1,225,520.00. Following the completion of the sale, the chief financial officer directly owned 58,466 shares of the company's stock, valued at approximately $8,956,406.54. This trade represents a 12.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 10.98% of the stock is owned by insiders.

PJT Partners Stock Up 4.7%

Shares of NYSE:PJT opened at $163.18 on Friday. PJT Partners Inc. has a 52-week low of $127.73 and a 52-week high of $195.62. The stock has a market cap of $4.21 billion, a P/E ratio of 23.79 and a beta of 0.85. The business has a fifty day moving average of $155.00 and a two-hundred day moving average of $157.37.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate of $1.51 by $0.03. The business had revenue of $418.20 million for the quarter, compared to analyst estimates of $409.38 million. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.The company's quarterly revenue was up 28.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 EPS. On average, equities analysts anticipate that PJT Partners Inc. will post 7.5 earnings per share for the current year.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.6%. The ex-dividend date was Wednesday, June 3rd. PJT Partners's dividend payout ratio (DPR) is presently 14.58%.

PJT Partners Profile

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm's dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.

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