Nuveen LLC Makes New Investment in PJT Partners Inc. $PJT

Key Points

• Nuveen LLC has invested approximately $12.59 million in PJT Partners, acquiring 91,290 shares, which represents 0.39% ownership as per its recent SEC filing.
• PJT Partners has reported an EPS of $1.54 for the last quarter, exceeding the consensus estimate of $1.36, and showing a year-over-year revenue increase of 13.0%.
• The company has declared a quarterly dividend of $0.25 per share, with a dividend yield of 0.6%, payable on September 17th to stockholders of record.

Nuveen LLC acquired a new position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 91,290 shares of the financial services provider's stock, valued at approximately $12,587,000. Nuveen LLC owned about 0.39% of PJT Partners at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Congress Asset Management Co. lifted its holdings in PJT Partners by 19.7% during the 1st quarter. Congress Asset Management Co. now owns 485,575 shares of the financial services provider's stock worth $66,951,000 after buying an additional 79,894 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of PJT Partners by 52.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 169,986 shares of the financial services provider's stock worth $23,438,000 after acquiring an additional 58,656 shares in the last quarter. Principal Financial Group Inc. lifted its stake in 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 purchasing an additional 3,645 shares during the last quarter. TimesSquare Capital Management LLC boosted its holdings in PJT Partners by 1.5% in the first quarter. TimesSquare Capital Management LLC now owns 132,852 shares of the financial services provider's stock valued at $18,318,000 after purchasing an additional 1,904 shares in the last quarter. Finally, Tidal Investments LLC acquired a new position in PJT Partners in the fourth quarter valued at approximately $20,059,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

PJT Partners Stock Down 0.1%

PJT traded down $0.24 on Wednesday, hitting $181.71. 148,750 shares of the company traded hands, compared to its average volume of 225,991. PJT Partners Inc. has a 12-month low of $116.07 and a 12-month high of $190.27. The company has a 50 day moving average of $175.98 and a 200-day moving average of $156.93. The stock has a market capitalization of $4.42 billion, a PE ratio of 31.22 and a beta of 0.77.

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 return on equity of 25.61% and a net margin of 10.45%.The company had revenue of $731.09 billion for the quarter, compared to the consensus estimate of $343.11 million. During the same period last year, the business posted $1.19 EPS. The company's revenue was up 13.0% on a year-over-year basis. On average, research analysts anticipate that PJT Partners Inc. will post 6.2 EPS 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. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Wednesday, September 3rd. PJT Partners's dividend payout ratio (DPR) is 17.18%.

Analyst Upgrades and Downgrades

PJT has been the topic of several recent analyst reports. Wolfe Research reiterated an "underperform" rating on shares of PJT Partners in a research note on Thursday, July 10th. 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 report on Monday, July 14th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $174.67.

Insider Activity

In other news, Director Kievdi Don Cornwell sold 10,403 shares of the business's stock in a transaction dated 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 transaction, the director directly owned 8,847 shares in the company, valued at $1,329,615.63. The trade was a 54.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel David Adam Travin sold 2,288 shares of the firm's 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 disclosure for this sale can be found here. Insiders have sold a total of 23,792 shares of company stock valued at $3,686,825 over the last quarter. Corporate insiders own 11.75% of the company's stock.

About PJT Partners

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.