Nuveen LLC Purchases Shares of 91,290 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 purchased a new stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 91,290 shares of the financial services provider's stock, valued at approximately $12,587,000. Nuveen LLC owned approximately 0.39% of PJT Partners as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of PJT. Congress Asset Management Co. raised its stake in PJT Partners by 19.7% in the first 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 in the last quarter. Massachusetts Financial Services Co. MA raised its stake in PJT Partners by 52.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 169,986 shares of the financial services provider's stock worth $23,438,000 after buying an additional 58,656 shares in the last quarter. Principal Financial Group Inc. raised its stake in 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 worth $19,797,000 after buying an additional 3,645 shares in the last quarter. TimesSquare Capital Management LLC raised its stake 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 worth $18,318,000 after buying an additional 1,904 shares in the last quarter. Finally, Tidal Investments LLC bought a new position in PJT Partners in the fourth quarter worth approximately $20,059,000. Institutional investors own 89.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PJT shares. Wolfe Research reissued an "underperform" rating on shares of PJT Partners in a research note on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price objective 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. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, PJT Partners presently has a consensus rating of "Reduce" and an average price target of $174.67.

Insider Activity at PJT Partners

In other news, Director Grace Reksten Skaugen sold 1,504 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $176.89, for a total value of $266,042.56. Following the completion of the sale, the director owned 500 shares of the company's stock, valued at $88,445. This represents a 75.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel David Adam Travin sold 2,288 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was 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. In the last quarter, insiders sold 23,792 shares of company stock valued at $3,686,825. Corporate insiders own 11.75% of the company's stock.

PJT Partners Stock Down 1.4%

Shares of PJT traded down $2.6060 during trading hours on Monday, reaching $178.1240. 140,690 shares of the company traded hands, compared to its average volume of 275,600. The stock has a market capitalization of $4.33 billion, a P/E ratio of 30.61 and a beta of 0.77. The business has a fifty day moving average price of $174.36 and a 200-day moving average price of $156.55. PJT Partners Inc. has a 12-month low of $116.07 and a 12-month high of $190.27.

PJT Partners (NYSE:PJT - Get Free Report) last issued 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. The business had revenue of $731.09 billion during the quarter, compared to the consensus estimate of $343.11 million. PJT Partners had a net margin of 10.45% and a return on equity of 25.61%. The company's revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.19 earnings per share. As a group, research analysts predict that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors 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 of this dividend is Wednesday, September 3rd. PJT Partners's dividend payout ratio is currently 17.18%.

PJT Partners 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.