PJT Partners Inc. $PJT Position Increased by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase raised its stake in PJT Partners by 28.5% in the third quarter to 110,454 shares (about 0.45% of the company), worth roughly $19.63 million.
• Analysts have a consensus rating of Hold with an average target of $174.67, and several firms (including Goldman Sachs and UBS) recently lowered price targets.
• PJT beat its latest quarterly estimates—EPS $2.55 vs. $2.41 consensus and revenue $535.2M (up 12.1% YoY)—while shares trade around $132.96, with a market cap of $3.21B and a P/E of 20.02.

JPMorgan Chase & Co. increased its stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 28.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,454 shares of the financial services provider's stock after buying an additional 24,502 shares during the quarter. JPMorgan Chase & Co. owned about 0.45% of PJT Partners worth $19,631,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. bought a new stake in PJT Partners in the third quarter valued at $436,000. Caxton Associates LLP grew its position in shares of PJT Partners by 42.8% during the third quarter. Caxton Associates LLP now owns 4,681 shares of the financial services provider's stock worth $832,000 after acquiring an additional 1,404 shares during the last quarter. Voleon Capital Management LP acquired a new stake in shares of PJT Partners in the 3rd quarter worth about $1,018,000. Voloridge Investment Management LLC lifted its position in PJT Partners by 96.7% in the 3rd quarter. Voloridge Investment Management LLC now owns 45,528 shares of the financial services provider's stock valued at $8,092,000 after purchasing an additional 22,386 shares during the last quarter. Finally, Wasatch Advisors LP bought a new stake in PJT Partners in the 3rd quarter valued at about $68,604,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PJT has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their target price on shares of PJT Partners from $197.00 to $174.00 and set a "neutral" rating for the company in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods lifted their price target on PJT Partners from $186.00 to $188.00 and gave the company a "market perform" rating in a report on Thursday, January 8th. Wolfe Research reiterated an "underperform" rating and set a $150.00 price objective on shares of PJT Partners in a research report on Wednesday, January 7th. Zacks Research lowered PJT Partners from a "strong-buy" rating to a "hold" rating in a report on Monday, January 5th. Finally, UBS Group lowered their target price on PJT Partners from $180.00 to $151.00 and set a "neutral" rating on the stock in a research report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, PJT Partners has a consensus rating of "Hold" and an average target price of $174.67.

PJT Partners Stock Performance

Shares of PJT stock opened at $132.96 on Wednesday. PJT Partners Inc. has a 1 year low of $119.76 and a 1 year high of $195.62. The business's fifty day moving average is $156.58 and its 200-day moving average is $167.72. The stock has a market cap of $3.21 billion, a PE ratio of 20.02 and a beta of 0.85.

PJT Partners (NYSE:PJT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.41 by $0.14. The business had revenue of $535.16 million during the quarter, compared to analyst estimates of $533.32 million. PJT Partners had a return on equity of 31.69% and a net margin of 10.51%.The company's revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.90 earnings per share. Equities research analysts predict that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, March 4th. PJT Partners's dividend payout ratio is presently 15.06%.

PJT Partners Company 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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