PJT Partners Inc. $PJT Shares Bought by Credit Agricole S A

Key Points

• Credit Agricole S A increased its holdings in PJT Partners Inc. by 142.7% during the first quarter, now owning 17,515 shares valued at approximately $2.415 million.
• PJT Partners reported an earnings per share (EPS) of $1.54 for the last quarter, exceeding analysts' estimates of $1.36, and showing a 13.0% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.25 per share, with a dividend yield of 0.6%, scheduled to be paid on September 17th.

Credit Agricole S A raised its stake in PJT Partners Inc. (NYSE:PJT - Free Report) by 142.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,515 shares of the financial services provider's stock after purchasing an additional 10,298 shares during the period. Credit Agricole S A owned 0.08% of PJT Partners worth $2,415,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PJT. Renaissance Technologies LLC purchased a new position in PJT Partners in the fourth quarter valued at approximately $316,000. XTX Topco Ltd purchased a new position in PJT Partners in the fourth quarter valued at approximately $248,000. MetLife Investment Management LLC increased its stake in PJT Partners by 1.6% in the fourth quarter. MetLife Investment Management LLC now owns 13,827 shares of the financial services provider's stock valued at $2,182,000 after purchasing an additional 213 shares during the last quarter. Stifel Financial Corp increased its stake in PJT Partners by 50.0% in the fourth quarter. Stifel Financial Corp now owns 10,875 shares of the financial services provider's stock valued at $1,716,000 after purchasing an additional 3,626 shares during the last quarter. Finally, Hsbc Holdings PLC increased its stake in PJT Partners by 72.5% in the fourth quarter. Hsbc Holdings PLC now owns 15,004 shares of the financial services provider's stock valued at $2,385,000 after purchasing an additional 6,304 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Grace Reksten Skaugen sold 1,504 shares of PJT Partners stock in a transaction 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 transaction, the director directly owned 500 shares in the company, valued at $88,445. This trade represents a 75.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel David Adam Travin sold 2,288 shares of PJT Partners stock in a transaction on 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. Company insiders own 11.75% of the company's stock.

PJT Partners Price Performance

Shares of PJT traded down $3.95 during mid-day trading on Friday, reaching $177.47. 16,168 shares of the company's stock were exchanged, compared to its average volume of 271,970. The business's fifty day simple moving average is $176.52 and its 200-day simple moving average is $156.97. PJT Partners Inc. has a 52-week low of $116.07 and a 52-week high of $190.27. The stock has a market capitalization of $4.31 billion, a PE ratio of 30.56 and a beta of 0.77.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.18. PJT Partners had a net margin of 10.45% and a return on equity of 25.61%. The firm had revenue of $731.09 billion for the quarter, compared to analyst estimates of $343.11 million. During the same period last year, the firm posted $1.19 EPS. PJT Partners's quarterly revenue was up 13.0% on a year-over-year basis. Equities research analysts predict that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Wednesday, September 3rd. PJT Partners's dividend payout ratio (DPR) is 17.18%.

Wall Street Analyst Weigh In

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 raised their target price on shares of PJT Partners from $161.00 to $199.00 and gave the stock a "market perform" rating in a research report on Monday, July 14th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $174.67.

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.