PJT Partners Inc. $PJT Shares Purchased by Mutual of America Capital Management LLC

Key Points

• Mutual of America Capital Management LLC increased its stake in PJT Partners by 36.5%, owning approximately 65,784 shares valued at about $10.9 million as of the latest reporting period.
• PJT Partners announced a quarterly dividend of $0.25 per share, representing an annualized yield of 0.6% and a dividend payout ratio of 17.18%.
• Research analysts have set a consensus price target of $185.00 for PJT Partners, with ratings varying from "Strong Buy" to "Sell."

Mutual of America Capital Management LLC boosted its holdings in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 36.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,784 shares of the financial services provider's stock after acquiring an additional 17,602 shares during the period. Mutual of America Capital Management LLC owned about 0.27% of PJT Partners worth $10,855,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PJT. Nuveen LLC acquired a new position in PJT Partners during the first quarter worth about $12,587,000. Massachusetts Financial Services Co. MA raised its position in PJT Partners by 52.7% during 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 acquiring an additional 58,656 shares during the last quarter. Millennium Management LLC raised its position in PJT Partners by 1,394.5% during the first quarter. Millennium Management LLC now owns 52,563 shares of the financial services provider's stock worth $7,247,000 after acquiring an additional 49,046 shares during the last quarter. Trexquant Investment LP raised its position in PJT Partners by 188.2% during the first quarter. Trexquant Investment LP now owns 51,966 shares of the financial services provider's stock worth $7,165,000 after acquiring an additional 33,934 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in PJT Partners during the first quarter worth about $3,948,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Buying and Selling

In other PJT Partners news, General Counsel David Adam Travin sold 2,288 shares of the business's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $178.06, for a total transaction of $407,401.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Grace Reksten Skaugen sold 1,504 shares of the firm's 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 11.75% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Evercore ISI set a $180.00 price target on PJT Partners in a research note on Monday, October 13th. BMO Capital Markets started coverage on PJT Partners in a research note on Friday, October 3rd. They issued an "outperform" rating and a $205.00 price target on the stock. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of PJT Partners in a research note on Wednesday, October 8th. Wolfe Research reiterated an "underperform" rating on shares of PJT Partners in a report on Thursday, July 10th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of PJT Partners from $196.00 to $180.00 and set a "hold" rating for the company in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, PJT Partners currently has an average rating of "Hold" and a consensus price target of $185.00.

PJT Partners Trading Up 1.3%

Shares of NYSE:PJT opened at $177.01 on Monday. The firm has a market cap of $4.30 billion, a PE ratio of 30.41 and a beta of 0.76. The company has a fifty day simple moving average of $179.49 and a 200 day simple moving average of $163.86. PJT Partners Inc. has a 12-month low of $119.76 and a 12-month high of $190.27.

PJT Partners (NYSE:PJT - Get Free Report) last released its earnings results on Tuesday, July 29th. The financial services provider reported $1.54 EPS for the quarter, topping analysts' consensus estimates 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 quarter last year, the business posted $1.19 EPS. PJT Partners's quarterly revenue was up 13.0% compared to the same quarter last year. As a group, equities research analysts forecast that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd were given a $0.25 dividend. The ex-dividend date was Wednesday, September 3rd. This represents a $1.00 annualized dividend and a yield of 0.6%. PJT Partners's dividend payout ratio is 17.18%.

PJT Partners Company 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.

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