Public Employees Retirement System of Ohio Has $4.05 Million Position in PJT Partners Inc. $PJT

Key Points

• The Public Employees Retirement System of Ohio increased its stake in PJT Partners by 26.8%, owning about 0.10% of the company, valued at approximately $4.05 million.
• PJT Partners reported a 13.0% increase in revenue year-over-year, with earnings per share of $1.54, exceeding the analyst estimate of $1.36.
• The company declared a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 0.6% and a payout ratio of 17.18%.

Public Employees Retirement System of Ohio increased its stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 26.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,561 shares of the financial services provider's stock after buying an additional 5,189 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.10% of PJT Partners worth $4,053,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Revisor Wealth Management LLC acquired a new stake in PJT Partners during the second quarter worth approximately $234,000. Farther Finance Advisors LLC grew its position in PJT Partners by 54.1% during the second quarter. Farther Finance Advisors LLC now owns 755 shares of the financial services provider's stock worth $125,000 after buying an additional 265 shares in the last quarter. Moody National Bank Trust Division acquired a new stake in PJT Partners during the second quarter worth approximately $202,000. Wealth Enhancement Advisory Services LLC acquired a new stake in PJT Partners during the second quarter worth approximately $298,000. Finally, Harbor Capital Advisors Inc. grew its position in PJT Partners by 12.2% during the second quarter. Harbor Capital Advisors Inc. now owns 8,417 shares of the financial services provider's stock worth $1,389,000 after buying an additional 916 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wolfe Research restated an "underperform" rating on shares of PJT Partners in a research note on Thursday, July 10th. Keefe, Bruyette & Woods upped their target price on 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 research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $174.67.

PJT Partners Stock Performance

Shares of PJT opened at $177.71 on Wednesday. PJT Partners Inc. has a 52 week low of $119.76 and a 52 week high of $190.27. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 30.53 and a beta of 0.75. The stock has a fifty day moving average of $180.87 and a 200-day moving average of $160.62.

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 (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.18. The business had revenue of $731.09 billion during the quarter, compared to analyst estimates of $343.11 million. PJT Partners had a return on equity of 25.61% and a net margin of 10.45%.PJT Partners's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the company earned $1.19 EPS. As a group, equities analysts forecast that PJT Partners Inc. will post 6.2 EPS for the current year.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were given 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 was Wednesday, September 3rd. PJT Partners's dividend payout ratio (DPR) is currently 17.18%.

Insider Buying and Selling at PJT Partners

In related news, General Counsel David Adam Travin sold 2,288 shares of the firm'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 through this link. Also, Director Grace Reksten Skaugen sold 1,504 shares of the firm's stock in a transaction on Thursday, August 7th. The stock was 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 of the company's stock, valued at approximately $88,445. This represents a 75.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. 11.75% of the stock is owned by company insiders.

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.

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