Public Sector Pension Investment Board Purchases 16,105 Shares of PJT Partners Inc. (NYSE:PJT)

Key Points

• The Public Sector Pension Investment Board increased its stake in PJT Partners Inc. by 27.2%, acquiring an additional 16,105 shares for a total of 75,206 shares worth approximately $10.4 million.
• Analysts have given PJT Partners an average rating of "Hold" with a consensus price target of $174.67, amidst mixed ratings from multiple research firms.
• PJT Partners recently reported $1.54 EPS for the quarter, beating estimates, and announced a quarterly dividend of $0.25 per share, showcasing a dividend yield of 0.5%.

Public Sector Pension Investment Board raised its holdings in PJT Partners Inc. (NYSE:PJT - Free Report) by 27.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 75,206 shares of the financial services provider's stock after buying an additional 16,105 shares during the quarter. Public Sector Pension Investment Board owned about 0.32% of PJT Partners worth $10,369,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. SouthState Corp grew its position in shares of PJT Partners by 126.7% in the 1st quarter. SouthState Corp now owns 544 shares of the financial services provider's stock worth $75,000 after buying an additional 304 shares during the last quarter. Nuveen LLC bought a new stake in shares of PJT Partners in the 1st quarter worth approximately $12,587,000. Virtu Financial LLC bought a new stake in shares of PJT Partners in the 1st quarter worth approximately $392,000. Sierra Summit Advisors LLC bought a new stake in shares of PJT Partners in the 1st quarter worth approximately $578,000. Finally, Townsquare Capital LLC grew its position in shares of PJT Partners by 21.1% in the 1st quarter. Townsquare Capital LLC now owns 49,581 shares of the financial services provider's stock worth $6,836,000 after buying an additional 8,652 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PJT has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods raised their target price on PJT Partners from $161.00 to $199.00 and gave the company a "market perform" rating in a research note on Monday, July 14th. Wolfe Research restated an "underperform" rating on shares of PJT Partners in a research note on Thursday, July 10th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $174.67.

PJT Partners Price Performance

Shares of PJT traded down $4.07 during trading hours on Friday, hitting $179.53. The stock had a trading volume of 223,002 shares, compared to its average volume of 256,335. PJT Partners Inc. has a 12 month low of $116.07 and a 12 month high of $190.27. The firm has a market capitalization of $4.36 billion, a PE ratio of 30.85 and a beta of 0.77. The stock has a fifty day moving average price of $172.08 and a 200 day moving average price of $156.41.

PJT Partners (NYSE:PJT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.54 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $343.11 million. During the same quarter in the previous year, the company posted $1.19 earnings per share. PJT Partners's revenue was up 13.0% compared to the same quarter last year. As a group, analysts anticipate that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 17th. Shareholders of record on Wednesday, September 3rd will be issued 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 payout ratio is currently 17.18%.

Insider Buying and Selling at PJT Partners

In other PJT Partners news, Director Kievdi Don Cornwell sold 10,403 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $150.29, for a total transaction of $1,563,466.87. Following the completion of the sale, the director owned 8,847 shares of the company's stock, valued at approximately $1,329,615.63. The trade was a 54.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Grace Reksten Skaugen sold 1,504 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $176.89, for a total value of $266,042.56. Following the sale, the director directly owned 500 shares of the company's stock, valued at $88,445. This represents a 75.05% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,792 shares of company stock valued at $3,686,825. Company insiders own 11.75% of the company's stock.

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.