Vicus Capital Acquires New Shares in PJT Partners Inc. $PJT

Key Points

• Vicus Capital has acquired a new stake in PJT Partners, purchasing 1,795 shares valued at approximately $296,000 during the second quarter.
• PJT Partners reported a quarterly EPS of $1.54, exceeding the consensus estimate of $1.36 and showing a 13.0% year-over-year revenue increase.
• The company's stock currently holds a consensus rating of "Reduce" from analysts, with a target price of $174.67.

Vicus Capital bought a new stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 1,795 shares of the financial services provider's stock, valued at approximately $296,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Congress Asset Management Co. lifted its holdings in shares of PJT Partners by 3.8% during the second quarter. Congress Asset Management Co. now owns 504,146 shares of the financial services provider's stock valued at $83,189,000 after purchasing an additional 18,571 shares in the last quarter. Alliancebernstein L.P. raised its position in PJT Partners by 1.4% in the 1st quarter. Alliancebernstein L.P. now owns 481,410 shares of the financial services provider's stock worth $66,377,000 after buying an additional 6,700 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in PJT Partners by 5.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 370,536 shares of the financial services provider's stock valued at $51,090,000 after acquiring an additional 19,806 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of PJT Partners by 52.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 169,986 shares of the financial services provider's stock valued at $23,438,000 after acquiring an additional 58,656 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of PJT Partners by 2.6% in the first quarter. Principal Financial Group Inc. now owns 143,579 shares of the financial services provider's stock worth $19,797,000 after acquiring an additional 3,645 shares during the period. Institutional investors own 89.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PJT. Wolfe Research restated an "underperform" rating on shares of PJT Partners in a research report on Thursday, July 10th. Keefe, Bruyette & Woods increased their price target on PJT Partners from $161.00 to $199.00 and gave the company a "market perform" rating in a report on Monday, July 14th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $174.67.

PJT Partners Trading Up 2.0%

PJT opened at $177.24 on Friday. The firm's 50 day simple moving average is $180.45 and its two-hundred day simple moving average is $160.98. The company has a market capitalization of $4.31 billion, a PE ratio of 30.45 and a beta of 0.76. PJT Partners Inc. has a 1-year low of $119.76 and a 1-year high of $190.27.

PJT Partners (NYSE:PJT - Get Free Report) last posted 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 firm had revenue of $731.09 billion during the quarter, compared to analyst estimates of $343.11 million. During the same period in the prior year, the business posted $1.19 EPS. PJT Partners's revenue was up 13.0% on a year-over-year basis. Equities analysts forecast that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. PJT Partners's dividend payout ratio (DPR) is 17.18%.

Insider Transactions at PJT Partners

In related news, General Counsel David Adam Travin sold 2,288 shares of the business's stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Grace Reksten Skaugen sold 1,504 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $176.89, for a total transaction of $266,042.56. Following the sale, the director owned 500 shares in the company, valued at approximately $88,445. The trade was a 75.05% decrease in their position. The disclosure for this sale can be found here. 11.75% of the stock is owned by insiders.

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.

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