Voya Investment Management LLC Increases Stock Position in PJT Partners Inc. $PJT

Key Points

• Voya Investment Management LLC increased its stake in PJT Partners by 31.1%, owning approximately $2.4 million worth of shares after acquiring an additional 4,136 shares.
• Analysts have mixed views on PJT Partners, with Keefe, Bruyette & Woods raising their price target to $199 while Wolfe Research maintained an "underperform" rating.
• PJT Partners declared a quarterly dividend of $0.25, which equates to an annualized rate of $1.00 and a yield of 0.5%.

Voya Investment Management LLC lifted its stake in shares of PJT Partners Inc. (NYSE:PJT - Free Report) by 31.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,429 shares of the financial services provider's stock after buying an additional 4,136 shares during the quarter. Voya Investment Management LLC owned approximately 0.07% of PJT Partners worth $2,403,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc purchased a new stake in shares of PJT Partners in the first quarter valued at $30,000. Opal Wealth Advisors LLC acquired a new position in shares of PJT Partners in the 1st quarter worth approximately $39,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of PJT Partners in the 1st quarter worth approximately $45,000. Quarry LP bought a new stake in PJT Partners during the 1st quarter valued at $45,000. Finally, Morse Asset Management Inc raised its stake in PJT Partners by 1,640.0% during the 1st quarter. Morse Asset Management Inc now owns 435 shares of the financial services provider's stock valued at $60,000 after acquiring an additional 410 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Insiders Place Their Bets

In other news, Director Grace Reksten Skaugen sold 1,504 shares of the 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 completion of the transaction, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 disclosure for this sale can be found here. 11.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PJT shares. Wolfe Research reaffirmed an "underperform" rating on shares of PJT Partners in a research report 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 company 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 assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $174.67.

PJT Partners Stock Up 0.3%

PJT stock traded up $0.58 during trading hours on Tuesday, hitting $186.30. The company's stock had a trading volume of 36,172 shares, compared to its average volume of 262,305. The stock has a 50 day moving average price of $181.05 and a two-hundred day moving average price of $159.09. The company has a market capitalization of $4.53 billion, a PE ratio of 32.01 and a beta of 0.75. 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 announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.36 by $0.18. The company had revenue of $731.09 billion during the quarter, compared to analysts' expectations of $343.11 million. PJT Partners had a net margin of 10.45% and a return on equity of 25.61%. The business's revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.19 EPS. Sell-side analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, September 3rd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Wednesday, September 3rd. PJT Partners's payout ratio is presently 17.18%.

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.