Wealth Enhancement Advisory Services LLC Takes $298,000 Position in PJT Partners Inc. $PJT

Wealth Enhancement Advisory Services LLC acquired a new stake in PJT Partners Inc. (NYSE:PJT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,767 shares of the financial services provider's stock, valued at approximately $298,000.

A number of other large investors have also recently made changes to their positions in the stock. Opal Wealth Advisors LLC bought a new position in PJT Partners in the first quarter valued at $39,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of PJT Partners in the first quarter worth about $45,000. Quarry LP bought a new stake in shares of PJT Partners in the first quarter worth about $45,000. Morse Asset Management Inc boosted its position 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. Finally, SouthState Corp boosted its position in PJT Partners by 126.7% during the 1st quarter. SouthState Corp now owns 544 shares of the financial services provider's stock valued at $75,000 after acquiring an additional 304 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PJT. BMO Capital Markets assumed coverage on shares of PJT Partners in a report on Friday, October 3rd. They issued an "outperform" rating and a $205.00 price objective for the company. Wolfe Research reaffirmed an "underperform" rating on shares of PJT Partners in a report on Thursday, July 10th. Keefe, Bruyette & Woods increased their price objective on shares of PJT Partners from $161.00 to $199.00 and gave the company a "market perform" rating in a report on Monday, July 14th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of PJT Partners in a research report on Wednesday. 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. According to data from MarketBeat, PJT Partners has an average rating of "Hold" and a consensus target price of $193.00.

PJT Partners Trading Down 3.0%

NYSE PJT opened at $171.30 on Thursday. The company has a fifty day simple moving average of $180.17 and a two-hundred day simple moving average of $161.93. PJT Partners Inc. has a 12-month low of $119.76 and a 12-month high of $190.27. The stock has a market cap of $4.16 billion, a P/E ratio of 29.43 and a beta of 0.76.

PJT Partners (NYSE:PJT - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The financial services provider reported $1.54 EPS for the quarter, beating the consensus estimate of $1.36 by $0.18. The company had revenue of $731.09 billion for the quarter, compared to analyst estimates of $343.11 million. PJT Partners had a net margin of 10.45% and a return on equity of 25.61%. The firm's revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business earned $1.19 earnings per share. As a group, sell-side analysts forecast that PJT Partners Inc. will post 6.2 earnings per share for the current 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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. PJT Partners's payout ratio is 17.18%.

Insider Transactions at PJT Partners

In other PJT Partners 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 shares were sold at an average price of $178.06, for a total transaction of $407,401.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Grace Reksten Skaugen sold 1,504 shares of the business'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 transaction, the director owned 500 shares of the company's stock, valued at $88,445. This trade represents 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.

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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