Pinebridge Investments L.P. Makes New $328,000 Investment in PJT Partners Inc. (NYSE:PJT)

Pinebridge Investments L.P. purchased a new position in shares of PJT Partners Inc. (NYSE:PJT - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,077 shares of the financial services provider's stock, valued at approximately $328,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its position in shares of PJT Partners by 91.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 72,270 shares of the financial services provider's stock worth $9,636,000 after acquiring an additional 34,514 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in PJT Partners by 53.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 5,769 shares of the financial services provider's stock worth $910,000 after buying an additional 2,012 shares during the period. Norges Bank bought a new position in shares of PJT Partners during the fourth quarter valued at $20,269,000. Principal Financial Group Inc. grew its stake in shares of PJT Partners by 4.2% in the fourth quarter. Principal Financial Group Inc. now owns 139,934 shares of the financial services provider's stock worth $22,083,000 after purchasing an additional 5,644 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in PJT Partners by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 255,263 shares of the financial services provider's stock valued at $40,283,000 after purchasing an additional 3,173 shares during the period. Institutional investors and hedge funds own 89.23% of the company's stock.

PJT Partners Stock Performance

PJT stock traded down $1.88 during mid-day trading on Thursday, hitting $139.84. The company had a trading volume of 424,472 shares, compared to its average volume of 244,154. PJT Partners Inc. has a 12 month low of $96.96 and a 12 month high of $190.28. The stock's fifty day moving average price is $139.83 and its two-hundred day moving average price is $152.49. The firm has a market cap of $3.26 billion, a PE ratio of 28.54 and a beta of 0.77.

PJT Partners (NYSE:PJT - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $1.05 EPS for the quarter, topping analysts' consensus estimates of $0.94 by $0.11. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The firm had revenue of $324.50 million during the quarter, compared to analyst estimates of $361.26 million. During the same period last year, the company earned $0.98 earnings per share. The business's revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts anticipate that PJT Partners Inc. will post 6.2 earnings per share for the current year.

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Wednesday, June 4th. PJT Partners's dividend payout ratio is presently 20.41%.

Analyst Ratings Changes

A number of research firms have commented on PJT. Keefe, Bruyette & Woods upped their price target on PJT Partners from $152.00 to $177.00 and gave the company a "market perform" rating in a research report on Wednesday, February 5th. JMP Securities cut shares of PJT Partners from an "outperform" rating to a "market perform" rating in a report on Monday, January 13th. Finally, Citizens Jmp lowered PJT Partners from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $158.50.

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.