PJT Partners Inc. (NYSE:PJT) Declares Quarterly Dividend of $0.25

Key Points

• PJT Partners declared a quarterly dividend of $0.25 per share, payable September 16 to shareholders of record on September 2. The annualized dividend is $1.00, with a 0.6% yield and a 14.5% payout ratio.
• PJT shares rose 3.0% to $173.91 after the company reported quarterly EPS of $1.97, beating estimates of $1.57, while revenue increased 19.5% year over year to $486.29 million.
• Insiders recently sold shares, including the general counsel’s 3,000-share sale and the CFO’s 8,000-share sale. Institutional investors own approximately 89.23% of PJT Partners.

PJT Partners Inc. (NYSE:PJT - Get Free Report) declared a quarterly dividend on Tuesday, July 28th. Stockholders of record on Wednesday, September 2nd will be given a dividend of 0.25 per share by the financial services provider on Wednesday, September 16th. This represents a c) dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Wednesday, September 2nd.

PJT Partners has raised its dividend payment by an average of 0.4%annually over the last three years. PJT Partners has a payout ratio of 14.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PJT Partners to earn $8.80 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 11.4%.

PJT Partners Stock Up 3.0%

Shares of PJT stock traded up $5.09 during trading hours on Tuesday, hitting $173.91. 717,626 shares of the company were exchanged, compared to its average volume of 388,553. The firm has a fifty day moving average of $158.47 and a 200 day moving average of $156.59. PJT Partners has a 1 year low of $127.73 and a 1 year high of $195.62. The firm has a market cap of $4.49 billion, a PE ratio of 25.35 and a beta of 0.85.

PJT Partners (NYSE:PJT - Get Free Report) last released its earnings results on Tuesday, July 28th. The financial services provider reported $1.97 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.40. The firm had revenue of $486.29 million during the quarter, compared to the consensus estimate of $425.28 million. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. PJT Partners's revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.54 earnings per share. Analysts expect that PJT Partners will post 7.5 earnings per share for the current year.

Insiders Place Their Bets

In related news, General Counsel David Adam Travin sold 3,000 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total value of $457,290.00. Following the completion of the sale, the general counsel directly owned 2,052 shares in the company, valued at approximately $312,786.36. This represents a 59.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Helen T. Meates sold 8,000 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $153.19, for a total value of $1,225,520.00. Following the completion of the transaction, the chief financial officer directly owned 58,466 shares in the company, valued at $8,956,406.54. This trade represents a 12.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 10.98% of the company's stock.

Institutional Investors Weigh In On PJT Partners

A number of large investors have recently modified their holdings of PJT. Versant Capital Management Inc boosted its holdings in PJT Partners by 73.3% in the 2nd quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider's stock worth $35,000 after acquiring an additional 99 shares during the period. Allworth Financial LP raised its stake in shares of PJT Partners by 85.8% during the fourth quarter. Allworth Financial LP now owns 288 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 133 shares during the period. Cassaday & Co Wealth Management LLC acquired a new position in shares of PJT Partners during the first quarter worth $50,000. State of Wyoming acquired a new position in shares of PJT Partners during the second quarter worth $63,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of PJT Partners in the fourth quarter valued at $65,000. Institutional investors and hedge funds own 89.23% of the company's stock.

About PJT Partners

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm's dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.

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