Stifel Financial Corp Grows Position in PJT Partners Inc. (NYSE:PJT)

Stifel Financial Corp raised its stake in PJT Partners Inc. (NYSE:PJT - Free Report) by 50.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,875 shares of the financial services provider's stock after acquiring an additional 3,626 shares during the quarter. Stifel Financial Corp's holdings in PJT Partners were worth $1,716,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Principal Securities Inc. increased its position in shares of PJT Partners by 385.4% during the fourth quarter. Principal Securities Inc. now owns 199 shares of the financial services provider's stock worth $31,000 after purchasing an additional 158 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of PJT Partners by 112.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 276 shares of the financial services provider's stock worth $44,000 after buying an additional 146 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of PJT Partners by 32.3% during the fourth quarter. GAMMA Investing LLC now owns 446 shares of the financial services provider's stock worth $70,000 after buying an additional 109 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of PJT Partners by 51.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 517 shares of the financial services provider's stock valued at $82,000 after buying an additional 176 shares during the last quarter. Finally, KBC Group NV lifted its stake in shares of PJT Partners by 25.4% in the fourth quarter. KBC Group NV now owns 1,007 shares of the financial services provider's stock worth $159,000 after buying an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insiders Place Their Bets

In other news, General Counsel David Adam Travin sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $141.74, for a total value of $708,700.00. Following the completion of the transaction, the general counsel now owns 2,288 shares of the company's stock, valued at approximately $324,301.12. This trade represents a 68.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 11.71% of the stock is owned by insiders.

PJT Partners Stock Performance

Shares of NYSE PJT traded up $3.34 during mid-day trading on Monday, reaching $147.60. 46,468 shares of the company's stock were exchanged, compared to its average volume of 242,660. The company's 50-day moving average is $137.97 and its 200-day moving average is $152.45. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 30.25 and a beta of 0.76. PJT Partners Inc. has a 52-week low of $99.42 and a 52-week high of $190.28.

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

PJT Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Wednesday, June 4th. PJT Partners's payout ratio is 17.64%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on PJT Partners from $152.00 to $177.00 and gave the stock a "market perform" rating in a report on Wednesday, February 5th. Citizens Jmp cut PJT Partners from a "strong-buy" rating to a "hold" rating in a report on Monday, January 13th. Finally, JMP Securities downgraded PJT Partners from an "outperform" rating to a "market perform" rating in a research note on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average 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.