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

Key Points

• PJT Partners Inc. declared a quarterly dividend of $0.25 per share, with shareholders of record set to receive this payout on September 17th, representing a 0.55% yield.
• The firm's recent earnings report showed a significant increase, with $1.54 earnings per share, exceeding estimates and marking a 13% revenue growth year-over-year.
• Insider trading activity included a sale of 10,403 shares by Director Kievdi Don Cornwell, reducing his ownership by over 54%, while institutional investors have increased their holdings in the company.

PJT Partners Inc. (NYSE:PJT - Get Free Report) announced a quarterly dividend on Tuesday, July 29th, RTT News reports. Stockholders of record on Wednesday, September 3rd will be paid a dividend of 0.25 per share by the financial services provider on Wednesday, September 17th. This represents a $1.00 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Wednesday, September 3rd.

PJT Partners has a payout ratio of 14.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect PJT Partners to earn $7.25 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 13.8%.

PJT Partners Price Performance

Shares of PJT stock traded up $0.70 during trading on Wednesday, reaching $178.22. The company had a trading volume of 365,629 shares, compared to its average volume of 253,260. The firm's 50 day simple moving average is $164.20 and its two-hundred day simple moving average is $154.67. PJT Partners has a one year low of $116.06 and a one year high of $190.27. The company has a market capitalization of $4.35 billion, a PE ratio of 30.62 and a beta of 0.76.

PJT Partners (NYSE:PJT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.36 by $0.18. The business had revenue of $731.09 billion for the quarter, compared to the consensus estimate of $343.11 million. PJT Partners had a return on equity of 25.47% and a net margin of 10.45%. The firm's revenue was up 13.0% compared to the same quarter last year. During the same period last year, the business earned $1.19 EPS. Analysts forecast that PJT Partners will post 6.2 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on PJT shares. Wolfe Research restated an "underperform" rating on shares of PJT Partners in a research report on Thursday, July 10th. Keefe, Bruyette & Woods boosted their price target on PJT Partners from $161.00 to $199.00 and gave the company a "market perform" rating in a research note on Monday, July 14th. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $164.00.

Insider Buying and Selling at PJT Partners

In related news, Director Kievdi Don Cornwell sold 10,403 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $150.29, for a total transaction of $1,563,466.87. Following the completion of the transaction, the director directly owned 8,847 shares in the company, valued at approximately $1,329,615.63. This trade represents a 54.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel David Adam Travin sold 5,000 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $141.74, for a total value of $708,700.00. Following the transaction, the general counsel owned 2,288 shares of the company's stock, valued at approximately $324,301.12. The trade was a 68.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,000 shares of company stock worth $3,722,082 in the last ninety days. 11.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PJT. Goldman Sachs Group Inc. lifted its position in shares of PJT Partners by 5.6% in the first quarter. Goldman Sachs Group Inc. now owns 370,536 shares of the financial services provider's stock valued at $51,090,000 after buying an additional 19,806 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in PJT Partners by 8.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 66,559 shares of the financial services provider's stock valued at $9,177,000 after acquiring an additional 5,277 shares in the last quarter. Millennium Management LLC raised its holdings in PJT Partners by 1,394.5% in the 1st quarter. Millennium Management LLC now owns 52,563 shares of the financial services provider's stock valued at $7,247,000 after acquiring an additional 49,046 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of PJT Partners by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,887 shares of the financial services provider's stock valued at $1,915,000 after purchasing an additional 620 shares during the last quarter. Finally, Intech Investment Management LLC increased its stake in shares of PJT Partners by 49.3% in the 1st quarter. Intech Investment Management LLC now owns 12,888 shares of the financial services provider's stock valued at $1,777,000 after purchasing an additional 4,256 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

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.