PJT Partners (NYSE:PJT) Given New $199.00 Price Target at Keefe, Bruyette & Woods

PJT Partners (NYSE:PJT - Free Report) had its price objective raised by Keefe, Bruyette & Woods from $161.00 to $199.00 in a research note released on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider's stock.

Separately, Wolfe Research restated an "underperform" rating on shares of PJT Partners in a research note on Thursday, July 10th. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $164.00.

PJT Partners Stock Up 1.5%

PJT Partners stock traded up $2.73 during mid-day trading on Monday, reaching $186.92. 109,285 shares of the company's stock were exchanged, compared to its average volume of 248,067. The business's fifty day simple moving average is $157.98 and its 200 day simple moving average is $153.03. The firm has a market capitalization of $4.57 billion, a PE ratio of 32.97 and a beta of 0.76. PJT Partners has a one year low of $116.06 and a one year high of $190.28.

PJT Partners (NYSE:PJT - Get Free Report) last issued 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. The business had revenue of $324.50 million for the quarter, compared to analyst estimates of $361.26 million. PJT Partners had a return on equity of 23.81% and a net margin of 10.47%. PJT Partners's quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the company posted $0.98 earnings per share. On average, sell-side analysts forecast that PJT Partners will post 6.2 earnings per share for the current year.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, June 4th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.53%. The ex-dividend date was Wednesday, June 4th. PJT Partners's dividend payout ratio (DPR) is presently 17.64%.

Insider Buying and Selling at PJT Partners

In other news, Director Kievdi Don Cornwell sold 10,403 shares of PJT Partners stock in a transaction on Friday, May 30th. The stock was sold at an average price of $150.29, for a total value 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. The trade was a 54.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel David Adam Travin sold 5,000 shares of PJT Partners stock in a transaction 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 owned 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 25,000 shares of company stock valued at $3,722,082. 11.75% of the stock is owned by company insiders.

Hedge Funds Weigh In On PJT Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PJT. FMR LLC grew its position in PJT Partners by 52.8% during the fourth quarter. FMR LLC now owns 637,797 shares of the financial services provider's stock worth $100,651,000 after buying an additional 220,526 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of PJT Partners by 658.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 181,406 shares of the financial services provider's stock worth $28,628,000 after purchasing an additional 157,483 shares in the last quarter. Norges Bank purchased a new position in shares of PJT Partners in the 4th quarter worth about $20,269,000. Tidal Investments LLC purchased a new position in shares of PJT Partners in the 4th quarter worth about $20,059,000. Finally, Vanguard Group Inc. boosted its holdings in PJT Partners by 5.3% during the 4th quarter. Vanguard Group Inc. now owns 2,515,600 shares of the financial services provider's stock valued at $396,987,000 after acquiring an additional 127,060 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

PJT Partners Company 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.