UBS Group Reaffirms Sell Rating for PJT Partners (NYSE:PJT)

UBS Group restated their sell rating on shares of PJT Partners (NYSE:PJT) in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $75.00 price target on the financial services provider’s stock, down from their prior price target of $100.00.

Other analysts have also issued reports about the stock. The Goldman Sachs Group reaffirmed a neutral rating and issued a $99.00 price objective (down from $108.00) on shares of PJT Partners in a research note on Tuesday, January 9th. Seaport Res Ptn downgraded shares of PJT Partners from a buy rating to a neutral rating in a report on Tuesday, December 5th. JMP Securities upped their price objective on shares of PJT Partners from $105.00 to $110.00 and gave the company a market outperform rating in a report on Wednesday, February 7th. Finally, Wolfe Research restated an underperform rating and set a $89.00 price objective on shares of PJT Partners in a report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $93.25.

PJT Partners Trading Up 0.2 %

PJT Partners stock opened at $94.23 on Tuesday. The firm has a 50 day moving average of $98.85 and a 200 day moving average of $90.83. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 30.59 and a beta of 0.69. PJT Partners has a 12-month low of $59.61 and a 12-month high of $107.35.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, February 6th. The financial services provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.20. PJT Partners had a net margin of 7.09% and a return on equity of 17.44%. The business had revenue of $328.60 million during the quarter, compared to analyst estimates of $304.26 million. During the same period last year, the firm posted $1.08 EPS. The company’s revenue was up 17.4% on a year-over-year basis. On average, analysts predict that PJT Partners will post 3.85 EPS for the current year.

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, March 6th were issued a $0.25 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $1.00 annualized dividend and a yield of 1.06%. PJT Partners’s dividend payout ratio (DPR) is presently 32.47%.

Insider Buying and Selling

In related news, General Counsel David Adam Travin sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $93.21, for a total value of $466,050.00. Following the transaction, the general counsel now owns 1,541 shares in the company, valued at approximately $143,636.61. The sale was disclosed in a filing with the SEC, which is available through this link. In other PJT Partners news, CFO Helen T. Meates sold 12,926 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $105.51, for a total value of $1,363,822.26. Following the sale, the chief financial officer now owns 48,821 shares in the company, valued at approximately $5,151,103.71. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel David Adam Travin sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $93.21, for a total value of $466,050.00. Following the transaction, the general counsel now owns 1,541 shares in the company, valued at approximately $143,636.61. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,926 shares of company stock worth $2,875,672. 10.67% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PJT. PNC Financial Services Group Inc. lifted its position in shares of PJT Partners by 133.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 431 shares of the financial services provider’s stock valued at $27,000 after buying an additional 246 shares in the last quarter. Fortis Capital Advisors LLC purchased a new position in PJT Partners in the 1st quarter valued at $29,000. Huntington National Bank lifted its holdings in PJT Partners by 67.9% in the 2nd quarter. Huntington National Bank now owns 450 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 182 shares in the last quarter. Belpointe Asset Management LLC lifted its holdings in PJT Partners by 423.3% in the 1st quarter. Belpointe Asset Management LLC now owns 471 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 381 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in PJT Partners by 61.4% in the 3rd quarter. Global Retirement Partners LLC now owns 668 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 254 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

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.