PJT Partners (NYSE:PJT) Price Target Raised to $160.00

PJT Partners (NYSE:PJT) had its target price increased by UBS Group from $152.00 to $160.00 in a research report released on Wednesday,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

A number of other research firms have also recently commented on PJT. Keefe, Bruyette & Woods increased their price target on PJT Partners from $166.00 to $175.00 and gave the company an “outperform” rating in a research note on Wednesday. Wolfe Research reiterated an “underperform” rating and issued a $150.00 price target on shares of PJT Partners in a research note on Wednesday, January 7th. The Goldman Sachs Group upgraded PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price target for the company in a research note on Wednesday, April 1st. Wall Street Zen cut PJT Partners from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of PJT Partners in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $173.33.

PJT Partners Stock Up 1.3%

Shares of NYSE PJT traded up $1.98 during mid-day trading on Wednesday, reaching $154.72. 527,909 shares of the company were exchanged, compared to its average volume of 368,978. The firm has a 50-day moving average of $145.33 and a 200 day moving average of $162.13. PJT Partners has a 1 year low of $127.73 and a 1 year high of $195.62. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of 22.55 and a beta of 0.86.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.51 by $0.03. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.The company had revenue of $418.20 million during the quarter, compared to analysts’ expectations of $409.38 million. During the same period last year, the business posted $1.05 earnings per share. The firm’s revenue was up 28.9% compared to the same quarter last year. On average, equities analysts forecast that PJT Partners will post 7.5 earnings per share for the current year.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Stockholders of record on Wednesday, June 3rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. PJT Partners’s dividend payout ratio is currently 14.58%.

Insider Buying and Selling at PJT Partners

In other news, CFO Helen T. Meates sold 8,000 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $153.19, for a total value of $1,225,520.00. Following the transaction, the chief financial officer directly owned 58,466 shares of the company’s stock, valued at approximately $8,956,406.54. This represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.75% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Diversify Wealth Management LLC increased its holdings in shares of PJT Partners by 38.9% in the first quarter. Diversify Wealth Management LLC now owns 14,565 shares of the financial services provider’s stock valued at $2,215,000 after purchasing an additional 4,082 shares during the period. Fifth Third Bancorp increased its holdings in shares of PJT Partners by 25,948.0% in the first quarter. Fifth Third Bancorp now owns 13,024 shares of the financial services provider’s stock valued at $1,820,000 after purchasing an additional 12,974 shares during the period. Strs Ohio increased its holdings in shares of PJT Partners by 113.5% in the first quarter. Strs Ohio now owns 7,900 shares of the financial services provider’s stock valued at $1,104,000 after purchasing an additional 4,200 shares during the period. Pictet Asset Management Holding SA increased its holdings in shares of PJT Partners by 8.4% in the first quarter. Pictet Asset Management Holding SA now owns 3,798 shares of the financial services provider’s stock valued at $531,000 after purchasing an additional 295 shares during the period. Finally, Wasatch Advisors LP increased its holdings in shares of PJT Partners by 40.4% in the first quarter. Wasatch Advisors LP now owns 824,537 shares of the financial services provider’s stock valued at $115,204,000 after purchasing an additional 237,428 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

PJT Partners Company Profile

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.