PJT Partners (NYSE:PJT) Stock Gets Price Target Reduction from Keefe, Bruyette & Woods

PJT Partners (NYSE:PJT) had its price objective lowered by Keefe, Bruyette & Woods from $159.00 to $155.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

Other equities research analysts have also issued reports about the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of PJT Partners in a report on Tuesday, October 6th. Capital One Financial set a $160.00 price target on PJT Partners in a report on Tuesday, October 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a research note on Wednesday, August 26th. The Goldman Sachs Group lowered their price target on PJT Partners from $203.00 to $182.00 and set a “buy” rating for the company in a report on Thursday, October 1st. Finally, Wall Street Zen downgraded PJT Partners from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. Two investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, PJT Partners currently has a consensus rating of “Hold” and a consensus price target of $167.67.

PJT Partners Price Performance

Shares of PJT stock opened at $148.52 on Wednesday. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 21.25 and a beta of 0.88. PJT Partners has a 12-month low of $127.73 and a 12-month high of $195.62. The business has a 50 day simple moving average of $151.69 and a 200 day simple moving average of $155.93.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $1.41 EPS for the quarter, beating the consensus estimate of $1.39 by $0.02. The firm had revenue of $385.12 million during the quarter, compared to the consensus estimate of $409.74 million. PJT Partners had a net margin of 10.57% and a return on equity of 32.66%. The business’s quarterly revenue was down 13.8% compared to the same quarter last year. During the same period last year, the firm earned $1.85 EPS. On average, equities analysts anticipate that PJT Partners will post 7.60 EPS for the current fiscal year.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 16th. Stockholders of record on Wednesday, December 2nd will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Wednesday, December 2nd. PJT Partners’s dividend payout ratio (DPR) is 14.31%.

Insider Activity

In other PJT Partners news, Director Emily K. Rafferty sold 1,100 shares of PJT Partners stock in a transaction on Monday, August 10th. The shares were sold at an average price of $167.35, for a total value of $184,085.00. Following the completion of the sale, the director directly owned 9,568 shares of the company’s stock, valued at approximately $1,601,204.80. The trade was a 10.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kievdi Cornwell sold 7,845 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $173.48, for a total value of $1,360,950.60. Following the completion of the sale, the director owned 18,865 shares of the company’s stock, valued at $3,272,700.20. The trade was a 29.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 10,668 shares of company stock valued at $1,846,561. 10.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Compass Financial Management LLC acquired a new position in PJT Partners during the 2nd quarter valued at about $36,000. Versant Capital Management Inc lifted its position in PJT Partners by 73.3% in the second quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider’s stock valued at $35,000 after buying an additional 99 shares during the last quarter. Cassaday & Co Wealth Management LLC purchased a new position in shares of PJT Partners in the first quarter valued at approximately $50,000. Allworth Financial LP grew its stake in shares of PJT Partners by 80.6% during the third quarter. Allworth Financial LP now owns 540 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 241 shares in the last quarter. Finally, GK Wealth Management LLC acquired a new position in PJT Partners during the third quarter worth approximately $92,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Company Profile

PJT Partners Inc (NYSE:PJT) is a global, advisory-focused investment banking and financial services firm. The company provides strategic advice to corporations, financial sponsors, institutional investors and other clients on mergers and acquisitions, divestitures, capital raising, liability management and other complex financial matters.

Its businesses also include restructuring and special situations advisory, private capital advisory and placement services, and shareholder engagement and governance advice.